New Delhi: India and the United Arab Emirates signed multiple strategic agreements during the Prime Minister’s visit to the UAE. The agreements covered energy cooperation, defence partnership, shipbuilding, artificial intelligence, and infrastructure investments.
One of the major outcomes included a strategic collaboration between Indian Strategic Petroleum Reserves Limited and Abu Dhabi National Oil Company. The agreement allows potential storage of ADNOC crude oil in India’s strategic petroleum reserves up to 30 million barrels. The collaboration also includes facilities in Visakhapatnam and development of reserve infrastructure in Chandikol, Odisha.
The agreement further explored storage of crude oil in Fujairah in the UAE as part of India’s strategic petroleum reserve. Both sides also discussed possible cooperation in Liquified Natural Gas and Liquified Petroleum Gas storage facilities in India.
Indian Oil Limited and ADNOC also signed a strategic collaboration agreement on Liquified Petroleum Gas supplies. The agreement aims to explore long-term LPG supply arrangements between ADNOC Gas Limited and IOCL.
India UAE agreements expand defence and technology cooperation
India and the UAE also announced a framework for a strategic defence partnership. The framework covers defence industrial collaboration, advanced technology, maritime security, cyber defence, secure communications, and military training.
Cochin Shipyard Limited signed a memorandum of understanding with Drydocks World for setting up a Ship Repair Cluster at Vadinar under the Maritime Development Fund Scheme. Another tripartite agreement between Cochin Shipyard Limited, Drydocks World, and the Centre of Excellence in Maritime and Shipbuilding focused on skill development in ship repair.
The agreement aims to mobilise, train, and employ skilled maritime workers. Officials said the partnership would strengthen India’s shipbuilding and ship repair capabilities.
India and the UAE also signed a term sheet for setting up an 8 Exaflop Super Computing Cluster in partnership between CDAC and G-42. The project will support AI Mission India through advanced computing infrastructure.
Several investment announcements also formed part of the outcomes. Abu Dhabi Investment Authority and the National Infrastructure & Investment Fund of India will explore investments up to US$1 billion in India’s infrastructure sector.
Emirates NBD announced plans to invest US$3 billion in RBL Bank. International Holding Company also announced a proposed investment of US$1 billion in Sammaan Capital of India.
