{"id":13,"date":"2023-07-31T01:30:33","date_gmt":"2023-07-31T01:30:33","guid":{"rendered":"https:\/\/pixelandprose.in\/blog\/?p=13"},"modified":"2023-08-08T07:48:52","modified_gmt":"2023-08-08T07:48:52","slug":"india-x-uae-forging-financial-independence","status":"publish","type":"post","link":"https:\/\/pixelandprose.in\/blog\/india-x-uae-forging-financial-independence\/","title":{"rendered":"INDIA x UAE &#8211; Forging Financial Independence"},"content":{"rendered":"\n<p><strong>India X UAE: Bid Adieu to Dollar Dominance<\/strong><\/p>\n\n\n\n<p>It\u2019s time to ditch the dollar. In a groundbreaking move, India and the United Arab Emirates (UAE) have joined forces to revolutionize their trade relations. During Indian Prime Minister Narendra Modi&#8217;s visit to the UAE, a momentous agreement was forged, enabling trade settlements in rupees instead of dollars. This game-changing shift reduces costs and streamlines transactions, propelling bilateral cooperation to new heights.<\/p>\n\n\n\n<p>With India being the world&#8217;s third-largest oil importer, paying in rupees marks a transformative milestone. Bilateral trade between India and the UAE, totaling $84.5 billion, holds immense global market potential. The Reserve Bank of India expresses its enthusiasm for these agreements, promising smooth cross-border transactions and enhanced economic cooperation.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/pixelandprose.in\/blog\/wp-content\/uploads\/2023\/08\/rupixen-com-5lw6CLBZlCg-unsplash-1024x683.jpg\" alt=\"\" class=\"wp-image-78\" width=\"339\" height=\"226\" srcset=\"https:\/\/pixelandprose.in\/blog\/wp-content\/uploads\/2023\/08\/rupixen-com-5lw6CLBZlCg-unsplash-1024x683.jpg 1024w, https:\/\/pixelandprose.in\/blog\/wp-content\/uploads\/2023\/08\/rupixen-com-5lw6CLBZlCg-unsplash-300x200.jpg 300w, https:\/\/pixelandprose.in\/blog\/wp-content\/uploads\/2023\/08\/rupixen-com-5lw6CLBZlCg-unsplash-768x512.jpg 768w, https:\/\/pixelandprose.in\/blog\/wp-content\/uploads\/2023\/08\/rupixen-com-5lw6CLBZlCg-unsplash-1536x1024.jpg 1536w, https:\/\/pixelandprose.in\/blog\/wp-content\/uploads\/2023\/08\/rupixen-com-5lw6CLBZlCg-unsplash-2048x1365.jpg 2048w\" sizes=\"(max-width: 339px) 100vw, 339px\" \/><\/figure>\n\n\n\n<p>Moreover, the central banks of both countries have established a direct connection between India&#8217;s Unified Payments Interface (UPI) and the UAE&#8217;s Instant Payment Platform (IPP). Inspired by successful models in Asia, this forward-thinking linkage streamlines cross-border money transfers and slashes payment costs. Could it get better than this?<\/p>\n\n\n\n<p>Embracing rupees and establishing real-time payment capabilities, these nations are reshaping the global finance sector, with far-reaching implications for trade and cooperation beyond their borders.&nbsp;<\/p>\n\n\n\n<p>What are your thoughts on this new trade tie?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India X UAE: Bid Adieu to Dollar Dominance It\u2019s time to ditch the dollar. In a groundbreaking move, India and the United Arab Emirates (UAE) have joined forces to revolutionize their trade relations. During Indian Prime Minister Narendra Modi&#8217;s visit to the UAE, a momentous agreement was forged, enabling trade settlements in rupees instead of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/pixelandprose.in\/blog\/wp-json\/wp\/v2\/posts\/13"}],"collection":[{"href":"https:\/\/pixelandprose.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pixelandprose.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pixelandprose.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pixelandprose.in\/blog\/wp-json\/wp\/v2\/comments?post=13"}],"version-history":[{"count":3,"href":"https:\/\/pixelandprose.in\/blog\/wp-json\/wp\/v2\/posts\/13\/revisions"}],"predecessor-version":[{"id":80,"href":"https:\/\/pixelandprose.in\/blog\/wp-json\/wp\/v2\/posts\/13\/revisions\/80"}],"wp:attachment":[{"href":"https:\/\/pixelandprose.in\/blog\/wp-json\/wp\/v2\/media?parent=13"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pixelandprose.in\/blog\/wp-json\/wp\/v2\/categories?post=13"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pixelandprose.in\/blog\/wp-json\/wp\/v2\/tags?post=13"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}