India-UAE Ties Strengthen: Energy, Trade, and Cooperation

High-Level Meetings and Agreements

• Prime Minister Narendra Modi welcomed UAE President Mohamed bin Zayed Al Nahyan (MBZ) in Ahmedabad

Four agreements finalized during their meeting:

a) Renewable energy investment cooperation

b) Food parks development

c) Innovative healthcare projects

d) Green and sustainable ports development with DP World

• These agreements align with I2U2 grouping plans (India-Israel-UAE-US)
• UAE Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan visited India in September 2024

Five MoUs/agreements signed during the Crown Prince's visit:

a) Long-term LNG supply to Indian Oil Corporation

b) Oil storage exploration with India Strategic Petroleum Reserve Limited

c) Nuclear cooperation between NPCIL and ENEC

d) Oil concession for Urja Bharat in Abu Dhabi Onshore Block 1

e) Food parks development in Gujarat

Vibrant Gujarat Global Summit 2024

• 10th edition held from January 10-12, 2024
• Theme: "Gateway to the Future"
• Participation from over 100 countries, with 30 partner nations
• Notable attendees: UAE President Mohamed bin Zayed Al Nahyan (MBZ), Czech PM Petr Fiala, Timor-Leste President José Ramos Horta, Mozambique President Filipe Nyusi
• Focus areas: Technology, innovation, sustainable manufacturing, green hydrogen, electric mobility, renewable energy
• DP World expected to sign MoUs worth over ₹30,000 crore

Strengthening India-UAE Relations

• Fourth meeting between Modi and Mohamed bin Zayed Al Nahyan in less than seven months
• Bilateral trade in 2023-24: $83.6 billion (UAE is India's third-largest trading partner)
• UAE home to 3.5 million Indian expatriates
• Local Currency Settlement System signed in July 2023 for bilateral trade
• First India-UAE bilateral army exercise 'Desert Cyclone' held in January 2024
• BAPS Hindu Mandir, first grand Hindu temple in Middle East, to be inaugurated by PM Modi on February 14, 2024, in Abu Dhabi

Strategic Importance and Future Cooperation

• West Asia provides nearly 45% of India's energy supplies

UAE's investment plans:

a) $2 billion for integrated food parks in India

b) 300MW hybrid renewable energy project in Gujarat

• Virtual trade corridor and MAITRI interface initiated to facilitate trade
• Aims to promote free trade and achieve $100 billion in non-oil trade by 2030

Cooperation in nuclear energy sector:

a) UAE has a 5.6 GW nuclear power plant at Barakah, Abu Dhabi

b) MoU to facilitate cooperation in nuclear plant operations and maintenance

Oil and gas collaboration:

a) ADNOC to supply LNG to Indian companies

b) First-time allowance for an Indian company (Urja Bharat) to bring crude oil from Abu Dhabi oil fields