Category: Politics

At the request of French President Emmanuel Macron, Prime Minister Narendra Modi left for France on Monday, February 10–12, 2025, for a three-day visit. This visit, which will focus on important topics including commerce, defence, nuclear energy, and AI, is important for enhancing India-France ties.

Foreign Secretary Vikram Misri emphasised during a press briefing in New Delhi that PM Modi and President Macron will co-chair the AI Action Summit on February 11 as a key event during the visit. The summit’s main focus will be AI governance, which guarantees the development of AI responsibly and safely.

The two leaders will also have bilateral discussions during the visit, with an emphasis on sustainable energy, commerce, and space cooperation. As part of his efforts to improve business relations, PM Modi will also speak at the India-France CEOs Forum.

To commemorate Indian soldiers who served in World War I, PM Modi and President Macron will travel to Marseille’s Mazargues War Cemetery on February 12. The opening of a new Indian consulate in Marseille to service the Indian diaspora is another important item on the agenda. Talks about the Jaitapur Nuclear Power Plant and developments in modular nuclear reactors are also anticipated.

On February 5, the military forces of Australia, Japan, the Philippines, and the United States conducted a multilateral Maritime Cooperative Activity (MCA) within the Philippines’ Exclusive Economic Zone. This collaborative endeavour demonstrates a common commitment to regional security and strengthens international collaboration for a free and open Indo-Pacific.

Building on past MCAs, this exercise improves the interoperability of the participating nations’ defence forces. It improves cooperation in doctrines, tactics, techniques, and processes, resulting in seamless joint operations for marine defence. The MCA was carried out in accordance with international law, with a focus on safety and respect for navigational rights and freedoms.

The drill included various naval assets, including the US Navy’s guided-missile destroyer USS Benfold (DDG 65) and a P-8A Poseidon surveillance aircraft. Australia sent the Hobart-class air warfare destroyer HMAS Hobart (DDG 39) and an MH-60R Sea Hawk helicopter. The Philippine Navy sent the guided-missile frigate BRP Jose Rizal (FF 150), while Japan provided the Akizuki-class destroyer JS Akizuki (DD 115) and an SH-60K helicopter.

These coordinated drills underscore the allied nations’ commitment to sustaining peace, ensuring freedom of passage, and fostering security in the Indo-Pacific area. The US and its partners are committed to preserving international maritime regulations and regional stability.

Argentina and the UAE used a high-level economic seminar in Abu Dhabi as a forum to discuss potential new trade and investment opportunities. Prominent government representatives and corporate executives from both countries attended the event, which was co-organized by the UAE Ministry of Economy and the Abu Dhabi Chamber of Commerce and Industry.

Talks focused on Argentina’s recently implemented Incentive Regime for Large Investments, a calculated move to draw in foreign investment, especially from investors in the UAE. Tax incentives, regulatory stability, and long-term predictability are just a few of the advantages this program provides to foreign investors, fostering an atmosphere that is conducive to economic success.

UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi highlighted the UAE’s dedication to strengthening commercial relations with Argentina, acknowledging the South American country as an essential ally in its quest for future expansion. For Argentinian companies looking to grow internationally, he emphasized the UAE’s advantageous location, cutting-edge infrastructure, and pro-business atmosphere.

Gerardo Werthein, the foreign minister of Argentina, echoed this view and emphasized the significance of expanding commercial and economic ties with the UAE.

He encouraged Emirati companies to investigate prospects in important industries including mining, energy, infrastructure, and technology.

According to an official source, India and the United Kingdom will continue negotiations on the proposed free trade agreement (FTA) beginning February 24. The UK trade minister is set to visit New Delhi soon to speed up discussions. The talks began in January 2022 but stalled as both countries entered their general election cycles.

The pact seeks to boost bilateral trade and investment by removing or lowering duties on most commodities. It would also simplify restrictions to encourage trade in services and investments. Indian industries are advocating for increased access for qualified professionals, particularly in IT and healthcare, as well as duty-free market access for a variety of goods.

In exchange, the UK wants cheaper import levies on Scotch whisky, electric vehicles, lamb meat, chocolates, and confectionery. Britain also pursues new chances in telecommunications, law, and financial services, such as banking and insurance.

The talks may gain traction following FM Nirmala Sitharaman’s recent proposal to increase FDI quota in the insurance sector from 74% to 100%. India and the UK are also negotiating a bilateral investment treaty (BIT).

Bilateral trade increased to $21.34 billion in 2023-24, from $20.36 billion in 2022-23.

Egypt’s Foreign Minister Badr Abdelatty is scheduled to visit India this week for the first-ever bilateral strategic engagement between the countries. Abdelatty’s journey to India is his first since being appointed last year. The talks will cover a wide range of bilateral issues, including trade, security, and West Asian developments, according to sources on Monday.

The strategic dialogue with External Affairs Minister S. Jaishankar is part of attempts to elevate Indo-Egyptian relations to a strategic partnership, as decided in 2023. Egyptian President Abdel Fattah El-Sisi’s visit to India last year as the Republic Day chief guest substantially boosted bilateral ties. During the visit, both parties set an ambitious objective of increasing trade volume from $7 billion to $12 billion in five years.

Aside from evaluating significant agreements reached during Sisi’s visit and PM Modi’s trip to Egypt in 2023, the ministers will address West Asian stability following the Israel-Hamas ceasefire accord.

Investment and commerce will be key issues, with Egypt establishing a special zone for Indian industry in the Suez Canal Economic Zone. Talks will also cover ICT, medicines, green hydrogen, higher education, and direct flights between Cairo and New Delhi.

