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India UAE Strategic Energy Partnership
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Quiz · India UAE Strategic Energy Partnership
Two Prelims-style questions on this topic from 29 September 2026. Choose an option to check yourself, then open the full note or today’s full quiz.
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Consider the following statements regarding the recent India-UAE bilateral developments: 1. The UAE has announced an additional $25 billion investment plan in India targeting strategic petroleum reserves and subsea energy pipelines. 2. Bilateral trade between the two nations has reached a target of $200 billion ahead of the 2032 deadline. Which of the statements given above is/are correct?
A
2 only
B
1 only
C
Neither 1 nor 2
D
Both 1 and 2
Solution
With reference to bilateral economic mechanisms between India and the UAE, the 'Local Currency Settlement System' refers to:
A
A multilateral treaty requiring all Middle Eastern nations to settle crude oil purchases exclusively in US Dollars.
B
A banking consortium established by the World Bank to clear sovereign debt defaults.
C
A bilateral mechanism allowing trade transactions in local currencies rather than third-party currencies like USD.
D
A digital cryptocurrency launched jointly by the central banks of both nations for retail payments.
Solution
