India Partners With UAE’s Waterfalls Initiative

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The UAE Ambassador to India, Dr. Al Banna said India’s participation in the global project to deliver continuous medical education is to start with 52 doctors in India joining the initiative…reports Asian Lite Newsdesk

India has joined the Waterfalls Initiative for Continuous Education from UAE to the World, Dr. Ahmed Al Banna, the UAE Ambassador to India, has announced.

Waterfalls Initiative is the largest global initiative for continuous education and specialised remote training to medical professionals. 

At a virtual event attended by participants in both India and the UAE on Tuesday, Dr. Al Banna said India’s participation in the global project to deliver continuous medical education is to start with 52 doctors in India joining the initiative.

The initiative’s Indian partners, in their speeches, thanked His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for his timely decision in launching the initiative, which will benefit one million health professionals.

The virtual event was attended, among others, by Pavan Kapoor, India’s Ambassador to the UAE, Dr. Abdul Salam Al Madani, Executive Chairman of the Waterfalls Initiative and the Chairman of INDEX Holding, Colonel Abdulrahman Ali Al Mansouri, Director of the Executive O­ffice in the Department of Behavioural Rewards at the Ministry of Possibilities, and Dr. Aman Puri, Consul General of India in Dubai.

Uday Shankar, President Elect of the Federation of Indian Chambers of Commerce and Industry (FICCI), India’s premier industry organisation, described the Waterfalls Initiative as a “unique project in challenging times” and said FICCI was proud to be part of it.

Anas Al Madani, Vice Chairman and Group CEO of INDEX Holding, who was Master of Ceremonies at the virtual event, said India’s participation would contribute to “value addition” to the Waterfalls Initiative.

Sangita Reddy, Past President of FICCI and Joint Managing Director of Apollo Hospitals, a pre-eminent Indian medical enterprise, said the Waterfalls Initiative is an “outstanding” effort at a time of need. As someone from the medical fraternity, she said it would be a medical professional asset.

Dr. Alok Roy, Chairperson of FICCI’s Health Services Committee and Chairman of Medica Group of Hospitals, expressed the readiness of both these organisations to partner with the UAE Initiative with India’s manpower assets in the health sector.

Meanwhile, UAE and India are also aiming to treble the volume of their food trade in the next five years.

Optimism in achieving this goal was expressed by a multitude of speakers from the government and private sectors in both countries at the “UAE-India Food Security Summit 2020,” a two-day hybrid event, held last week.

The summit brought together about 200 businessmen, representatives of state-owned organisations, investors and other economic enterprises from the UAE and India.

Bullion Exchange

The stage has been set for India’s International Bullion Exchange to go into operation with the notification of its regulations in the official Gazette of India.

The Ministry of Finance here said in an announcement today that the International Financial Services Centre (IFSCA) in Gandhinagar, capital of Gujarat state, “has been entrusted with the responsibility of operationalization of this Exchange.”

The IFSCA was created in April this year and the plan to set up India’s International Bullion Exchange was revealed in her annual budget speech 2020 by the Minister of Finance and Corporate Affairs, Nirmala Sitharaman.

The regulations cover the entire gamut of the Bullion Trading and Exchange, including its Clearing Corporation, Depository and Vaults. “The Government of India has notified the bullion spot delivery contract and bullion depository receipt as financial products and related services as Financial Services under the IFSCA Act.”

India is a huge consumer of gold and its market for the precious yellow metal is historically linked to the Dubai gold souk. India’s major jewelers have had a presence in the souk for many decades and the emirate is a major source for gold re-exports to the Indian market.

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