New Delhi : Prime Minister Narendra Modi’s visit to the United Arab Emirates witnessed the signing of several strategic agreements and investment announcements aimed at deepening cooperation in energy, defence, maritime infrastructure, technology and investment.
A major outcome of the visit was the signing of a Memorandum of Understanding between Indian Strategic Petroleum Reserves Limited (ISPRL) and Abu Dhabi National Oil Company (ADNOC) for strategic collaboration in petroleum reserves and energy storage infrastructure. Under the agreement, ADNOC may store up to 30 million barrels of crude oil in India’s strategic petroleum reserves, including facilities at Visakhapatnam in Andhra Pradesh and upcoming reserves at Chandikol in Odisha. The agreement also explores crude oil storage in Fujairah, UAE, as part of India’s strategic petroleum reserve framework, along with possible collaboration in LNG and LPG storage facilities in India.
Another key agreement was signed between Indian Oil Corporation Limited (IOCL) and ADNOC for cooperation in liquefied petroleum gas supplies. The agreement aims to explore long-term LPG supply arrangements and broader opportunities in LPG trade between the two sides.
India and the UAE also signed a Framework for Strategic Defence Partnership to strengthen cooperation in defence industrial collaboration, innovation, advanced technology, training, military exercises, maritime security, cyber defence, secure communications and information exchange.
In the maritime sector, Cochin Shipyard Limited signed an MoU with Drydocks World for establishing a ship repair cluster at Vadinar under India’s Maritime Development Fund Scheme. The project will also include offshore fabrication activities.
A separate tripartite agreement was signed between Cochin Shipyard Limited, Drydocks World and the Centre of Excellence in Maritime and Shipbuilding (CEMS) to enhance skill development in shipbuilding and ship repair. The agreement seeks to create a framework for training and employing skilled maritime workers while positioning India as a global hub for shipbuilding and ship repair professionals.
In the technology sector, a term sheet was signed between Centre for Development of Advanced Computing (CDAC) and G42 for setting up an 8 Exaflop supercomputing cluster under India’s AI Mission.
The visit also saw major investment announcements from UAE entities into India. Abu Dhabi Investment Authority (ADIA) and the National Infrastructure and Investment Fund (NIIF) agreed to explore investments of up to USD 1 billion in India’s infrastructure sector.
Additionally, Emirates NBD announced a USD 3 billion investment in RBL Bank, while International Holding Company committed USD 1 billion investment in Sammaan Capital.
The agreements and investment commitments signed during the visit are expected to further strengthen the India-UAE Comprehensive Strategic Partnership across key sectors including energy security, defence cooperation, maritime infrastructure, advanced technology and long-term investment collaboration.