India and UAE Sign Major Agreements on Defence, Energy and Investment

Narendra Modi arrived in Abu Dhabi, the capital of the United Arab Emirates, on Thursday, where he received a warm welcome from UAE President Mohamed bin Zayed Al Nahyan. Prime Minister Modi thanked the UAE President for the warm reception during his visit to Abu Dhabi. During the bilateral meeting, Modi said, “I have come to my second home. This feeling is one of the greatest treasures of my life. Today, your Air Force jets escorted me, and it is an honour for the people of India.” Following the welcome ceremony, the two leaders held high-level bilateral talks, during which several important agreements related to defence, energy and strategic cooperation were finalised. India and the UAE also signed a framework agreement aimed at strengthening their strategic defence partnership. According to available information, both countries reached an important agreement regarding LPG supply cooperation. The agreements signed during the meeting cover sectors including defence, energy, investment and infrastructure collaboration. In addition, the two sides signed a Memorandum of Understanding (MoU) concerning the Strategic Petroleum Reserve. Another agreement was signed for the establishment of a ship repair cluster at Vadinar. The UAE also announced an investment of $5 billion in Indian infrastructure projects, RBL Bank and Samman Capital. The investment is expected to further strengthen economic and trade relations between the two nations.