PM Modi's UAE Visit Spurs Strategic Partnerships and Investments

Prime Minister Narendra Modi's recent visit to the United Arab Emirates resulted in substantial agreements that span critical sectors such as defence, energy, infrastructure, and banking. The visit culminated in the signing of an Agreement on Framework for the Strategic Defence Partnership, deepening security collaboration between the two nations.

In the energy domain, both countries inked a Memorandum of Understanding on Strategic Petroleum Reserves and an LPG supply agreement. The maritime sector also saw advancements with the signing of an MoU to establish a Ship Repair Cluster at Vadinar.

Investment commitments totaling USD 5 billion were announced, targeting Indian infrastructure projects and investments in RBL Bank and Samman Capital. During his UAE tour, PM Modi engaged in talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan and received a ceremonial welcome upon arrival in Abu Dhabi. Following this visit, Modi will address key sectors during his Europe and Gulf tour, including semiconductor technology, green hydrogen, and innovation.

(With inputs from agencies.)