New Delhi, Dec 16: Prime Minister Narendra Modi’s recent visit to Jordan has significantly strengthened the economic ties between India and Jordan, highlighted by the signing of five Memoranda of Understanding (MoUs) in the domains of renewable energy, water resource management, cultural exchange, digital solutions, and a collaborative project linking Petra and Ellora.
During discussions with King Abdullah II, Modi emphasized enhancing bilateral trade to $5 billion over the next five years and proposed collaboration between Jordan’s digital payment systems and India’s Unified Payments Interface (UPI).
Jordan serves as a crucial supplier of fertilizers, particularly phosphates, to India, and ongoing discussions aim to fortify investments to meet India’s growing fertilizer demand. This visit, marking the 75th anniversary of diplomatic relations, acknowledges India as Jordan’s third largest trading partner.
Currently, around 17,500 Indians reside in Jordan, primarily engaged in sectors like textiles, construction, and healthcare. India exports various goods to Jordan while importing fertilizers, which are crucial for Indian agriculture.
Noteworthy commercial ventures include the Jordan India Fertiliser Company (JIFCO), aimed at producing and exporting phosphoric acid to India, and over 15 garment-manufacturing firms owned by NRIs in Qualified Industrial Zones (QIZs), which collectively represent about $500 million in investment.
Furthermore, the Indian-Jordan Center of Excellence in Information Technology at Al-Hussein Technical University, fully funded by India, signifies the advancing technological collaboration, featuring premier IT infrastructure and training programs in emerging technologies such as Cyber Security and Machine Learning.
