PM Modi’s UAE Visit: Brief but Highly Productive, Yields $5B Boost

The departure, marked by a "warm hug" between the two leaders, followed a high-intensity visit that PM Modi, in a series of posts described as "short but highly productive".

Taking to X, the Prime Minister stated, "Held extensive discussions with my brother, His Highness Sheikh Mohamed bin Zayed Al Nahyan, on ways to further deepen the India-UAE Comprehensive Strategic Partnership. I am confident that the outcomes of this visit will further strengthen our friendship and contribute to growth and prosperity."

Reflecting on the whirlwind diplomacy, MEA spokesperson Randhir Jaiswal noted that the visit was "brief in duration, significant in outcomes", underscoring a new chapter in the bilateral saga.

During their high-level deliberations, PM Modi reaffirmed India's "strong condemnation of the attacks on the UAE" and expressed unwavering "solidarity with the leadership and the people of the UAE".

Addressing regional stability, the Prime Minister advocated for "safe transit passage and unimpeded navigation through the Strait of Hormuz", a critical artery for global energy and food security.

The summit yielded a massive economic breakthrough with the announcement of "USD 5 billion in investment into India by UAE entities".

This financial package includes USD 3 billion from the Emirates New Development Bank into RBL Bank, USD 1 billion from the Abu Dhabi Investment Authority for infrastructure via the NIIF, and USD 1 billion from the International Holding Company into Sammaan Capital.

The energy pillar was further fortified through a "Strategic Collaboration Agreement" between Indian Strategic Petroleum Reserves Limited and ADNOC, aimed at increasing the UAE's participation in India's reserves to "30 million barrels".

Both sides also explored the creation of "strategic gas reserves in India" and finalised long-term arrangements for LPG supplies.

On the security front, the leaders welcomed a "Framework for the Strategic Defence Partnership", designed to accelerate "defence industrial collaboration", maritime security and "cyber defence".

Technological and maritime milestones were also achieved, including an agreement for an "eight Exaflop Super Compute Cluster" involving India's CDAC and the UAE's G-42.

Furthermore, the duo witnessed the operationalisation of a "Virtual Trade Corridor using MAITRI", a digital interface set to revolutionise cargo movement and "reduce both costs and transit time" between the two strategic allies.

- ANI