PM Modi talked about investment climate in India as both leaders deliberated on ways to further boost trade ties while emphasising on taking forward the the overall relationship. Earlier, Modi arrived here from Abu Dhabi on the second leg of his UAE visit. Sheikh Mohammed, who is also ruler of Dubai, accorded a warm welcome to PM Modi.

PM Modi had arrived in Abu Dhabi yesterday on a two-day visit, the first by an Indian Prime Minister in 34 years. Economic and commercial cooperation with the UAE is a key aspect of overall bilateral relationship. The traditionally close and friendly India-UAE bilateral relationship has evolved into a significant partnership in the economic and commercial sphere.

Indians have emerged as important investors within the UAE and India as an important export destination for the UAE manufactured goods. India-UAE trade, valued at USD 180 million per annum in the 1970s has gone up to around USD 60 billion.

India's major import items from UAE include petroleum and petroleum products, precious metals, stones, gems, jewellery, minerals and chemicals. The two countries have been cooperating in the defence sector too.

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