HE Sheikh Nahyan bin Mubarak Praises UAE-India Relations

HE Sheikh Nahyan bin Mubarak lauds UAE-India relations as the strongest and most dynamic in the world at the Chartered Accountants Day celebrations by ICAI Dubai Chapter

India is attracting investment from Non-Resident Indians through the Foreign Currency Non-Resident (FCNR) route as NRI deposits reach approximately US$166 billion, including US$33.7 billion through FCNR accounts

Date: Dubai, UAE; June 29, 2026

The UAE-India bilateral relations is among the strongest and most dynamic partnerships in the world – a partnership founded on trade and investment as well as shared values, mutual respect and the exceptional contributions made by the Indian community across various aspects of life in the UAE, HE Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister for Tolerance and Coexistence, said at a conference titled: The Story of Comebacks: The Resilient Way organised by the Dubai Chapter of the Institute of Chartered Accountants of India (ICAI). 

The conference, attended by more than 700 members of ICAI and their spouses, was organised to celebrate the 78^th Chartered Accountants Day that is observed on 1st July every year, as the day marks the founding of the Institute of Chartered Accountants of India (ICAI) in 1949.

“The theme of this evening—‘The Path of Resilience: The Story of Rising Again’—is both important and timely. Resilience is a quality valued by everyone and essential to every successful endeavor; it is something every nation must instill. At the same time, the ability to rise again begins with trust: trust in ourselves, in one another, in our institutions, and in the future, Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister for Tolerance and Coexistence, said.

“Resilience encompasses the ability to manage risk and successfully navigate unforeseen circumstances. It entails making wise decisions under pressure and maintaining confidence even amidst uncertainty. Resilience is built through discipline, thorough preparation, sound judgment, learning from experience, and an unwavering commitment to doing what is right.

"The UAE embodies these values ​​every day, including during the recent period marked by regional conflicts and uncertainty. Our leadership remained calm, our institutions strong, and our economy confident, while our people stood together in remarkable unity. The world witnessed what we have always known: that the UAE is a nation defined by determination, achievement, and confidence in its ability to overcome all challenges,” he said.

Sheikh Nahyan emphasised that the UAE’s resilience did not come about by chance; rather, it was built over decades through wise leadership, investment in people, and the establishment of strong institutions. 

“His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, continues to foster peace, dignity, opportunity, and prosperity for everyone living and working in the country. Under his guidance and support, the UAE has strengthened its capacity to respond to various regional and global developments and solidified its prestigious standing on the international stage,” he said.

He added that Dubai draws its vision from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, whose commitment to innovation and human capital development has helped transform Dubai into a leading global hub for business and opportunity. 

“The UAE’s leaders, through their actions and achievements, set a pioneering example in building a society defined by peace, tolerance, and prosperity, while establishing resilience and strength as fundamental characteristics of the UAE,” he stressed.

"The relationship between the India and the UAE is one of the strongest and most dynamic partnerships in the world. It is built on trade and investment, as well as on shared values, mutual respect, and the exceptional contributions made by the Indian community across various aspects of life in our country.

“Chartered accountants hold a significant position within this partnership. Accounting is the language of business, and you are entrusted with recording financial performance and fostering the trust that is essential to the success of companies, investors, and national economies.

"As you work to cement and uphold this trust, you must also navigate the rapid changes transforming your profession. Artificial intelligence will increasingly automate routine accounting tasks, while sustainability and digital finance continue to reshape the business landscape. Yet, I believe that these technologies will not replace wisdom, integrity, professional responsibility, or the ability to inspire trust; rather, these values ​​will become even more critical in the years ahead.

“This gathering also serves as a family occasion—a fact that holds special significance during the 'Year of the Community.' Strong families build strong communities, and your profession plays a vital role in helping families, entrepreneurs, and businesses plan for the future with confidence.”

In his concluding remarks, Sheikh Nahyan said: "I commend the Dubai Chapter of the ICAI for its role in fostering knowledge, upholding ethical standards, and serving the community. I also acknowledge your efforts in strengthening the enduring bonds of friendship between India and the UAE. I encourage you to continue upholding the highest professional standards, enriching the communities you serve, and inspiring future generations through your integrity, resilience, and commitment to excellence."

CA Rishi Chawla, Chairman of the Dubai Chapter of the ICAI, said, Chartered Accountants play a very important role in building trust on businesses and economy. “Like a doctor who examines health, we examine the financial health of a business, organisation, institution or a country’s economy and we ensure that the organisation remains financially resilient, sound,” he said.

“When adversity hits an institution, sound discipline helps it to comeback and businesses rely on the professionalism of Chartered Accountants for it to come back and remain resilient. This way, we contribute to ensure the financial health of the public and private sector and we all should be proud of our contribution.”

