Economy: Bilateral Trade Defense, Diaspora and Others: Cultural Agreement

Get top class preparation for Bank-PO right from your home: get questions, notes, tests, video lectures and more- for all subjects of Bank-PO.

Termed emirates because they are ruled by emirs, they are Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Quwain


  • The bilateral trade is likely to exceed US $ 50b during 2010 - 2011 with a trade deficit of $ 4b.
  • UAE was the fifth largest import source of crude oil for India in 2009 - 10 with an import of 11.60 MMT crude oil. 6th largest oil reserves
  • UAE is the tenth biggest investor in India in terms of FDI. UAE՚s investments in India are concentrated mainly in five sectors: Energy (19.1 %) ; Services (9.3 %) ; Programming (7.8 %) ; Construction (6.8 %) ; and Tourism and Hotels (5.6 %) .
  • The annual remittances made by the large Indian community in UAE amount to over $ 5 billion


  • MoU on Defense Cooperation in June 2003 and setting up of Joint Defense Cooperation Committee (JDCC)
  • Potential areas of bilateral cooperation in the defense field are production and development of defense equipment; Joint exercises of armed forces, particularly naval exercises; sharing of information on strategy and doctrines; technical cooperation


  • UAE is home to more than 1.75 million Indian expatriate community, being the largest expatriate community in the UAE. 15 - 20 per cent of the community is made up of professionally qualified personnel, 20 per cent belong to the white-collar non-professionals (clerical staff, shop assistants, salesmen, accountants, etc.) and rest (about 65 %) belongs to the blue-collar workers. There is also a significant business community from India.
  • Low wages, delayed salary payments, isolation, human trafficking, combined with a lack of knowledge of the laws under which they can seek redress have, only too often, turned the dreams of Indian blue-collar workers living abroad into a nightmare. Emiratization of workforce prog to have local citizens form 40 % of workforce by 2015 have reduced opportunities .
  • There is Indian Community Welfare Fund (ICWF) for providing food, shelter, passage expenses etc. to destitute workers/housemaids in distress.
  • The Indian Workers Resource Centre (IWRC) , with a 24-hour helpline, was inaugurated in Dubai by Hon ′ ble President of India, during her State Visit in November 2010. A pilot project, a free, walk-in resource center providing Indian workers, especially semi-skilled and unskilled labourers, direct access to welfare and legal services in the United Arab Emirates, located in Dubai
  • UAE՚s Ministry of Labour and our Ministry of Overseas Indian Affairs are working closely to evolve a new arrangement that would make the system of recruitment and contracting more transparent.
  • A memorandum of understanding (MoU) on manpower which will facilitate Indians workers who are headed to the Gulf country. The revised MoU deals with issues like facilitation of recruitment of Indian manpower for working in the UAE, responsibilities of the employers and workers, generation of employment opportunity, and protection of workers under the labour laws of the host country.


Cultural Agreement