India, UAE, Israel's trilateral trade
GS Paper - 2 International Relations
The trilateral trade between India, Israel and the UAE can propel to a high of $110 billion by 2030 by tapping into their mutual strengths, top diplomats and members of the business community have said. The comments were made at an event organised by the International Federation of Indo-Israel Chambers of Commerce (IFIICC) on 4 April 2021 to discuss the ongoing business collaborations being pursued through IFIICC’s leadership across sectors.
- The international business potential backed by Israeli innovation, UAE’s visionary leadership and strategic partnership of both nations with India could be $110 billion by 2030, a press release said, issued by IFIICC.
- UAE is a gateway to the world and this trilateral with India and Israel could benefit the world.
- The Indian business community in the UAE could significantly leverage the strengths of this trilateral to boost economic growth of all nations.
- IFIICC was launched on 14 December last year and is looking to set up offices globally, drawing the support of the Indian diaspora, the largest in the world.
- The European business school (ESCP) in a seminar organised recently also highlighted the global potential of trilateral ties between Israel, the UAE and India. The seminar held last month was organised in cooperation with SPJIMR.
- Established in 1819, the ESCP Business School is considered to be the world's first business school.