As the Indian ambassador to the UAE, Sunjay Sudhir, told the Emirates News Agency (WAM) on Thursday, “India and the UAE have harnessed complementarities in their strengths and built strong partnerships in all arenas, especially in economy and people-to-people relations.”
Speaking to WAM on the eve of Indian Independence Day, he emphasised that, thanks to the vision and direction of both sides’ leadership, bilateral relations between India and the UAE have rapidly and favourably changed in recent years.
He emphasised that India and the UAE are closer than ever. With the introduction of the Rupee-Dirham Local Currency Trade Settlement Mechanism and the United Payments Interface (UPI) in the United Arab Emirates, our financial systems are well on their way to close integration. The Rupay Card stack from India is the foundation for the UAE’s unique domestic card program, known as “Jaywan.”
The envoy was referring to the execution of a bilateral agreement on the interconnection of the instant payment networks of the United Arab Emirates (AANI) and India (UPI) and an agreement on the interconnection of RuPay, India’s native card payment network, and the United Arab Emirates’ Jaywan card network.
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