Indian government under Prime Minister Narendra Modi is focussing on inclusive growth, according to CA Arun Singh, a Member of the Rajya Sabha – the Upper Chamber of the Indian Parliament.

“Through Digital India, Make in India, Start-up India, AI and Innovation, the government is working for the growth of Indian economy. India has consistently been the fastest-growing country in the world in the last four consecutive years – that reflects our resilience, after a remarkable comeback from the COVID-1 pandemic.

“Despite the regional crisis in West Asia, some people might have left the UAE, but the Indians, especially the Chartered Accountants of India have never abandoned the UAE. They remained firmly grounded in the UAE, supporting the UAE’s national resilience – despite the challenging circumstances. This speaks highly about their character and their alignment with the UAE.”

CA Amit Khaitan, Vice-Chairman of the Dubai Chapter of the ICAI, says, “We create trust, Businesses and economies do not grow without trust. Investors don’t invest without trust. You come back from adversity when your purpose becomes bigger than your problems.”

India is looking to attract greater participation from overseas Indians in its growth story by encouraging Non-Resident Indians (NRIs) to invest more through their Foreign Currency Non-Resident (FCNR) accounts as NRI deposits reach approximately US$166 billion, including US$33.7 billion through FCNR accounts, More opportunities are emerging from India’s economic expansion, including a newly highlighted FCNR-linked wealth creation structure, startup investments and broader capital market participation, officials said.

Dr Deepak Mittal, Indian Ambassador to the UAE, said, “India today is one of the fastest-growing economies in the world and the fifth largest economy with its GDP exceeding US$4.4 trillion and annual trade reaching US$1.8 trillion. The story of India is that of come-backs and resilience – of our farmers and the 30 million NRIs living all over the world. India’s growth story is guided through the ‘Reform, Perform and Transform’ mantra.

“The UAE-India partnership is also a partnership of come-backs and resilience. The UAE-India trade has been flowing at more than US$100 billion per year over the last two years and the NRIs are a bridge between the two economies and play a very pivotal role in strengthening this relationship.

“Indian Government is increasing the investment ceiling for NRIs through FCNR accounts deposits and we are getting ready to connecting India’s Unified Payments Interface (UPI) with the UAE’s real-time payment platform – AANI – operated by Al Etihad Payments.”

Bollywood star Mahima Chaudhry, an accident and a cancer survivor shared her perspective on coming back from fatal accident that nearly ended her career in 2006.

“You need to be surrounded with the right people who could help you to come back from adversity and I bounced back twice – once from accident in 2006 and then from cancer in 2020,” she said, adding, “The best part about being in Dubai is that it is a foreign country that feels like home. Also, you don’t have to pay income tax here!”

She said, Indian nationals need to break free from others. “Due to being ruled by foreign powers for 300-400 years, Indians have been used to work for others, be dominated by others – unlike the people from the West and other regions who innovate and lead in almost everything and we follow them or consume their products,” she said.

“It’s high time we break free and take a leading role in innovation, science and technology.”

ICAI is the largest professional body of Chartered Accountants across the world with over 1,000,000+ students and around 450,000+ members. ICAI has a wide network with five Regional Councils, 176 Branches, 54 Overseas Chapters, and 31 representative offices across the globe. And among 54 overseas chapters, ICAI Dubai Chapter is the largest and most vibrant chapter of ICAI. Of the 8,000 Indian Chartered Accountants active in the UAE‘s private sector, 1,400+ are currently leading businesses in senior positions.

Photo Caption:

H.E. Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence, inaugurated the Chartered Accountants Day, organised by the Dubai Chapter of the Institute of Chartered Accountants of India, reaffirming that UAE–India relations are among the strongest and most dynamic partnerships in the world, built on trade, investment, shared values, and mutual respect.

Ends

Editor’s Notes

About The Institute of Chartered Accountants of India (ICAI)

The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India. During its 77 years of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. ICAI now is the largest accounting body in the whole world.

ICAI Dubai Chapter

The Institute of Chartered Accountants of India (ICAI), Dubai Chapter, is the largest accounting professionals’ group comprising of some of the most powerful players in the UAE’s public and private sectors. Established in 1982, it is the largest, most active and award-winning chapter among the 54 overseas chapters of ICAI. It has registered a phenomenal growth in membership in recent years and currently has nearly 3,200 members. Members represent more than 1,550 multinationals and other companies.

Its vision is to contribute to the development of its members as global professionals through facilitating continuous learning and recognition in the wider community. Its mission is to develop professionals with world class competencies.

Web: https://icaidubai.org/

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