India and UAE Sign Bilateral Investment Treaty
India and the UAE have signed the Bilateral Investment Treaty (BIT), marking a significant milestone in promoting investments between the two countries. The signing ceremony was witnessed by Prime Minister Narendra Modi and UAE’s President Sheikh Mohamed bin Zayed Al Nahyan. The BIT is expected to play a crucial role in facilitating investments in both nations.
Key Enabler for Investments
The Ministry of External Affairs of India stated that the BIT will serve as a key enabler for further promoting investments in both countries. This agreement will enhance the confidence of investors, particularly large investors, leading to increased foreign investments and opportunities for overseas direct investment (ODI). Additionally, it is anticipated to have a positive impact on employment generation.
Comprehensive Economic Partnership Agreement
India has also signed a Comprehensive Economic Partnership Agreement with the UAE, in addition to the BIT. These agreements aim to strengthen economic ties and cooperation between the two nations.
Contributing to Sustainable Development Goals
The signing of the BIT aligns with the Sustainable Development Goals (SDGs) set by the United Nations. It is expected to contribute to SDG 8: Decent Work and Economic Growth, by generating employment opportunities and promoting economic development. Furthermore, it supports SDG 9: Industry, Innovation, and Infrastructure, by encouraging domestic manufacturing, reducing import dependence, and increasing exports.
- SDG 8: Decent Work and Economic Growth
- SDG 9: Industry, Innovation, and Infrastructure
The BIT with the UAE not only aims to attract investments to India but also aligns with the goal of Atmanirbhar Bharat, which focuses on self-reliance, domestic manufacturing, and reducing import dependence. This agreement will contribute to realizing the vision of an economically independent India.
SDGs, Targets, and Indicators
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SDG 8: Decent Work and Economic Growth
- Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% GDP growth per annum in the least developed countries
- Indicator 8.1.1: Annual growth rate of real GDP per capita
- Indicator 8.1.2: Proportion of informal employment in non-agriculture employment, by sex
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SDG 9: Industry, Innovation, and Infrastructure
- Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all
- Indicator 9.1.1: Proportion of the rural population who live within 2 km of an all-season road
- Indicator 9.1.2: Passenger and freight volumes, by mode of transport
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SDG 17: Partnerships for the Goals
- Target 17.16: Enhance the Global Partnership for Sustainable Development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources, to support the achievement of the Sustainable Development Goals in all countries, in particular developing countries
- Indicator 17.16.1: Number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks that support the achievement of the Sustainable Development Goals
Analysis
1. Which SDGs are addressed or connected to the issues highlighted in the article?
The SDGs that are addressed or connected to the issues highlighted in the article are SDG 8: Decent Work and Economic Growth, SDG 9: Industry, Innovation, and Infrastructure, and SDG 17: Partnerships for the Goals.
2. What specific targets under those SDGs can be identified based on the article’s content?
Based on the article’s content, the specific targets that can be identified are:
– Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% GDP growth per annum in the least developed countries.
– Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all.
– Target 17.16: Enhance the Global Partnership for Sustainable Development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources, to support the achievement of the Sustainable Development Goals in all countries, in particular developing countries.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
Yes, there are indicators mentioned or implied in the article that can be used to measure progress towards the identified targets. These indicators include:
– Indicator 8.1.1: Annual growth rate of real GDP per capita.
– Indicator 8.1.2: Proportion of informal employment in non-agriculture employment, by sex.
– Indicator 9.1.1: Proportion of the rural population who live within 2 km of an all-season road.
– Indicator 9.1.2: Passenger and freight volumes, by mode of transport.
– Indicator 17.16.1: Number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks that support the achievement of the Sustainable Development Goals.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% GDP growth per annum in the least developed countries | Indicator 8.1.1: Annual growth rate of real GDP per capita Indicator 8.1.2: Proportion of informal employment in non-agriculture employment, by sex |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all | Indicator 9.1.1: Proportion of the rural population who live within 2 km of an all-season road Indicator 9.1.2: Passenger and freight volumes, by mode of transport |
| SDG 17: Partnerships for the Goals | Target 17.16: Enhance the Global Partnership for Sustainable Development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources, to support the achievement of the Sustainable Development Goals in all countries, in particular developing countries | Indicator 17.16.1: Number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks that support the achievement of the Sustainable Development Goals |
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Source: m.economictimes.com
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