Prime Minister Narendra Modi’s official visit to the United Arab Emirates on May 15, 2026, resulted in several major agreements and investment announcements aimed at strengthening bilateral cooperation in energy, defence, infrastructure, maritime development, and technology.
Prime Minister Narendra Modi and UAE President Mohammed bin Zayed Al Nahyan held wide-ranging discussions during the visit and reviewed the growing Comprehensive Strategic Partnership between India and the United Arab Emirates.
One of the major outcomes of the visit was the signing of a strategic collaboration agreement between Indian Strategic Petroleum Reserves Limited (ISPRL) and Abu Dhabi National Oil Company (ADNOC). The agreement aims to expand ADNOC’s participation in India’s Strategic Petroleum Reserves up to 30 million barrels. The collaboration includes crude oil storage facilities in Vishakhapatnam, Andhra Pradesh, and the development of reserve facilities in Chandikol, Odisha. Both countries will also explore crude oil storage in Fujairah, UAE, as part of India’s strategic reserves and work together on LNG and LPG storage projects in India.
Another important agreement was signed between Indian Oil Corporation Limited (IOCL) and ADNOC for long-term supplies of Liquified Petroleum Gas (LPG). The partnership will explore opportunities for LPG trade and long-term supply arrangements between ADNOC Gas Limited and IOCL.
India and the UAE also strengthened defence ties by signing a Framework for the Strategic Defence Partnership. The agreement focuses on defence manufacturing, advanced technology, innovation, military training, maritime security, cyber defence, secure communications, and information sharing.
In the maritime sector, Cochin Shipyard Limited (CSL) and Drydocks World (DDW) signed an MoU for setting up a Ship Repair Cluster at Vadinar under India’s Maritime Development Fund Scheme. The project will also include offshore fabrication facilities.
A separate tripartite agreement between CSL, DDW, and the Centre of Excellence in Maritime & Shipbuilding (CEMS) was signed to develop skilled manpower in the maritime sector. The initiative aims to train and employ maritime workers while positioning India as a global hub for shipbuilding and ship repair professionals.
The visit also marked progress in technology cooperation between the two countries. CDAC India and G-42 UAE signed a term sheet for establishing an 8 Exaflop Super Computing Cluster under India’s AI Mission. The project is expected to boost India’s capabilities in artificial intelligence and high-performance computing.
Apart from the agreements, the UAE announced major investments worth USD 5 billion in India. Abu Dhabi Investment Authority (ADIA) and the National Infrastructure & Investment Fund (NIIF) will explore investments of up to USD 1 billion in India’s infrastructure sector. Emirates NBD announced a USD 3 billion investment in RBL Bank of India, while International Holding Company will invest USD 1 billion in Sammaan Capital.
Source: PM India
