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Mahesh

09/06/22 08:11 AM IST

MoU between India and United Arab Emirates (UAE)

In News 
  • The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi,has approved the proposal for signing a bilateral Memorandum of Understanding (MoU) between India and the United Arab Emirates (UAE) on Cooperation in the field of Industries and Advanced Technologies.
About MoU 
  • India and the UAE have signed a bilateral "Comprehensive Economic Partnership Agreement" (CEPA).
  • This agreement has potential to increase trade between India and the UAE from US$ 60 billion (Rs.4.57 lakh crore) to US$ 100 billion (Rs.7.63 lakh crore) in the next five years.
  • The MoU aims at strengthening and developing industries in both nations through investments, technology transfer and the deployment of key technologies in industries. This is likely to generate employment across the economy.
  • The MoU will increase cooperation in -
  • Strengthening the Supply Chain Resilience of Industries
  • Renewable & Energy Efficiency
  • Health and life sciences
  • Space Systems
  • Artificial Intelligence
  • Industry 4.0 Enabling Technologies
  • Standardization, metrology, conformity assessment, accreditation, and Halal certification.
Source- PIB

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