Relations between the two nations are now dignified for flight as it takes in new facets. Having prospered for several decades, it has more recently advanced into a exceptional partnership crossing multiple strategies, with both countries firmly committed to developing collaboration in new sectors.

Since the beginning of this year, several new points have been marked up on what is already a very notable bilateral relationship.

Nasdaq Dubai invited Navdeep Suri, India’s Ambassador to the UAE in August to usher in India’s Independence Day by ringing the market-opening bell. Nasdaq Dubai’s statement said the ceremony reflected “the rapid growth of close financial and economic ties between the UAE and India”.

Indian Prime Minister Narendra Modi met His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and discuss bilateral issues affecting the two countries.

Prime Minister Modi is also received the Order of Zayed, the highest civil decoration of the UAE, in recognition of his role in strengthening Indo-Emirati relations.

Far be it that this friendship draws on shared interests in art, aesthetics, tourism or tradition alone. Anchored on historic trade relations, the two countries have made steady progress in boosting and strengthening trade ties.

The UAE is at present India’s third-largest trading partner, with total trade recently touching $60 billion (Dh220 billion) last year, and annual growth topping 11 per cent.

Hitherto dominated by gold, jewellery and mineral products, both scope and size are slated to rise on the back of the Indian government’s initiatives such as Make in India, Digital India and Smart Cities.

The UAE is home to almost 3.3 million Indians, the highest concentration in any single foreign country, and the remittance figures are also expected to grow.

Both governments look upon their strategic relationship as poised and primed to enter a more dynamic phase. By their expectations, bilateral trade will exceed $100 billion by 2020.

More Middle Eastern players are likely to express interest in storing oil in Indian SPRs, with long-term interests in mind. The move will also help strengthen India’s relations with producers who wish to supply oil to Asian consumers and establish a ground presence in the Indian market.

India, with its $2.8-trillion economy, is the world’s fastest-growing major economy, and has aims to move into the $5-trillion league by 2022.

A partnership between DP World UAE Region, Jebel Ali Free Zone Authority (Jafza) and the Indian Business and Professional Council (IBPC), the major initiative aims to attract Indian companies and entrepreneurs to Dubai’s flagship Jebel Ali Port and Jafza.