IIT Campus to be Set Up in UEA under India-UAE Trade Deal
An establishment of a new IIT will be done in the UAE as per the India UAE Trade Deal. It will be the first-ever IIT to be set up in the foreign land of UAE.
The Government of India signed a new trade deal with the UAE regarding the establishment of the Indian Institute of Technology (IIT) in the United Arab Emirates. This new trade deal between India and UAE was signed on 18 February 2022. It is the first time in history that an Indian Institute of Technology (IIT) will be set up in foreign land. Currently, there are 23 IITs in India like IIT Madras, IIT Bombay, IIT Kharagpur, etc. Establishing IIT campuses abroad has been one of the long-term goals of India, and establishing its first abroad campus in UAE is one of the best initiatives to achieve the long-term goal.
India and the United Arab Emirates signed a Comprehensive Economic Partnership Agreement (CEPA) with the goal of increasing bilateral trade to $100 billion in five years. According to a statement from the ministry of commerce and industry, the agreement was signed by Indian Prime Minister Narendra Modi and Abu Dhabi Crown Prince HE Sheikh Mohamed bin Zayed Al Nahyan.
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This agreement was signed virtually between the leaders of the two nations with the aim of developing historical relations between the countries. The commerce and Industry Minister of India, Piyush Goyal, stated that from new trade deal between India and UAE regarding the establishment of IIT in UAE will benefit both countries equally. The agreement will benefit around 90% of commerce, including imports and exports.
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