PM Modi lands in Delhi after concluding his visit to France, UAE
Jul 15, 2023
New Delhi [India], July 15 : Prime Minister Narendra Modi landed in India on Saturday after concluding his two-nation tour of France and United Arab Emirates (UAE).
PM Modi had emplaned from Abu Dhabi in the UAE after finishing his day-long visit to the middle-eastern country.
Prior to this, PM Modi was in France for two days, where he attended the Bastille Day parade as the guest of honour.
"A visit defined by transformative outcomes. PM @narendramodi emplanes for New Delhi after wrapping up a successful visit to UAE," tweeted official spokesperson of Ministry of External Affairs Arindam Bagchi.
During the visit, the PM Modi and UAE President Al Nahyan witnessed the exchange of three historic Memoranda of Understanding (MoU).
An MoU on Local Currency Settlement (LCS) System was signed between the Reserve Bank of India and the Central Bank of the United Arab Emirates enabling the use of Indian Rupee (INR) and UAE Dirham (AED) for Cross-border Transactions.
"This is a very important aspect of India-UAE cooperation. It paves the way for enhanced economic collaboration and will make international financial interactions simpler," tweeted PM Modi.
Another MoU was exchanged for the establishment of a campus of IIT Delhi in Abu Dhabi between the Indian Ministry of Education, UAE’s Abu Dhabi Department of Education and Knowledge and the Indian Institute of Technology, Delhi (IIT).
This is the first ever IIT to be set up in the Middle East/North Africa (MENA) region. This is a landmark project which reflects the vision of the leaders and it will be a tribute to the people of India and the UAE who are the backbone of the historic relationship.
"This marks a significant stride in our educational internationalisation and is testament to India’s innovation prowess. Education is the bond that unites us, it's the spark that ignites innovation. Together, we will leverage this power for mutual prosperity and global betterment," Prime Minister Narendra Modi tweeted.
A third MoU was exchanged on bilateral cooperation on interlinking the payment and messaging systems between the Reserve Bank of India and the Central Bank of the UAE.
The MoU will facilitate the integration Unified Payments Interface (UPI) of India and the Instant Payments Platform (IPP) of the UAE. It will also facilitate interlinking card switches of the two countries - RuPay switch and UAESWITCH to facilitate the mutual acceptance of their domestic cards and processing of card transactions directly without relying on any other network.
Prior to visiting UAE, PM Modi was in Paris, where he was conferred with France's highest highest civilian and military honour, Legion of Honour.
PM Modi was hosted by French President Emmanuel Macron and France’s first lady Brigitte Macron at the Elysee Palace.
