UAE Announces $5-Billion Investment In India As PM Modi Visits Abu Dhabi

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From Abu Dhabi, Modi departed for the European leg of his tour, with planned visits to the Netherlands, Sweden, Norway, and Italy to follow before returning to New Delhi on May 20.

PM Modi thanked President Sheikh Mohammed bin Zayed Al Nahyan for warm hospitality and invited him to visit India at an early date.

The Virtual Trade Corridor using MAITRI was welcomed, a digital framework linking customs and port authorities to streamline cargo movement and reduce costs and transit times.

A tripartite agreement with the Centre of Excellence in Maritime and Shipbuilding focused on skill development in ship repair to position India as a hub for maritime professionals.

A Memorandum of Understanding between Cochin Shipyard Limited and Dubai's Drydocks World was signed on setting up a Ship Repair Cluster at Vadinar, including offshore fabrication.

A term sheet was signed to establish an 8 Exaflop Super Compute Cluster in partnership between India's CDAC and the UAE's G-42, marking a major technology collaboration.

A Framework for Strategic Defence Partnership was signed, aiming to deepen defence industrial collaboration, innovation, training, joint exercises, maritime security, cyber defence, and secure communications and information exchange.

The International Holding Company announced a $1 billion investment in Sammaan Capital of India.

The Abu Dhabi Investment Authority (ADIA) will deploy $1 billion alongside India's National Infrastructure and Investment Fund (NIIF) into priority infrastructure projects.

Emirates NBD committed $3 billion to India's RBL Bank as part of the announced $5 billion UAE investment package.

A separate arrangement between Indian Oil Corporation (IOCL) and ADNOC on long-term LPG supplies was formalised.

The two nations agreed to work together to establish strategic gas reserves in India.

A Strategic Collaboration Agreement between Indian Strategic Petroleum Reserves Limited and ADNOC was signed, under which the UAE will enhance its participation in India's Strategic Petroleum Reserves to 30 million barrels.

Prime Minister Narendra Modi met with UAE President Sheikh Mohammed bin Zayed Al Nahyan in Abu Dhabi. The discussions yielded a landmark defence partnership framework, a $5 billion investment package, and energy agreements.