UAE is the first country in the Gulf and the third country globally after Singapore and Bhutan to adopt the RuPay card.
PM Modi was conferred with the top civilian award of UAE on Saturday during his second leg of the three-nation visit. The award was announced in April this year by the Crown Prince of Abu Dhabi Sheikh Mohamed Bin Zayed Al Nahyan.
During the talks, PM Modi and the Crown Prince discussed the growing convergences between the two nations.
"The Crown Prince referred very warmly to our relations and to the level we have reached. He stressed on the importance of India and UAE working even more closely to overcome challenges," said Secretary (Economic Relations) TS Tirumurti regarding the talks.
The Crown Prince lauded the role of the Indian community and underlined that these sentiments come from his heart.
Secretary (ER) Tirumurti added that the Crown Prince had talked about the "bridges we have built should be made even stronger" and "stressed the importance of continuing to work closely towards deradicalisation."
Another main highlight of the visit was the launch of the RuPay card, the Indian equivalent of Mastercard and Visa. National Payment Corporation of India (NPCI) signed the MoU with UAE’s Domestic Scheme's Mercury Payments Services.
UAE is the first country in the Gulf to adopt the RuPay card and the third country globally after Singapore and Bhutan to adopt it. PM Modi also swiped his Rupay card for buying Indian sweets.
The RuPay Card will be accepted at 175,000 merchant acceptance locations and at 5,000 ATM and cash access locations within the UAE.
The adoption of the RuPay card will help Indian tourists and businesses who will be visiting the country and doing transactions over there. UAE receives close to three million Indian tourists annually and the adoption of Rupay card in the west Asian country will lower the charges since Indians tourists will save on the exchange rate.
The RuPay card was launched in the presence of the Indian community who pledged support to invest in the Kashmir investment summit.
"At the Business Roundtable in Abu Dhabi with NRI businessmen based in the UAE, PM urged them to invest in India, particularly in J&K and Ladakh, in view of the recent changes. The NRI business community demonstrated their enthusiasm in this regard," MEA spokesperson Raveesh Kumar said.
The Indian Prime Minister and the Crown Prince of Abu Dhabi also released in UAE postage stamps on Mahatma Gandhi to commemorate his 150th Birth Anniversary. This is the third visit of Prime Minister Modi to the Gulf nation.
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