India, UAE sign pacts in defense, energy during Modi's visit
What's the story
Prime Minister Narendra Modi's visit to the United Arab Emirates (UAE) has resulted in major strategic and economic agreements between India and the Gulf nation. The two countries signed pacts in defense cooperation, energy security, and infrastructure investment during PM Modi's brief trip. Notably, these agreements were signed in the presence of PM Modi and UAE President Mohammed bin Zayed Al Nahyan.
Defense and energy
Strategic defense partnership framework
Among the key announcements was an agreement on a framework for a strategic defense partnership between India and the UAE. This move highlights the growing security and military cooperation between the two nations. Additionally, a memorandum of understanding (MoU) on strategic petroleum reserves was signed to strengthen India's energy security ties with the Gulf nation.
Infrastructure investment
UAE to invest $5bn in Indian infrastructure projects
The UAE also announced investments worth $5 billion in Indian infrastructure projects. These investments will be made in RBL Bank and Samman Capital, further boosting India's financial institutions. The move underscores continued investor confidence in India's growth story despite global economic challenges.
Diplomatic discussions
Need for dialogue, diplomacy to resolve regional tensions emphasized
During his meeting with President Mohammed bin Zayed Al Nahyan (MBZ), PM Modi emphasized the need for "dialogue and diplomacy" to resolve regional tensions. He praised MBZ for showing "remarkable patience in a difficult situation." The Prime Minister also condemned attacks on the UAE and reiterated India's support, saying, "India stands shoulder-to-shoulder with the UAE in every situation, and it will continue to do so."
International tour
PM Modi's 5-nation tour
PM Modi's visit to the UAE is the first leg of a five-nation tour from May 15-20. The tour aims to deepen India's strategic engagement with Europe and the Gulf region across sectors such as trade, technology, energy, innovation, and green growth. After Abu Dhabi, PM Modi will travel to the Netherlands for talks on semiconductors and green hydrogen, among other topics.