- Modi hosts UAE President, signing agreements to boost trade and energy partnership, aiming for $200 billion.
- The LNG deal strengthens India’s energy security and supports its transition to cleaner energy sources.
- Both leaders emphasize enhancing economic cooperation in infrastructure, technology, and renewable energy for mutual growth.
The Indian Prime Minister, Narendra Modi, recently welcomed the President of the United Arab Emirates (UAE), Sheikh Mohamed bin Zayed Al Nahyan, in a major development in the relationship between the two countries.
This ended with a number of agreements being signed that will help in the development of trade and oil partnership agreements aimed at raising the total trade between the countries to $200 billion.
One of the major takeaways during the trip was the signing agreement on Liquefied Natural Gas (LNG), symbolizing the increasing strategic partnership between the UAE and Indian governments on the matter of energy.
This signing is expected to strengthen the latter’s energy security by offering it a constant source of natural gas. This is very important in light of the fact that natural gas is a crucial component within the Indian energy mix. The agreement will also help the country achieve cleaner sources of fuel.
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In these talks, both leaders were committed to further promoting economic cooperation, and this time around, there is emphasis on boosting trade and investment and working together in areas such as infrastructure development, technological innovation, and renewable energy sources.
Even now, the UAE is one of India’s biggest trading partners in the Gulf region, and these new agreements are looking to take this partnership to a new level.
In addition, Prime Minister Modi and UAE President Sheikh Mohamed discussed other regional and international matters, including the need for cooperation to counter global challenges like climate change, security, and economic development.
This state visit and its aftermath have been evidence of the further enhanced relationship between India and UAE, aiming to establish a long-term partnership for their mutual benefit.