During his first official visit to India, Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, signed several memoranda of understandings (MOUs) focusing primarily on enhancing energy co-operation. These included an agreement between Emirates Nuclear Energy Company (ENEC) and Nuclear Power Corperation of India Limited (NPCIL) for the operation and maintenance of the Barakah NPP in the UAE.
The other agreements were; for long-term LNG supply between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited; between ADNOC and the India Strategic Petroleum Reserve Limited; a Production Concession Agreement for Abu Dhabi Onshore Block 1 between Urja Bharat and ADNOC; and between the Government of Gujarat and Abu Dhabi Developmental Holding Company on food parks development.
Indian External Affairs Ministry spokesperson Randhir Jaiswal said Prime Minister Narendra Modi and Crown Prince Al Nahyan discussed the multifaceted ties between India and the UAE with the aim of expanding a “comprehensive strategic partnership in new and emerging areas.” According to the Ministry, “they also underscored the need to explore new areas of untapped potential, particularly in nuclear energy, critical minerals, green hydrogen, artificial intelligence and cutting-edge technologies”.
According to official data, the two countries are among each other’s top trading partners with bilateral trade estimated at around $85bn in 2022-23. The UAE is also among the top four investors in India in terms of foreign direct investment. Some 3.5m Indians live in the UAE, which also joined BRICS as a member in January with India’s support.
