PM Modi In UAE / Rupee's strength increased under Modi rule, trade with UAE will now be done in local currency

PM Modi in UAE: Prime Minister Narendra Modi's government is constantly trying to make the Indian rupee an international currency. In such a situation, when PM Narendra Modi is on a visit to the United Arab Emirates, it has been agreed to do business in the local currency between the two countries. While this agreement will create many new trade opportunities for both the countries, it will also be beneficial for the currencies of both the countries.

PM Modi had a comprehensive discussion with UAE President Sheikh Mohammed bin Zayed Al Nahyan on Saturday. During this discussion, talks and agreements were reached on many bilateral issues. One of these is to agree to do business in the local currency of both the countries.

Mutual trade will reach 100 billion dollars

India and the United Arab Emirates (UAE) currently have a bilateral trade of $ 85 billion. It is expected to reach 100 billion dollars very soon. PM Modi said in a statement after meeting the UAE President that India-UAE trade has increased by 20 percent after the Economic Partnership Agreement signed between the two countries last year.

Business in local currency will strengthen Aadhaar

In the presence of Prime Minister Narendra Modi and UAE President Sheikh Mohammed bin Zayed Al Nahyan, India and UAE signed an agreement to do business in local currencies. PM Modi said that this agreement shows mutual trust and strong economic partnership between the two countries. Having a system of trade settlement in own currency will not only increase bilateral trade but also strengthen the investment base in both the countries. Not only this, about 30 lakh Indians work in UAE, who send money to their relatives in India. Due to the facility of trade in rupees, these people will have to bear less cost of sending money to India.

This agreement is very important for India, because during the recent Russia-Ukraine war, India had increased the import of crude oil from Russia. At that time, many global economic sanctions were imposed on Russia, due to which it was agreed between the two countries to make its payment in local currency. However, later this payment was said to be in UAE currency. Now with this agreement, it will be easier for India to pay Russia.

Punishment for Modi is 'Vegetarian Dastarkhan'

PM Modi received a grand welcome in the United Arab Emirates. He was given a guard of honor at the presidential residence 'Qasr-al-Watan' here. At the same time, the President decorated a completely vegetarian Dastarkhan to welcome him. It was the first to introduce a salad made from local organic vegetables with wheat and dates.

Apart from this, dishes made of grilled vegetables, black lentils, haris (local wheat), cauliflower were presented. Along with this tandoori carrot was also served. Local fruits were also included in the food. PM Modi is on a one day visit to UAE.