Major UAE Investment and Defence Enhancements from Modi's Visit

On Friday, Prime Minister Narendra Modi arrived in the United Arab Emirates, engaging in pivotal discussions with President Mohammed bin Zayed Al Nahyan in Abu Dhabi. The meetings yielded significant agreements across defence, energy, technology, trade, and investments, highlighting one of the key results of PM Modi’s extensive diplomatic travels.

Upon his arrival, PM Modi was welcomed at the airport by President Sheikh Mohammed bin Zayed Al Nahyan, followed by extensive discussions aimed at enhancing the India-UAE Comprehensive Strategic Partnership.

During the talks, PM Modi firmly denounced the recent attacks on the UAE, reaffirming India's support for the UAE's leadership and citizens. He underscored the crucial need for safe passage through the Strait of Hormuz, emphasizing its importance for regional stability and global food and energy security.

Significant Energy Collaborations Established

Energy security was a focal point of the discussions. The two nations formed a Strategic Collaboration Agreement between Indian Strategic Petroleum Reserves Limited and the Abu Dhabi National Oil Company (ADNOC), ensuring UAE's increased role in India’s Strategic Petroleum Reserves, now set at 30 million barrels.

Additionally, they agreed to jointly establish strategic gas reserves in India. A key long-term agreement was made between Indian Oil Corporation (IOCL) and ADNOC for LPG supply.

The leaders acknowledged the UAE as one of India's most reliable sources for crude oil, LNG, and LPG, aiming to expand mutual cooperation in the energy sector.

$5 Billion Investment Announced by UAE

The visit also heralded a substantial investment growth for India, with UAE entities declaring an investment commitment of $5 billion.

• Emirates NBD plans to invest $3 billion in RBL Bank of India.

• Abu Dhabi Investment Authority (ADIA) intends to invest $1 billion in infrastructure projects alongside India’s National Infrastructure and Investment Fund (NIIF).

• International Holding Company will allocate $1 billion in India’s Sammaan Capital.

India’s Ministry of External Affairs noted that these investments reflect the UAE’s enduring confidence in India's economic future.

Strengthened India-UAE Defence Relations

Both nations have also entered into a Framework for Strategic Defence Partnership to enhance military and security collaboration.

This agreement promotes cooperation in defence manufacturing, cutting-edge technologies, military training, joint exercises, maritime security, cyber defense, and secure information communication.

The leaders characterized this framework as a critical advancement in solidifying their long-term defence ties.

Advancements in Technology, Trade, and Shipping

Numerous agreements were also established in the fields of technology and maritime activities.

India’s CDAC and UAE's G-42 signed a term sheet aiming to develop an 8 Exaflop Super Compute Cluster, a noteworthy progression in technology exchange.

Moreover, two MoUs were formed including one between Cochin Shipyard Limited and Dubai’s Drydocks World to set up a Ship Repair Cluster at Vadinar, and another tripartite agreement to promote skill development within maritime and ship repairing sectors, assisting India to become a global maritime leader.

The leaders also endorsed the launch of the Virtual Trade Corridor under the MAITRI digital framework, designed to connect customs and port authorities for more efficient cargo movement and reduced costs.

The sessions further emphasized the successes following the India-UAE Comprehensive Economic Partnership Agreement (CEPA), which has greatly amplified trade between the two nations.

Expressing gratitude for the hospitality, PM Modi extended an invitation for President Sheikh Mohammed bin Zayed Al Nahyan to visit India soon. After wrapping up his UAE visit, PM Modi headed to Europe, with plans to visit the Netherlands, Sweden, Norway, and Italy before returning to New Delhi on May 20.