Visa initiative will help achieve a goal of $100 billion in bilateral trade between the two countries
India will now offer five-year multiple entry business and tourist visas for Emirati citizens, it was announced at the weekend.
“The new biometric system for visa applicants and the introduction of five years’ multiple entry tourist and business visas for the UAE citizens are aimed at further strengthening trade and investment and people-to-people links between the two countries,” the Indian Ambassador to the United Arab Emirates, Navdeep Singh Suri, said in ceremony in Abu Dhabi on Thursday to mark Indian Independence Day, according to a report by Gulf News.
Trade between India and the UAE recently reached $60 billion and the new visas will help achieve the target of $100 billion set for 2020.
Earlier in the day, the ambassador rang the market-opening bell at Nasdaq Dubai, as part of the Independence Day celebrations.
Hamed Ali, chief executive of Nasdaq Dubai, said: "Indian companies and nationals continue to make an outstanding contribution to the economic success of the UAE and Nasdaq Dubai is ready to support the growing development of a broad range of markets activities."