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The year 2022 ends on a positive note for India-UAE relations, with business and political ties between the two countries at new heights.
The UAE is India’s third largest trading partner and bilateral trade between them exceeds $88 billion. Indians, moreover, make up 39.9 percent of the UAE’s population, and their remittances to India amount to more than $17 billion, the highest for any country abroad.
To tell the world what the future will be, Dubai built the Museum of the Future, which talks about the possibilities of the future. To further the vision of Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, to utilize the latest technologies in coding, big data
analytics, artificial intelligence, virtual and augmented reality and human-machine interaction to power the future.
“Dubai never ceases to amaze me.” It has always been a city of innovation and exploration with endless possibilities,” Shah Rukh Khan said while launching the Creating the Future with Shah Rukh Khan campaign.
Today, Dubai is the hub of coders, big data experts and a different world of Metaverse, that is, all the future activities have started to be implemented in the UAE market now. The UAE has started to implement its own development planning until 2050.
In the field of space science, after the missions to Mars and the Moon, in 2028, the UAE will launch its own interplanetary mission. The spacecraft will travel 3.6 billion kilometers in five years. His
the final landing will be in 2033 on an asteroid 560 million kilometers from Earth. This would make the Emirates the fourth country to land a spacecraft on an asteroid.
The UAE also has a plan to achieve all 17 goals of the United Nations Sustainable Development Goals (SDGs) by 2030.
Launched in 2017, the UAE Artificial Intelligence (AI) Strategy is the first mega project to achieve the UAE centenary goals of 2071. It is characterized by a post-mobile government phase where all future government services, sectors and infrastructure will
projects will rely on AI.
The strategy is the first of its kind in the region and the world and foresees investments in the latest AI technologies and tools to improve government performance and efficiency. By 2031, the UAE will achieve 100 percent reliance on AI for government services and data analysis. By 2030, Dubai will be the main center of 3D printing, emerging as a leader in all scientific fields and a breakthrough in the construction industry. By 2030, Dubai will be the world’s first choice as a global platform for knowledge-based, sustainable and innovative businesses.
By 2030, 25 percent of all vehicles in Dubai will be driven by autonomous vehicles and artificial intelligence-based roads, saving millions of hours lost in traditional transportation while increasing human productivity. The Mohammed bin Rashid Al Maktoum Solar Park is the world’s largest single-site solar park based on the Independent Power Producer (IPP) model. It will generate 5,000 MW of energy by 2030, solar energy, which can become an endless journey in the desert.
In line with the Dubai Clean Energy Strategy, the Emirate aims to produce 75 percent of its energy needs from clean sources by 2050. The strategy also aims to make Dubai a global hub for clean energy and the green economy.
The UAE aims to become the world’s number one country in the Global Food Security Index by 2051. Food safety will be ensured in all circumstances by promoting international trade partnerships, enabling technology-based food production and supply. Implementing policies and regulations to increase nutritional intake and reduce food loss and waste.
Masdar, Abu Dhabi Future Energy Company, is a global leader in the field of renewable energy sources and sustainable development in the world. Masdar develops utility-scale renewable energy projects around the world. Green hydrogen is the driver of innovation in clean technologies
leading the world in a smart first mover approach.
A catalyst for the development of renewable energy in the Arab world over the past decade, Masdar demonstrates how the business community can meet the global sustainability agenda.
By 2057, the Abu Dhabi Police will launch a satellite to prevent police data theft, and by 2117, they will build a police station for the UAE’s Mars colony. Patrol vehicles will monitor security in space, artificial intelligence systems will guide the behavior of prisoners in prisons
institutions and nano-robots will be used to put out fires. Robots will replace 50 percent of police officers, and all police patrols will operate without fuel.
The UAE aims to establish the first inhabited human settlement on Mars by 2117. His Highness Sheikh Mohammed bin Rashid said that this project is the seed that the UAE is planting today and that he hopes future generations will benefit from it.
Dubai’s economy after World Expo 2020, which ends in March 2022, will be based on technology, not oil, along with the rest of the country. Similarly, the Yas Island project is a significant step towards boosting tourism in Abu Dhabi.
The United Arab Emirates has unveiled an economic diversification plan to reduce its dependence on fossil fuels and transform its economy from a conventional, labor-intensive economy to one based on knowledge, technology and a skilled workforce. The country’s main focus is on healthcare, education, banking, tourism and construction.
Needless to say, due to India’s strength and cozy relations with the UAE, India will play a significant role in this diversification strategy by providing knowledge, skills and technical know-how. India is already the fifth largest economy in the world, and its economic power will grow even more in 2023.
India boasts the fastest growing startup ecosystem in the world with 108 Unicorn startups, as of 2022. With increased digitization, improved infrastructure, stable government and a conducive business environment, the country will achieve more in 2023.
Speaking to IANS, Professor Vinaitosh Mishra, associate professor at the College of Health Management and Economics at Gulf Medical University, Ajman, UAE, said the entry of Indian ventures could give a much-needed boost to Dubai’s ambitious metaverse strategy, which aims to add $4 billion to the Emirates’ GDP.
This ambitious plan has the potential to create 40,000 virtual jobs by 2030. The UAE could become the preferred destination for more than a thousand companies specializing in blockchain technologies to turn it into one of the world’s top ten metaversal economies.
It is a well known fact that many successful business owners in the UAE are of Indian origin ie. Thumbai Group, Aster Healthcare, Lulu, Landmarks, Sobha Group, NMC Health, Soraia Jewellers, JoiaLukas and GEMS to name a few. These companies have diverse interests in sectors such as tourism, retail, gold, logistics, IT, healthcare and education.
The UAE’s flagship free zone is currently home to over eight hundred leading Indian companies serving all key markets in the region. Recently, the UAE celebrated its remarkable journey of 50 years in 2021 and is gearing up for the next fifty incredible years.
On the other hand, India is poised to become the third largest economy in the world by 2030, overtaking Germany and Japan. I believe that strong business and political relations between the two countries can play a vital role in achieving these goals. Amid the shifting balance of power in Asia, India’s strength lies in its strategic location. India’s strong leadership grabbed this opportunity with both hands.
If 2022 was a good year for economic and political relations between India and the United Arab Emirates, 2023 will be even better.
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