India, UAE sign pacts on LNG, space; eye more data centres; set $200-bn trade target

India and the United Arab Emirates on Monday, January 19, signed a series of agreements and outlined new areas of cooperation during the visit of UAE President Sheikh Mohamed bin Zayed Al Nahyan, Foreign Secretary Vikram Misri said while briefing the media.

The two countries signed a letter of intent on collaboration in space infrastructure and joint missions, and another letter of intent for UAE participation in the development of a special investment region in Dholera, Gujarat.

India and the UAE

also signed a long-term agreement for the supply of 0.5 million tonnes of liquefied natural gas per annum. The UAE is currently the second-largest supplier of LNG to India.

An agreement on food safety was signed to encourage food and agricultural exports from India. The two sides also agreed to explore cooperation in advanced nuclear technologies, including large nuclear reactors and small reactors.

Also Read: PM Modi receives UAE President Mohamed bin Zayed on brief India visit

The UAE will examine investments to expand data centre capacity in India, and both sides will consider setting up a data embassy under mutually recognised sovereignty agreements.

Also Read: UAE President Sheikh Mohamed bin Zayed to visit India on January 19 to boost strategic ties

India and the UAE also agreed to work towards doubling bilateral trade from $100 billion to $200 billion by 2032.