Modi’s Madison Square Garden moment in Dubai

Earlier in the day, while talking to investors, Modi said India had an immediate investment opportunity of $1 trillion and the government will take urgent steps to address concerns of businessmen from this country and erase “deficit of 34 years“.

In the UAE, Modi met with Sheikh Mohamed bin Zayed Al Nahyan, the crown prince and deputy supreme commander of the UAE Armed Forces.

To boost economic ties, the UAE on Monday agreed to increase investments in India to Dollars 75 billion (about Rs 5 lakh crore) including through a dedicated infrastructure fund, while the two nations will raise their bilateral trade to almost USD 100 billion in five years.

Pitching for a “decisive battle” against terrorism, Prime Minister Narendra Modi on Monday night asked countries to choose if they are with sponsors of the menace or against them as he underlined that dialogue is the only way to resolve all issues with neighbours.

Modi spoke on various issues including India’s renewed relations with UAE, terrorism, new initiatives for NRIs and relationship with neighbouring countries.

UAE plans to tap India’s expertise in small and medium enterprises to create a vibrant industrial base in that country, which could also be of benefit to Indian enterprises.

About 2.6 million Indian expatriates live in the UAE, representing 30 percent of the UAE’s total population. The UAE, now the world’s fastest growing economy, is flush with funds and is scouting for safe investments. He said UAE would be at the economic focus of the Asian century. Furthermore, He pointed several sectors including insurance, railways, defence manufacturing that have been opened up for foreign investment in India.

Modi, who has come under fire for his party’s links to hard-line Hindu groups, kicked off his visit with a tour of Abu Dhabi’s Sheikh Zayed Grand Mosque. Dubai has a few temples but the national capital of the Emirati nation is devoid of one.

He said that UAE companies have a “long history” and “considerable experience” in working in India, and that “similarly, around 45,000 Indian companies operate successfully in the UAE”.

Modi said that he will also look into other problems faced by the Indian diaspora like school admissions. Many hold construction jobs, building the UAE’s dazzling skyscrapers and shopping centers.

The jam-packed stadium frequently erupted in applause and slogans of “Modi, Modi” with people from even nearby Gulf countries like Bahrain making it to the meeting.