As part of the India-UAE trade agreement inked on February 18, the Indian Institute of Technology (IIT) will open its first branch in the UAE.
This will be the first time an IIT outside of India has been built. The Indian Institute of Technology(IITs) are governed by the Institutes of Technology Act, 1961 and as of now there are 23 IITs in India.
The leaders agreed to establish an Indian Institute of Technology in the United Arab Emirates, “confirming the historical relations between the two countries and realising the need to establish world-class institutions that encourage and support innovation and technological progress,” according to a joint UAE-India vision statement.
There are currently 23 IITs in India, which are spread around the country and offer undergraduate, postgraduate, and doctoral level programmes.
IIT Delhi, IIT Bombay, IIT Kharagpur, and IIT Madras are among India’s top IITs. IITs are well-known for providing BTech and MTech degree programmes.
The Joint Entrance Examination, JEE Advanced, and the top-ranking JEE Mains are used to admit students to IITs. Students who meet the requirements can take the JEE Advanced exam.
CEPA agreement between India and the UAE-
The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India, which was signed on Friday, is a significant milestone that heralds in a new period of cooperative strategic collaboration in all sectors, according to UAE ministers and top officials.
The agreement, which builds on the two nations’ long-standing historical ties, is the first to be signed under the UAE’s international agreements development programmed, which was established as part of the ‘Projects of the 50’ initiative.
It was signed following a virtual summit between Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Narendra Modi, Prime Minister of India, with the goal of boosting trade and investments and beginning a new era of economic progress.
Economic cooperation-
The leaders commended the open door of a dedicated India Mart in the Jebel Ali Free Zone and directed their respective officials to promote two-way investments in infrastructure projects, including speed up work on establishing a dedicated investment zone for UAE companies and joint ventures aimed at establishing a food corridor.
Collaboration on Energy-
The UAE is one of India’s major energy suppliers, and it is committed to meeting the country’s rising energy demand. It is pleased to have been the first overseas partner to invest in India’s Strategic Petroleum Reserves Program through crude oil imports.
Indian firms have progressively extended their presence in the UAE’s energy sector, and they now represent some of Abu Dhabi’s most important concession and exploration partners.
More job will be performed to find new collaboration opportunities to assist India’s energy needs, including new energies, and to ensure that India’s rising economy has access to affordable and secure energy sources.
Climate change and renewable energy-
Modi congratulated Sheikh Mohamed on the UAE’s selection as the 2023 host of the UN Climate Conference.
The leaders also pledged to collaborate closely in the contexts of the United Nations Climate Change Conference (COP), the International Renewable Energy Agency (Irena), and the International Solar Alliance (ISA).
Food Security-
The leaders committed to increase bilateral food and agricultural commerce as well as prudent foreign investments in agriculture and food systems to strengthen collaboration.
India and the UAE agreed to promote and strengthen infrastructure and specialized logistic services connecting farms to ports and final destinations in the UAE.
In both nations, the leaders directed relevant government agencies and industry partners to develop and implement pilot initiatives.
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