New Delhi: India and the United Arab Emirates on Friday signed a series of agreements spanning defence cooperation, energy security and infrastructure investment during Prime Minister Narendra Modi’s visit to the Gulf nation. The agreements were exchanged in the presence of PM Modi and UAE President Mohammed bin Zayed Al Nahyan during the first leg of PM Modi’s five-nation tour.
The UAE also announced investments worth $5 billion in Indian infrastructure as well as in RBL Bank and Samman Capital, marking a significant strengthening of economic ties between the two nations.
India-UAE strategic defence partnership
Among the key announcements was a framework agreement for a strategic defence partnership between India and the UAE, reflecting growing security and military cooperation between the two countries. The agreement highlights a deepening of bilateral ties beyond trade and energy, with both nations looking to collaborate more closely on defence and security matters in the region.
Energy security and LPG supply deals
The two sides signed a memorandum of understanding on strategic petroleum reserves and a separate agreement on supplies of liquefied petroleum gas, strengthening India’s energy security ties with the Gulf nation. The energy deals are particularly crucial given the ongoing West Asia conflict, which has disrupted global oil and gas supplies and put pressure on India’s import bill and foreign exchange reserves.
PM Modi stresses dialogue amid West Asia conflict
PM Modi thanked the UAE leadership for taking care of the Indian community “like family,” highlighting the strong people-to-people ties between the two nations. He voiced concern over the impact of the West Asia conflict and stressed the need for dialogue and diplomacy to resolve regional tensions, reiterating India’s position of peaceful resolution to the ongoing crisis.