Nuclear Reactors, $200 Bn Trade Target, LNG Deal: Big Outcomes of PM Modi–UAE President Meet

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Delhi: Prime Minister Narendra Modi and United Arab Emirates (UAE) Sheikh Mohammad Bin Zayed Al Nahyan on Monday set a target of USD 200 billion annual trade by 2032, sealed an LNG deal, and also laid strategic defence partnership plans.The key decisions were taken during Sheikh Mohamed bin Zayed Nahyan’s very brief visit to India on January 19.The UAE President, who was in India barely for hours, was received byPrime Minister at the airport after which the two traveled in the same car to the next venue.

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What Are The Key Documents Signed Between India and UAE?

• Out of the five documents inked by the two sides, the most striking one was the letter of intent to establish a strategic defence partnership, a move that came four months after Pakistan and Saudi Arabia sealed a defence pact to strengthen their decades-long defence ties.
• Under the defence partnership, India and the UAE are eyeing defence industrial collaboration and cooperation in advanced technologies, cyberspace training, special operations, interoperability of their militaries, and counter-terrorism.
• Another pact was inked to provide for the purchase of 0.5 million metric tonnes of LNG (Liquefied Natural Gas) by Hindustan Petroleum Corporation Limited (HPCL) from Abu Dhabi National Oil Company Gas over a period of 10 years starting 2028. The UAE is India's second-largest supplier of LNG to India after Qatar.
• The two sides also decided to explore collaboration in advanced nuclear technologies, including the development of large nuclear reactors and small modular reactors, as well as cooperation in advanced reactor systems, nuclear power plant operations and maintenance, and nuclear safety.

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What MEA Said on UAE President Visit

Foreign Secretary Vikram Misri said that the UAE leader’s three-and-a-half-hour visit was a short but extremely substantive one amid increasing tensions in the Middle East and trade disruptions caused by Washington's policy on tariffs.Artificial Intelligence was identified as another priority area of cooperation, and it was decided to collaborate on setting up a supercomputing cluster in India with the UAE partnership, Misri said, adding that the Gulf nation will also look at investments for expanding data centre capacities in India.

India-US Set Target of USD 200 Billion Trade By 2032

The foreign secretary said the two sides also set a target of USD 200 billion in annual trade by 2032. In 2024-25, the volume of two-way trade between the two sides was USD 100 billion.To boost trade ties, Modi and Al Nahyan directed their teams to work towards interlinking the national payment platforms to enable efficient, fast, and cost-effective cross-border payments.ALSO READ | 'Don't Help Fuel Terror Infrastructure in Our Neighbourhood': Jaishankar's Tough Message to PolandThey also called for the expeditious implementation of key initiatives, such as the 'Bharat Mart', the 'Virtual Trade Corridor’, and the 'Bharat-Africa Setu’, to promote MSME products across the Middle East, West Asia, Africa, and the Eurasia region, according to a joint statement."A letter of intent was signed between the two sides to work towards concluding a framework agreement for a strategic defence partnership between India and the UAE," Misri said.

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India-US To Work Together in Space Infrastructure

The joint statement said the two leaders highlighted deep respect for each other's sovereignty and territorial integrity and the importance of strategic autonomy.It said Modi and Al Nahyan acknowledged steady and strong bilateral defence and security cooperation as a core pillar of the comprehensive strategic partnership.Another letter of intent was also signed for joint work in developing space infrastructure.Under this initiative, both sides will look to set up new launch complexes, satellite fabrication facilities, joint missions, space academy and training centres, the foreign secretary said.A separate document was inked to provide for the UAE's participation in the development of a special investment region in Gujarat's Dholera.This initiative will look at the establishment of an international airport, a pilot training school, an MRO (Maintenance, Repair and Overhaul) facility, a greenfield port, a smart urban township, as well as projects related to railway connectivity and energy infrastructure, Misri added.

UAE Likely To Invest in Gujarat’s GIFT City

Modi and Al Nahyan welcomed the establishment of DP World and First Abu Dhabi Bank branches in GIFT City, reinforcing its emergence as a leading international financial centre.Both sides also reaffirmed their strong commitment to enhancing UAE-India cooperation in food security, recognising its strategic importance in ensuring sustainable supply chains and long-term resilience, the joint statement said.The discussions between Modi and Al Nahyan focused on cooperation in several new and emerging areas, including new opportunities for civil nuclear cooperation in the light of the passage of the Shanti Act in India.An agreement on food safety was also signed. It will provide for cooperation in the food sector and encourage food products and other agricultural exports from India to the UAE.It will benefit the farmers of India and contribute to food security in the UAE, the foreign secretary said.Both sides also decided to collaborate on the establishment of a supercomputing cluster in India as well as data centres.The two leaders directed their teams to explore the possibility of establishing 'Digital Embassies' between the UAE and India, under mutually recognised sovereignty arrangements. This is a relatively new concept, Misri said.Modi and Al Nahyan reiterated their unequivocal condemnation of terrorism in all its forms, including cross-border terrorism, and emphasised that no country should provide safe haven to those who finance, plan, support, or commit terrorist acts.They agreed to continue cooperation within the framework of the Financial Action Task Force (FATF) to counter terror financing and strengthen anti-money laundering efforts, the joint statement said.The two leaders also reaffirmed their commitment towards the India-Middle East-Europe Corridor (IMEC), saying it would be of great strategic importance and would significantly enhance the flow of commerce and energy between India, the Middle East, and Europe.The foreign secretary said the situation in Yemen, Gaza, and Iran was discussed at the talks, but declined to elaborate on them."All of these issues were discussed between the leaders. I cannot get into the details at this stage, but yes, both leaders had the opportunity to share their views and opinions in detail on these issues," he said.The UAE president expressed support for the success of India's chairmanship of the BRICS grouping this year.With inputs from PTI