India’s prestigious Indian Institute of Technology, better known as IIT, will begin courses in Abu Dhabi next year, the country's envoy to the UAE has said.
Sunjay Sudhir, Indian ambassador to the UAE, outlined details about the IIT’s first campus outside India.
There are 23 IITs in India and the institute is famous for producing graduates ranked among the world’s most successful innovators, engineers and entrepreneurs.
Alumni include Sundar Pichai, Google's chief executive and Narayana Murthy, founder of software giant Infosys.
“We can expect the commencement of courses at IIT Abu Dhabi within a year’s time,” Mr Sudhir told The National in an interview on milestones reached since the signing of the Comprehensive Economic Partnership Agreement between the UAE and India on February 18 last year.
“It would be an independent IIT so initially it would offer a few academic programmes but eventually it will have all the academic programmes like undergraduate, post-graduate and PhD courses.”
IITs are premier educational institutes in India, known for a rigorous curriculum in engineering and technology.
Often called the MIT and Harvard of India, the acceptance rate is only about 1.7 per cent, with more than 900,000 students vying for about 16,600 places last year.
Truly global campus
The IIT Delhi, one of the oldest and most respected, will mentor IIT Abu Dhabi.
“The idea behind setting up of IIT Abu Dhabi is to bring the academic excellence of IITs to the wide international community. Therefore, IIT Abu Dhabi will also aspire to be a truly global campus having good mix of Indian, Emirati and other nationalities,” Mr Sudhir said
“IIT Abu Dhabi is a landmark project which reflects the vision of our leaders and it will be a tribute to the people of India and the UAE who are the backbone of our historic relationship.”
A joint working group will identify the location for the temporary and permanent campuses in Abu Dhabi, finalise the start date and qualification criteria.
The group with experts from IIT Delhi and the Abu Dhabi Department of Education and Knowledge (Adek) has held regular meetings and an agreement is close to being finalised to chart out specific roles and responsibilities.
The first official reference to the UAE being home to an IIT was made last February when President Sheikh Mohamed, at the time Crown Prince of Abu Dhabi, and Indian Prime Minister Narendra Modi issued a joint vision statement.
Huge job opportunities
The historic trade agreement that came into force on May 1 last year has sparked job creation opening up opportunities in both countries.
Mr Sudhir said the agreement resulted in notable 27.5 per cent growth in bilateral trade.
Early gains are apparent with bilateral trade rising to $57.8 billion from April to November 2022 from $45.3 billion in the same period the year before.
“There has been impressive growth in all major sectors like gems and jewellery, mineral products, engineering goods, electronics, plastic and rubber,” Mr Sudhir said.
“Cepa will create huge job opportunities in India as India’s exports are poised to grow.
“The impressive growth of $12.5 billion in bilateral trade would have resulted in many new job opportunities in both countries.”
India’s exports over eight months registered about 19 per cent growth, reaching $20.8 billion from $17.45 billion in labour-intensive sectors such as gems and jewellery, food and agricultural sectors.
Wider market access
The business community in both countries has benefitted from duty waivers and better market access.
“Cepa is particularly beneficial for small and medium enterprises in both countries,” Mr Sudhir said.
“The agreement enables them to use the duty waivers to boost their standing and scale up.”
The agreement is also critical for access to affordable medicines.
“Both nations have agreed to facilitate quick market access of finished pharmaceutical products to improve the health of their populations,” Mr Sudhir said.
The UAE and India have decided to grant fast-track approval for the registration of medicines that are cleared by at least one regulatory authority in countries such as Australia, Canada, Japan, the US, the UK or the EU.
Committees are being finalised to oversee implementation.
The pact covers all economic interactions with the UAE, including jewellery, trade, investment, healthcare and digital trade.
“The gems and jewellery sector is among the industries which are poised to gain considerably from Cepa,” the ambassador said.
“The agreement has come at an opportune time when both countries are looking to rebound from the Covid-19 setback and realign their common business interests.”
India’s jewellery exports to the UAE, in a negative trajectory during the pandemic, have rebounded.
