India, UAE to deepen cooperation in emerging areas, boost investments

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India and the UAE on Saturday reiterated the importance of their Comprehensive Strategic Partnership and discussed opportunities to deepen cooperation in emerging areas, including defence, space, nuclear energy, technology and innovation.

Prime Minister Narendra Modi and Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan met on the sidelines of the 18th BRICS Summit here and agreed to continue working closely through the grouping to advance shared interests and priorities and further strengthen bilateral cooperation.

The leaders reviewed the progress made in bilateral ties across a wide range of sectors, according to an official statement.

They welcomed the announcement by the UAE’s International Holding Company to invest $11.5 billion in developing an integrated greenfield aluminium project in Odisha, which is set to be India’s largest integrated aluminium investment. The project is expected to position Odisha as a global aluminium manufacturing hub.

The leaders also acknowledged the important role that sovereign investment platform L’Imad could play in further deepening the India-UAE partnership for mutual benefit.

“The visit reaffirmed the tradition of regular leadership-level engagement and the generational continuity that underpins the enduring relationship between India and the UAE,” the statement said.

Sheikh Khaled arrived in New Delhi on Friday to attend the 18th BRICS Summit being hosted by India under its chairship.

BRICS comprises Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the UAE. Its partner countries are Belarus, Cuba, Bolivia, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam.

The Abu Dhabi Crown Prince’s visit comes after PM Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan met on the sidelines of the G7 Summit in Evian, France, on June 16.

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