India and the United Arab Emirates (UAE) have taken major steps to deepen their Comprehensive Strategic Partnership, with the UAE agreeing to store up to 30 million barrels of crude oil in India’s Strategic Petroleum Reserve following Prime Minister Narendra Modi’s recent visit to the Gulf nation.
Foreign Secretary Vikram Misri on Friday outlined the key outcomes of the high-level discussions, highlighting significant agreements in the areas of energy security, defence, investment, advanced technology and maritime cooperation.
UAE to Boost Participation in India’s Strategic Oil Reserves
Speaking about the agreements signed during PM Modi’s brief but significant visit, Misri said energy cooperation remained a central pillar of India-UAE ties.
He stated that Indian energy companies and UAE entities, particularly the Abu Dhabi National Oil Company (ADNOC), finalised multiple agreements aimed at strengthening long-term energy collaboration.
“These include agreements on enhancing UAE participation in Indian strategic petroleum reserves to a level of 30 million barrels, the establishment of strategic gas reserves in India, and long-term LPG offtake supply agreements,” Misri said.
The move is expected to significantly enhance India’s energy security, especially amid global concerns over crude oil supply disruptions and instability in the West Asian region.
UAE Announces Fresh Investment Commitments Worth USD 5 Billion
The UAE also announced fresh investment commitments worth USD 5 billion across multiple sectors in India.
According to Misri, the investments include participation by Emirates NBD Bank in RBL Bank, investments by the Abu Dhabi Investment Authority (ADIA) in the National Infrastructure Investment Fund (NIIF), and investment by International Holding Company in Saman Capital of India.
The UAE is already India’s seventh-largest investor cumulatively over the past 25 years, and the latest commitments are expected to further strengthen financial and economic ties between the two nations.
India-UAE Sign Strategic Defence Partnership Framework
Defence cooperation emerged as another key focus area during the visit. Misri said both countries signed a framework agreement on a strategic defence partnership to strengthen collaboration in defence manufacturing, technology and equipment.
The agreements build upon discussions held earlier during UAE President Sheikh Mohamed bin Zayed Al Nahyan’s visit to India in January this year.
In the maritime sector, agreements were also signed between Cochin Shipyard Limited and Drydocks World of Dubai to establish a ship repair cluster at Vadinar in India and create a maritime skill development centre of excellence.
AI and Advanced Technology Cooperation Expanded
India and the UAE also expanded cooperation in advanced technology and artificial intelligence infrastructure.
Misri announced that a term sheet was signed for establishing an 8-exaflop supercomputing facility in India, which will support the country’s growing AI mission and digital infrastructure ambitions.
In addition, the two countries operationalised the virtual trade corridor known as METRI between Indian and UAE ports to improve maritime trade efficiency and supply chain resilience.
PM Modi Raises Strait of Hormuz Security Concerns
The regional security situation and disruptions in maritime transit routes also figured prominently during the discussions.
Misri said Prime Minister Modi conveyed India’s strongest condemnation of recent attacks in the UAE and expressed solidarity with the UAE leadership and people.
The Prime Minister also stressed the importance of ensuring uninterrupted transit through the Strait of Hormuz and called for an end to attacks on commercial shipping and mariners in the region.
PM Modi also extended an invitation to UAE President Sheikh Mohamed bin Zayed Al Nahyan to visit India.
