The UAE and India agreed to a series of agreements on security, energy, shipping and infrastructure during the visit of Indian Prime Minister Narendra Modi. The UAE also announced $5 billion in investments in India, aiming at creating more jobs and supporting the UAE’s long-standing commitment to India’s development and growth story, the Indian Embassy in the UAE said on the social media platform X.
Indian Strategic Petroleum Reserves Limited (ISPRL) and Abu Dhabi National Oil Company (ADNOC) struck an agreement to enhance energy security and augment India’s strategic petroleum reserves. The pact also envisions cooperation on liquefied natural gas (LNG) and liquefied petroleum gas (LPG) storage facilities in India.
The two countries also inked a separate agreement on cooperation on liquefied petroleum gas (LPG) that will boost long-term supply security and assist economic stability, while extending the strategic energy alliance.
On Friday, the two sides agreed on a framework for a strategic defence alliance that seeks to improve industry collaboration, accelerate innovation and enable technology transfer to strengthen national and regional security. The two countries also decided to set up a ship repair cluster at Vadinar, which is intended to boost India’s shipping, port and coastal infrastructure.
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