India on Wednesday sealed 14 agreements, including a comprehensive strategic partnership, with the United Arab Emirates (UAE).
The summit-level talks, however, fell short of clinching a major investment agreement for India, though the visiting Crown Prince Sheikh Mohammed bin Zayed Al Nahyan said the UAE would further intensify ties with India.
The Agreement on Comprehensive Strategic Partnership came four days after both sides held the first ever strategic dialogue. Soon after his arrival in Delhi on Tuesday, the Crown Prince had described the strategic agreement as a testimony to the age-old ties between the two sides.
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“I believe that the UAE, with its unique development experience and Islamic and Arab background, and India, with its inimitable and successful development experience and its unique model of coexistence, can work together to push for peace and stability in Asia and the Middle East. This makes me even more optimistic about the future of our relationship,” Sheikh bin Zayed said in his official statement.
Apart from the strategic partnership, agreements on defence industries, maritime transport, cybersecurity, shipping and transport were also signed.
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Talks still on
Prime Minister Narendra Modi urged the UAE to partner India in stabilising South Asia and fight security challenges. He welcomed greater investment from the country for India’s infrastructure sector. However, a major agreement on engaging the massive investment fund of the UAE for India’s infrastructure sector remained unattained. MEA officials had stated on Tuesday that they expected the agreement to be finalised during the talks. “UAE also has the largest sovereign wealth fund that we are looking for investments. There is an agreement that they will invest nearly $75 billion in India over the next couple of years. During the visit we are hoping that an MoU will be signed between their investment fund and NIIF (National Infrastructure Investment Fund) that we have created on our side which is at an advanced stage of discussions,” Secretary in charge of economic relations in the MEA, Amar Sinha, had announced on Tuesday.
However, an official source said talks were still on. “We hope to conclude the deal at an early date,” he told The Hindu . Sources said the UAE needed more time to study the documents on the structure and management of NIIF. Sheikh bin Zayed, who will be the chief guest at the Republic Day celebrations, visited the Lodhi Garden where he planted a sapling as a symbol of friendship with India. “UAE considers its relationship with India a priority and views India as a linchpin of stability and security in the Asian continent,” Sheih bin Zayed said on a social media platform. The Gulf state will also showcase its growing military clout at the Republic Day parade, where a marching contingent of its armed forces will participate in a show of solidarity with India.