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India and UAE to raise $75 billion infrastructure fund; UAE to ally with India against terrorism

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Photo: India Today

By NewsGram Staff-Writer

Abu Dhabi: In order to tap into the huge potential of the infrastructure sector in India, India and UAE have decided to set up an infrastructure fund and raise up to $75 billion.

Photo Credit: NDTV
Photo Credit: NDTV

The fund would be used to invest in India’s expansion projects in infrastructure sector especially in railways, ports, roads, airports, industrial corridors and parks.

Prime Minister Narendra Modi on Monday had offered $1 trillion investment opportunity and had strongly urged the UAE’s businessmen to invest in India.

Modi had addressed a round-table conference of businessmen at Masdar and had appealed to them to invest saying, India now has a decisive government and several sectors like defense, railways, insurance etc. have been opened for foreign investments.

India and UAE have decided to promote strategic partnership in energy sector and also assist involvement of Indian companies in infrastructure projects in UAE. India has also decided to partner with UAE in developing petroleum reserves and to promote and expand trade in respective regions.

India would assist UAE to create an industrial base by letting UAE tap into its expertise in small and medium enterprises.

On the educational and scientific front, both the countries have decided to have collaboration between their educational institutions and further encourage scientific collaboration in areas such as renewable energy, desert ecology, healthcare etc.

In a significant move, Prime Minister Narendra Modi and Crown Prince Sheikh Mohamed bin Zayed AI Nahyan agreed to join hands against terrorism, radicalism and organized crime. With this, UAE has decided to align with India in its fight against terrorism, moving away from its traditional ally- Pakistan.

The joint statement released said: “oppose terrorism in all forms and manifestations … calling on all states to reject and abandon the use of terrorism against other countries, dismantle terrorism infrastructures where they exist, and bring perpetrators of terrorism to justice.” The statement then asked all countries “to fully respect and sincerely implement their commitments to resolve disputes bilaterally and peacefully, without resorting to violence and terrorism.

Next Story

Huawei Unveils Mate 30 Pro 5G For The First Time in UAE

It is pertinent to note that the only primary difference between the 5G and 4G variant of the Mate 30 Pro is the processor

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Huawei
Huawei has already opened a Notify Me option on their official website in the region, that should prompt prospective buyers ahead of the official pre-order start date. Wikimedia Commons

After launching the standard Mate 30 Pro in Europe and the Middle East late last year, Huawei has now introduced the 5G variant of the flagship smartphone in the UAE.

This is the first time the 5G mate 30 Pro has launched outside of China.

Despite lacking what many would consider the “necessary” official access to Google Mobile Services, the device was confirmed during an official launch event in Dubai, UAE. The Kirin 990 5G-powered device supporting the UAE’s local 5G network infrastructure ahead of a January 23 launch at retailers in the region, 9to5Google reported on Thursday.

It is being said that the smartphone, which comes sans Google and its Play services, will fit in pretty well in the region.

Huawei has already opened a Notify Me option on their official website in the region, that should prompt prospective buyers ahead of the official pre-order start date.

Fans will be able to head into selected stores on the January 23 launch to experience the device for themselves. The Huawei Mate 30 Pro 5G will be available in two colour options: Orange and Emerald Green priced at 3899 AED or roughy $1061, the report added.

Huawei
After launching the standard Mate 30 Pro in Europe and the Middle East late last year, Huawei has now introduced the 5G variant of the flagship smartphone in the UAE. Wikimedia Commons

It is pertinent to note that the only primary difference between the 5G and 4G variant of the Mate 30 Pro is the processor.

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The rest of the internals are same, with the impressive camera performance, battery longevity and display all making this quite an enticing prospect. (IANS)