$5 Billion UAE Investments Seal Major India Deals During Modi Trip

In a landmark moment for bilateral ties, Prime Minister Narendra Modi’s UAE visit yielded a treasure trove of agreements on Friday, headlined by a massive $5 billion infusion from the UAE into Indian banking, capital markets, and infrastructure giants like RBL Bank and Samman Capital. Defense cooperation got a strategic upgrade, while energy pacts ensure steady LPG supplies and bolster India’s petroleum reserves. Gujarat’s Vadinar is set to host a cutting-edge ship repair facility, a move that could transform India’s maritime capabilities. From Abu Dhabi, PM Modi addressed leaders, vowing India’s steadfast alliance: “We stand together with the UAE through thick and thin, ready to aid peace efforts every step of the way.” The Strait of Hormuz must remain open and unrestricted, he stressed, calling for adherence to global norms. Thanking President MBZ profusely, Modi pointed to the qualitative leap in their partnership since January’s reciprocal visits. “In a short span, we’ve made giant strides across domains, amplifying the value of our collaboration amid world events,” he said. With West Asian strife impacting global markets, Modi pushed for diplomatic resolutions over confrontation. His day began with a grand reception in the UAE capital, followed by intensive talks. Spanning May 15-20, this multi-country itinerary targets key areas like energy security, tech innovation, defense synergies, sustainable transitions, and booming trade volumes. These pacts not only inject vital capital but also weave tighter economic and security fabrics between the two powers. As India eyes its development goals, UAE’s backing emerges as a pivotal force multiplier.