India and UAE to Interlink UPI and AANI for Seamless Cross-Border Transactions
| Topic | Details |
|---|---|
| UPI-AANI Integration | India and UAE are interlinking UPI (India) and AANI (UAE) to enable seamless cross-border transactions, benefiting over 3 million Indians in the UAE. |
| JAYWAN Card Scheme | NPCI's international arm NIPL collaborates with Al Etihad Payments to launch the JAYWAN card in UAE, based on India's RuPay card stack, aiming to make UAE sovereign in payments. |
| HLJTFI Meeting | 12th Meeting held in Mumbai, co-chaired by Piyush Goyal and Sheikh Hamed bin Zayed Al Nahyan. Established in 2013 to promote India-UAE trade and investment ties. |
| UAE Investment in Food Parks | UAE committed $2 billion to invest in Indian food parks over the next 2-2.5 years to secure food security, increase farmer incomes, and create jobs. |
| Trade and Economic Growth | Bilateral trade reached $84 billion in 2023-24 under CEPA, with non-oil trade rising to $28.2 billion in H1 2024. UAE is India's fourth-largest foreign investor ($3.35 billion). |
| Invest India Office | India to open an Invest India office in Dubai (second overseas office after Singapore); UAE to establish an office in New Delhi. |
| IIFT Campus in Dubai | IIFT to open its first overseas campus in Dubai, offering training programs by early 2025. |
| Bharat Mart | Slated for completion by 2026, it will provide Indian companies access to free zone and mainland retail markets. Over 9,000 expressions of interest received for 1,400 units. |
| ADIA Subsidiary at GIFT City | Abu Dhabi Investment Authority to establish a subsidiary in GIFT City, reflecting UAE's interest in India's economy. |
| UPI (Unified Payment Interface) | Digital payment system launched by NPCI in 2016, enabling peer-to-peer transfers via UPI ID, mobile number, QR code, or Virtual Payment Address. |