India and UAE signed six agreements in energy, defense, technology and economic sectors

India and the United Arab Emirates (UAE) signed six key agreements and memoranda of understanding in the fields of energy, defense, maritime affairs, technology, and economy on Friday to further strengthen their strategic partnership. The UAE also announced an investment of $5 billion in India. These agreements were made after a bilateral meeting between Prime Minister Narendra Modi and UAE President Sheikh Mohammed bin Zayed Al Nahyan.

Among them, a key agreement is between the Indian Strategic Petroleum Reserves Limited (ISPRL) and the Abu Dhabi National Oil Company (ADNOC) to store up to 30 million barrels of crude oil at Vishakhapatnam and Chandikhol in India, as well as cooperation in storage in the UAE's Fujairah and India's LNG and LPG storage. Indian Oil Limited (IOCL) and UAE's ADNOC also signed another agreement on strategic cooperation on LPG supply, which will explore possibilities of long-term supply and purchase agreements.

In the defense sector, the two countries have established a framework for industrial cooperation, modern technology, training, special operations, maritime security, cyber defense, and secure communications, which will promote mutual cooperation and strategic harmony. Cochin Shipyard Limited (CSL) and Drydocks World (DDW) signed a memorandum of understanding to establish a ship repair cluster in Wadinar, which includes offshore fabrication.

Additionally, a tripartite agreement between Cochin Shipyard, Drydocks World, and the Center of Excellence in Maritime and Shipbuilding (CEMS) will create a framework for training and employing Indian maritime personnel, which will establish India as a global hub for shipbuilding and repair expertise. In the technology sector, India's Center for Development of Advanced Computing (CDAC) and the UAE's G42 have agreed to establish an 8 ExaFlop supercomputing cluster as part of India's AI mission.

UAE investors have also made major financial commitments, including a $1 billion investment in infrastructure by the Abu Dhabi Investment Authority (ADIA) and India's National Infrastructure and Investment Fund (NIIF), a $3 billion investment in RBL Bank of India by Emirates New Development Bank (ENDB), and a $1 billion investment in Summan Capital of India by International Holding Company. These agreements and investments will deepen the economic and strategic ties between the two countries, which will also boost India's energy and defense capabilities, as well as the development of the technology and maritime sectors.