According to official data, India and UAE nations are among each other’s top trading counterparts, with bilateral trade of approximately $85 billion in 2022-23.
On September 9, 2024, India and UAE signed four significant agreements aimed at expanding energy cooperation.
These agreements were finalized during talks between Indian Prime Minister Narendra Modi and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan. The discussions primarily focused on enhancing the overall strategic partnership between the two nations.
Key Agreements in Energy and Nuclear Cooperation
One of the major highlights of the agreements was a long-term Liquefied Natural Gas (LNG) supply contract between the Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Ltd.
Another crucial agreement was signed between ADNOC and India Strategic Petroleum Reserve Ltd (ISPRL), focusing on bolstering India’s energy security.
In addition to the energy sector, the Emirates Nuclear Energy Company (ENEC) and India’s Nuclear Power Corporation (NPCIL) signed a Memorandum of Understanding (MoU) for the operation and maintenance of the Barakah Nuclear Power Plant in the UAE.
New Production Concession in Abu Dhabi
A production concession agreement for Abu Dhabi’s onshore block-one was also signed between Urja Bharat, an Indian energy company, and ADNOC, further strengthening energy collaboration.
This agreement is expected to enhance India’s access to energy resources in the region.
Food Parks and Economic Cooperation
Apart from energy agreements, a separate pact was signed between the Gujarat government and Abu Dhabi Developmental Holding Company PJSC to establish food parks in India, demonstrating a commitment to expanding economic cooperation beyond energy.
Strengthening Strategic Ties
The Ministry of External Affairs (MEA) highlighted that the discussions between Prime Minister Modi and Crown Prince Al Nahyan aimed at broadening the comprehensive strategic partnership, focusing on emerging sectors such as energy, nuclear power, and food security.
The talks underscored the growing importance of the India-UAE relationship on a global scale.
Tribute to Mahatma Gandhi
Crown Prince Sheikh Khaled Al Nahyan, who arrived in New Delhi for his first official visit to India as Crown Prince, was accompanied by UAE ministers and a high-level business delegation.
After the bilateral talks, the Crown Prince paid tribute to Mahatma Gandhi at Rajghat, emphasizing the deep historical ties between India and the UAE.
These agreements mark a significant milestone in the expanding partnership between India and the UAE, particularly in strategic sectors like energy, nuclear cooperation, and economic development.
