New Delhi [India], January 19 (ANI): India and the United Arab Emirates on Monday announced a dozen outcomes at the conclusion of UAE President Sheikh Mohamed bin Zayed Al Nahyan’s visit, including a roadmap to more than double bilateral trade to over USD 200 billion by 2032 and expand cooperation in advanced nuclear technologies, such as large nuclear reactors and small modular reactors. Prime Minister Narendra Modi also invited UAE sovereign wealth funds to consider joining the second Infrastructure Fund, scheduled for launch in 2026.
The engagement, which lasted just over three hours, was described by the Indian side as a “short but extremely substantive visit.” The UAE President was personally received at the Delhi airport by Prime Minister Modi, a gesture underscoring the warm and close relationship between the two leaders.
Among the key outcomes was a long-term agreement under which Hindustan Petroleum Corporation Limited (HPCL) will purchase 0.5 MMPTA of liquefied natural gas from Abu Dhabi National Oil Company Gas (ADNOC Gas) for a 10-year period beginning in 2028.
Investment cooperation was strengthened through a Letter of Intent signed between the Government of Gujarat and the UAE Ministry of Investment for the development of the Dholera Special Investment Region in Gujarat. The partnership includes strategic infrastructure projects such as an international airport, a pilot training school, a maintenance, repair, and overhaul (MRO) facility, a greenfield airport, a smart urban township, as well as railway connectivity and energy infrastructure initiatives.
UAE companies First Abu Dhabi Bank and DP World will establish offices and operations in Gujarat’s GIFT City. First Abu Dhabi Bank will support trade and investment linkages, while DP World will operate from GIFT City, including leasing ships for its global operations.
Beyond trade and investment, the two countries signed agreements to deepen cooperation in space, defense, and food safety. UAE’s G42 company will assist in establishing a supercomputing cluster in India. Both nations will also explore creating digital data embassies and a ‘House of India’ in Abu Dhabi.
The plan to expand trade to over USD 200 billion by 2032 will focus on connecting micro, small, and medium enterprises and opening new markets through initiatives such as Bharat Mart, the Virtual Trade Corridor, and Bharat-Africa Setu.
This marked Al Nahyan’s fifth visit to India in the last decade and his third official visit as UAE President. Foreign Secretary Vikram Misri highlighted the high-powered UAE delegation accompanying the President.
India and the UAE signed the Comprehensive Economic Partnership Agreement (CEPA) in 2022 and noted rapid growth in bilateral trade, which reached USD 100 billion in FY25. “Buoyed by the enthusiasm of the business communities on both sides, they decided to double bilateral trade to target USD 200 billion by 2032,” the joint statement said.
In the context of India’s Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) law, the two sides agreed to explore cooperation in advanced nuclear technologies, including large nuclear reactors and small modular reactors, covering reactor systems, nuclear power plant operations and maintenance, and nuclear safety.
The leaders also tasked their teams with interlinking national payment platforms to enable efficient, fast, and cost-effective cross-border payments.
About The Author
