India and the United Arab Emirates (UAE) on Saturday explored ways to shore up trade and investment ties with Prime Minister Narendra Modi and Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed Al Nahyan reviewing the trajectory of bilateral relations.
The two leaders met on the margins of the Brics summit.
The meeting came against the backdrop of sudden spike in tensions amid the West Asia conflict.
“Discussed taking our Strategic Partnership forward across defence, AI, space, critical minerals, energy, food security and connectivity,” Modi said in a social media post.
“At a time of uncertainty in West Asia, a strong India-UAE is a symbol of stability, prosperity and peace,” he added.
In the trade domain, the two sides discussed ramping up investments by Emirati entities, including by the new sovereign fund L’Imad.
The two leaders acknowledged the role that L’Imad, the UAE’s newest sovereign investment fund, can play in deepening the bilateral partnership, the Ministry of External Affairs (MEA) said.
They also noted the announcement by UAE’s International Holding Company (IHC) to invest $11.5 billion in an integrated greenfield aluminium project in Odisha, it said.
“The project is expected to position Odisha as a global aluminium manufacturing hub,” the MEA said.
International Resources Holding, an IHC group company, and Adani Enterprises Limited signed the initial pact with Odisha state government in July for the aluminium project.
The two leaders also discussed opportunities to enhance cooperation between the two countries in strategic and emerging areas, including defence, space, nuclear energy, technology and innovation, the MEA said.