The UAE-India Business Council-UAE Chapter (UIBC-UC) and the Maharashtra Industrial Development Corporation (MIDC) have signed an MoU to boost trade and investment. The agreement was signed during the “UAE-India: Partnership for Enduring Prosperity” event at the Waldorf Astoria in Ras Al Khaimah, as part of India’s 76th Republic Day celebrations.

His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, attended the ceremony, as did key authorities and business executives. The MoU intends to boost investment between the UAE and Maharashtra, streamline business operations for UAE companies, and attract Emirati investors. UIBC-UC’s 18 members, who manage assets worth over $1 trillion, are expected to play an important role in economic growth.

A yearly exchange of business delegations is intended to strengthen commercial connections. The MoU was signed by UIBC-UC’s Head of Corporate Affairs, Kshitij Korde, and MIDC’s CEO, P. Velrasu. It was exchanged by Major General (Retd.) Sharafuddin Sharaf, VC of UIBC-UC, and Velrasu in the presence of dignitaries.

Faizal Kottikollon, Chairman of UIBC-UC, described the deal as a significant step in UAE-India economic relations. Major General (Retd.) Sharaf indicated that Indian investments in the UAE had increased from $40 billion to $80 billion, with a target of $100 billion.

The UK government is considering ideas to lower the charge that pension schemes pay into an industry-wide rescue fund, with the goal of freeing up more funds for economic investment. The PPF collects this charge from corporate schemes and uses it to provide a financial cushion to shield employees from potential losses if individual pension schemes fail.

According to government sources, the PPF is in good financial shape, and the government is considering ways to make it simpler to cut the fee. While exact savings have not been announced, the government believes that lowering the charge will free up millions of pounds. This action is part of a larger push to boost economic growth through private investment. Pensions Minister Torsten Bell emphasised the need to modernise obsolete legislation to avoid excessive levies on pension schemes, freeing up funds for investment.

The idea builds on various changes adopted by the Labour government since July to unlock the financial potential of the pension system. This plan is considered a response to Britain’s continued economic issues, namely weak growth and constrained public finances.

Despite increases in company investment, UK levels remain lower than those of key international competitors, according to OECD data.

The UAE is positioning itself as a major participant in the global nuclear energy business, with plans to transfer its knowledge around the world. The country is especially focused on the United States, where an increase in artificial intelligence (AI) development is driving record electricity demand.

Emirates Nuclear Energy Co. (ENEC) is actively seeking to increase its influence. “We want to capitalise on our success,” the company’s CEO told the Financial Times, citing the US as a vital market due to its significant investments in AI-powered data centres.

The United States recently announced a $500 billion AI infrastructure program called “Stargate.” Of this, $100 billion has been dedicated to the construction of data centres in Texas, which would increase energy demand even more.

Beyond the US, the UAE is considering investing in other significant areas. ENEC is in talks about contributing to the UK’s Sizewell C nuclear power project. There are also discussions about the establishment of a future nuclear power facility in the Philippines.

Currently, the UAE is the only Gulf nation with a nuclear power plant, which generates 5,300 megawatts. Meanwhile, Saudi Arabia is making efforts to enrich and commercialise its uranium assets.

External Affairs Minister S. Jaishankar, who is currently in the UAE, met with President Sheikh Mohamed bin Zayed Al Nahyan on Tuesday. During the meeting, Jaishankar conveyed Prime Minister Narendra Modi’s heartfelt greetings and his best wishes for the UAE’s continuing prosperity.

Jaishankar took to X and conveyed his gratitude for the opportunity to meet with the UAE President. He emphasised that their conversations centred on advancing the Comprehensive Strategic Partnership. “I am honoured to call on HH Mohamed Bin Zayed. I conveyed PM Narendra Modi’s warm regards. We discussed the continuous progress of our Comprehensive Strategic Partnership. Jaishankar wrote, “Value his insights for its future growth.”

The meeting, held at Qasr Al Bahr in Abu Dhabi, addressed a wide range of issues, including economic, geopolitical, and regional cooperation. The UAE President responded by extending his greetings to PM Modi and wishing India continued success.

Earlier, Jaishankar met with Sheikh Abdullah bin Zayed, the UAE’s Deputy Prime Minister and Foreign Minister. They talked about strengthening economic, commercial, and cultural ties. Additionally, he met with Crown Prince Zayed to strengthen bilateral collaboration.

US President Donald Trump spoke by phone with Indian Prime Minister Narendra Modi about major subjects such as trade, immigration, and defence cooperation. The discussion was their first since Trump’s inauguration last week.

Following the call, Trump expressed confidence that India will “do what’s right” in terms of returning Indian immigrants who had unlawfully entered the US. He emphasised the importance of increasing India’s buying of American-made security equipment and establishing a fair bilateral economic partnership.

Trump later informed reporters that Modi is slated to visit the US in February. The White House confirmed that the visit was discussed, but no definitive date has been determined.

According to a White House statement, the two leaders held a “productive call” aimed at increasing bilateral cooperation. They also spoke on security concerns in the Indo-Pacific, the Middle East, and Europe.

India-US trade totalled $118 billion in 2023-24, with India retaining a $32 billion surplus. The United States regards India as an important strategic partner in combating China.

Despite tariff concerns during Trump’s re-election campaign, PM Modi maintained their friendship by calling Trump a “dear friend” in a social media post. Both leaders emphasised their desire for a mutually beneficial and trustworthy collaboration.