India, UAE sign defence, energy pacts; Abu Dhabi commits $5 billion investment

India and the United Arab Emirates on Friday signed a series of agreements in defence and energy as Prime Minister Narendra Modi held wide-ranging talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi.

The two sides signed an agreement on a framework for a Strategic Defence Partnership, a memorandum of understanding on Strategic Petroleum Reserves, an agreement on supplies of liquefied petroleum gas (LPG), and an MoU for setting up a ship repair cluster at Vadinar in Gujarat.

Abu Dhabi also announced $5 billion in investments in Indian infrastructure, private lender RBL Bank and housing finance company Sammaan Capital.

The agreements and investment decisions were announced after Prime Minister Modi and Sheikh Mohamed held delegation-level talks covering energy cooperation, investments, supply chains and regional developments.

PM Modi thanked the UAE President for personally receiving him at the airport and described the Gulf nation as his “second home”.

“I thank my brother HH Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, for the special gesture of receiving me at Abu Dhabi airport,” Modi said in a post on X.

During the talks, Modi strongly condemned the recent attacks on the UAE and said targeting the country was “not acceptable in any form”.

He also thanked the UAE leadership for the care extended to the more than 4.5 million-strong Indian community living in the country.

“You considered them as members of your own family,” Modi said.

The prime minister said the escort provided by UAE Air Force fighter jets to his aircraft was an honour for the people of India.

Modi arrived in Abu Dhabi earlier in the day on the first leg of a five-nation tour that will also take him to the Netherlands, Sweden, Norway and Italy between May 15 and 20.

After the UAE, Modi will visit the Netherlands, where he is scheduled to meet Prime Minister Rob Jetten and King Willem-Alexander.

He will then travel to Sweden and Norway for bilateral meetings and the third India-Nordic Summit in Oslo, before concluding his trip in Italy for talks with Prime Minister Giorgia Meloni and President Sergio Mattarella.

India said the six-day trip would help deepen trade and investment ties with Europe following the conclusion of the India-European Union free trade agreement.