UAE–India Banking Partnership Reflects the Strength of India’s Growing Economy: CM Devendra Fadnavis

Mumbai, June 2026 : Maharashtra Chief Minister Devendra Fadnavis said that the growing confidence of global investors in India’s economy is reflected in the banking partnership between the United Arab Emirates (UAE) and India. He described the collaboration between banks from two of the strongest economies on either side of the Arabian Sea as a symbol of India’s economic progress and global financial relevance.

Fadnavis was speaking at a partnership event between Emirates NBD (National Bank of Dubai) and RBL Bank (Ratnakar Bank Limited) held at the Taj Palace Hotel in Colaba, Mumbai.

Union Finance Minister Nirmala Sitharaman joined the event through video conferencing. The programme was attended by RBL Bank Director Chandan Sinha, Managing Director and CEO R. Subramaniakumar, Secretary of the Union Finance Department Sanjay Lohiya, Emirates NBD Vice Chairman and Managing Director Hisham Abdullah Al Qassim, Group CEO Shayne Nelson, and other senior officials.

Addressing the gathering, Chief Minister Fadnavis said that under the leadership of Prime Minister Narendra Modi, India has emerged as the world’s fastest-growing major economy. He noted that Maharashtra has played a significant role in this growth story, attracting nearly 40 per cent of the country’s foreign direct investment (FDI).

He highlighted the state’s immense investment potential, citing major infrastructure projects such as the Samruddhi Mahamarg, extensive urban infrastructure development in Mumbai, and a strong transportation network. These initiatives, he said, have positioned Maharashtra at the forefront of India’s development journey.

Fadnavis also praised the growth of RBL Bank, which began its journey in Maharashtra and has since expanded its operations globally. He said the bank’s success reflects the strength and resilience of the Indian economy.

Describing the partnership between Emirates NBD and RBL Bank as a historic milestone, the Chief Minister said it represented one of the most significant examples of foreign investment and financial cooperation in India. “This event is not merely about the exchange of documents; it is about creating history,” he remarked.

He added that relations between India and the UAE have strengthened considerably under Prime Minister Modi’s leadership, and the banking partnership is another example of the deepening ties between the two nations. According to Fadnavis, many leading international financial institutions are now eager to collaborate with Indian banks, a trend that will further support India’s economic growth.

The Chief Minister also highlighted RBL Bank’s contributions through corporate social responsibility (CSR) initiatives. He noted that the bank has been a major partner in social development projects, particularly in rural Maharashtra, helping bring positive changes to communities.

Speaking on the occasion, Emirates NBD Vice Chairman and Managing Director Hisham Abdullah Al Qassim said the partnership would further strengthen trade and investment flows between the UAE and India. He expressed confidence that more Indian entrepreneurs would explore investment opportunities in the UAE as a result of enhanced banking cooperation.

Emirates NBD Group CEO Shayne Nelson described India as one of the world’s fastest-growing economies, with a rapidly expanding market and a large consumer base. He said the partnership with RBL Bank would enable Emirates NBD to expand its presence in India and deliver stronger financial services across the country.

Nelson added that the UAE is committed to participating in India’s growth story and sees the partnership as an important step toward deepening economic and financial cooperation between the two countries.

The event concluded with Emirates NBD presenting an investment cheque to RBL Bank. Senior executives and officials from both banks were present at the ceremony, marking the beginning of a new phase in India-UAE banking relations.