Prime Minister Narendra Modi held a bilateral meeting with Abu Dhabi Crown Prince Sheikh Khalid bin Mohammed bin Zayed Al Nahyan on September 11. In this meeting, the two countries emphasized on further strengthening the overall strategic relations. Under this, five major agreements were signed, which include nuclear energy, oil, and trade cooperation.
Five major agreements between India and UAE:
Nuclear Power Plant Operations: Agreement signed between Emirates Nuclear Energy Company and Nuclear Power Corporation of India (NPCIL) for operation and maintenance of Barakah Nuclear Power Plant. Long Term Supply of LNG: Agreement signed between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited for long term supply of liquefied natural gas (LNG). Petroleum Reserves: Agreement signed between ADNOC and India Strategic Petroleum Reserves Limited (ISPRL) for petroleum reserves. Development of Food Park: Agreement signed between Government of Gujarat and Abu Dhabi Development Holding Company for development of Food Park in India. Abu Dhabi Onshore Block-1: Agreement signed for production concession of Abu Dhabi Onshore Block-1 for power generation.
Why is UAE important for India?
Trade: Annual trade between India and the UAE is over $85 billion. The UAE is one of India’s largest trading partners, especially in terms of exports. Investment: The UAE is one of the top four foreign investors in India. Cultural and educational ties: Over 100 international schools in the UAE follow the Indian syllabus (CBSE and Kerala Board).
Cultural and Historical Ties between the Two Countries:
India and UAE relations are not only trade-related, but also culturally and historically deep. Since Prime Minister Modi’s visit to the UAE in 2015, the relations between the two countries have been elevated to a comprehensive strategic partnership. Since then, the two countries have promoted mutual cooperation in many areas.
Role of UAE in BRICS and SCO:
With India’s support, the UAE became a member of BRICS and the Shanghai Cooperation Organisation (SCO). This meeting will further strengthen the relations between the two countries and is expected to touch new heights in the field of trade, energy and cultural cooperation.
