ABU DHABI: Prime Minister Narendra Modi’s visit to the United Arab Emirates (UAE) on Friday resulted in major agreements and investment announcements across defence, energy, infrastructure and banking sectors.
According to the announced outcomes of the visit, India and the UAE signed an Agreement on Framework for the Strategic Defence Partnership, further strengthening bilateral strategic and security cooperation.
The two countries also signed a Memorandum of Understanding on Strategic Petroleum Reserves and an agreement on supplies of Liquefied Petroleum Gas (LPG), boosting cooperation in the energy sector.
In the maritime sector, both sides signed an MoU on setting up a Ship Repair Cluster at Vadinar.
In a major investment announcement, investments worth USD 5 billion were announced in Indian infrastructure as well as in RBL Bank and Samman Capital.
Prime Minister Narendra Modi also held delegation-level talks with the UAE President Sheikh Mohamed bin Zayed Al Nahyan. On his arrival, he was accorded a guard of honour as he landed in Abu Dhabi. (ANI)
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