Prime Minister Narendra Modi’s brief visit to the UAE on Friday yielded several significant strategic, energy, and investment agreements for India. During this visit, key accords were signed between India and the UAE spanning the sectors of defence, energy security, infrastructure, and investment. As per the announced outcomes of the visit, India and the UAE signed an Agreement on Framework for the Strategic Defence Partnership, further strengthening bilateral strategic and security cooperation. The two countries also signed a Memorandum of Understanding on Strategic Petroleum Reserves and an agreement on supplies of Liquefied Petroleum Gas (LPG), boosting cooperation in the energy sector.
In the maritime sector, both the nations signed an MoU on setting up a Ship Repair Cluster at Vadinar. In a major investment announcement, investments worth USD 5 billion were announced in Indian infrastructure as well as in RBL Bank and Samman Capital.
Earlier in the day, PM Modi landed in the UAE, marking the beginning of a five-nation visit that will also include the Netherlands, Sweden, Norway, and Italy. PM Modi landed in Abu Dhabi in the afternoon, where he was welcomed by UAE President Sheikh Mohamed bin Zayed Al Nahyan. He received a guard of honour after arrival.
Key agreements and announcements:
- A consensus was reached between India and the UAE on a Strategic Defence Partnership Framework Agreement. This partnership will extend to areas such as the defense industry, cyber security, counter-terrorism, innovation, and interoperability.
- An MoU was signed regarding Strategic Petroleum Reserves, which will further bolster India’s energy security.
- An agreement was reached concerning the long-term supply of Liquefied Petroleum Gas (LPG). The UAE already ranks among India’s leading suppliers of crude oil and LNG.
- An MoU was signed for the establishment of a Ship Repair Cluster at Vadinar in Gujarat.
- The UAE announced an investment of US $5 billion in India. This investment will be directed toward the Indian infrastructure sector, RBL Bank, and Sammaan Capital.
- The growing partnership between India and the UAE is regarded as immensely significant in terms of India’s strategic presence in West Asia and its energy security.
PM Modi thanks UAE President for warm welcome
Prime Minister Narendra Modi also held delegation-level talks with the UAE President Sheikh Mohamed bin Zayed Al Nahyan. On his arrival, he was accorded a guard of honour as he landed in Abu Dhabi. During his delegation-level talks with UAE President Sheikh Mohammed bin Zayed Al Nahyan, PM Modi said, “You expressed condolences to the families affected by the natural disaster in the past few days (in India). I express gratitude to you for this.”
He added, “I express heartfelt gratitude to you for the warm welcome. Just like you said – I have come to my second home. This sentiment is a huge capital of my life. Your Air Force jets escorted me today. This is an honour to the people of India.”
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