The stronger wealth will be. There will be equally strong health. The same thing today is sitting accurate on the partnership of India and UAE. On one hand, the US imposed tariffs on India. On the other hand, India and United Arab Emirates i.e. UAE started a new initiative, which will not only strengthen the health sector. Rather, the dollar will also challenge the reign of the dollar. UAE will now be medicines from India. But the deal will not be in dollars but in the Indian rupee and UAE in Dirham. This is a further strengthening step of the economy of both countries. It is also going to have a direct impact on global trade. India and UAE have talked about increasing trade on a large scale in Forma sector. Along with this, to start transactions in a local selective currency system i.e. rupee and Dirham. It is clear that India will reduce US dollars for UAE trade.
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These initiatives will give new heights to the economic relations of the two countries and will reduce the cost of transactions. India is called the world’s Pharmacy of the World. India’s hold in generic medicines and vaccine supply is very strong. The UAE on the other hand is the Gateway for Middle East and Africa. Meaning that if medicines from India go to UAE, then it will easily reach Gulf and African countries. According to the Ministry of Commerce, this meeting was convened to discuss major issues in the Pharma region in view of emerging geopolitical challenges and both sides exchanged ideas on ways to further convenient the trade of pharmaceuticals and healthcare products. After the meeting, in a post on X, Goyal wrote that the discussion was focused on the discovery of new opportunities for the Indian pharma industry, streamlining regulatory processes, and the mutual recognition of standards, which aims to further strengthen bilateral cooperation in the region.
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While co-chairmanship of the United Arab Emirates Foreign Trade Minister, Dr. Thani bin Ahmed Al Zayodi, the stakeholders discussed expediting the regulatory inspection of Indian facilities to streamline exports. In addition, the high-level delegation also shared views on emerging opportunities in traditional medicine, which laid special emphasis on Ayurvedic products under the Indo-UAE partnership.