From April to November, India’s gems and jewellery exports to the UAE reached $3,761 million from $3,105 million over the same period the year before, registering an increase of 21 per cent.
Cultural dialogue
Education co-operation is key with progress made on exchanging information on qualifications issued by educational institutions so training and certificates are mutually recognised.
Plans are moving ahead for an India-UAE Cultural Council Forum for more dialogue and visits between artists, poets and authors.
Mr Sudhir said the new council would draw two creative communities closer, and “promote a common cultural heritage and strong ties that lie deeply rooted in history.”
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MATCH DETAILS
Liverpool 2
Wijnaldum (14), Oxlade-Chamberlain (52)
Genk 1
Samatta (40)
Company Profile
Company name: OneOrder
Started: October 2021
Founders: Tamer Amer and Karim Maurice
Based: Cairo, Egypt
Industry: technology, logistics
Investors: A15 and self-funded
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Mohammed bin Zayed Majlis
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Federer's 11 Wimbledon finals
2003 Beat Mark Philippoussis
2004 Beat Andy Roddick
2005 Beat Andy Roddick
2006 Beat Rafael Nadal
2007 Beat Rafael Nadal
2008 Lost to Rafael Nadal
2009 Beat Andy Roddick
2012 Beat Andy Murray
2014 Lost to Novak Djokovic
2015 Lost to Novak Djokovic
2017 Beat Marin Cilic
MATCH INFO
Confederations Cup Group B
Germany v Chile
Kick-off: Thursday, 10pm (UAE)
Where: Kazan Arena, Kazan
Watch live: Abu Dhabi Sports HD
Schedule for show courts
Centre Court - from 4pm UAE time
Johanna Konta (6) v Donna Vekic
Andy Murray (1) v Dustin Brown
Rafael Nadal (4) v Donald Young
Court 1 - from 4pm UAE time
Kei Nishikori (9) v Sergiy Stakhovsky
Qiang Wang v Venus Williams (10)
Beatriz Haddad Maia v Simona Halep (2)
Court 2 - from 2.30pm
Heather Watson v Anastasija Sevastova (18)
Jo-Wilfried Tsonga (12) v Simone Bolelli
Florian Mayer v Marin Cilic (7)
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Company%20Profile
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
How Apple's credit card works
The Apple Card looks different from a traditional credit card — there's no number on the front and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Its attributes include quick sign-up, elimination of most fees, strong security protections and cash back.
What does it cost?
Apple says there are no fees associated with the card. That means no late fee, no annual fee, no international fee and no over-the-limit fees. It also said it aims to have among the lowest interest rates in the industry. Users must have an iPhone to use the card, which comes at a cost. But they will earn cash back on their purchases — 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card. Apple says it is the only card to provide those rewards in real time, so that cash earned can be used immediately.
What will the interest rate be?
The card doesn't come out until summer but Apple has said that as of March, the variable annual percentage rate on the card could be anywhere from 13.24 per cent to 24.24 per cent based on creditworthiness. That's in line with the rest of the market, according to analysts
What about security?
The physical card has no numbers so purchases are made with the embedded chip and the digital version lives in your Apple Wallet on your phone, where it's protected by fingerprints or facial recognition. That means that even if someone steals your phone, they won't be able to use the card to buy things.
Is it easy to use?
Apple says users will be able to sign up for the card in the Wallet app on their iPhone and begin using it almost immediately. It also tracks spending on the phone in a more user-friendly format, eliminating some of the gibberish that fills a traditional credit card statement. Plus it includes some budgeting tools, such as tracking spending and providing estimates of how much interest could be charged on a purchase to help people make an informed decision.
* Associated Press
The biog
Hobby: Playing piano and drawing patterns
Best book: Awaken the Giant Within by Tony Robbins
Food of choice: Sushi
Favourite colour: Orange
The years Ramadan fell in May
UAE currency: the story behind the money in your pockets
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South and West: From a Notebook
Joan Didion
Fourth Estate
How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
Quick%20facts
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The Baghdad Clock
Shahad Al Rawi, Oneworld
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