New Delhi, May 17 (IANS) Prime Minister Narendra Modi’s visit to the UAE amid the geopolitical and economic uncertainty in the wake of the West Asia conflict has sent a strong signal of stability and growth opportunities for businesses operating across the India-UAE corridor, according to a report in Dubai-headquartered Gulf News.
The report cites Nikai Group chairman Paras Shahdadpuri as saying, “For the business community, this continued engagement between both nations sends a very positive message. It reinforces a shared vision for growth, innovation, and long-term collaboration across sectors such as trade, infrastructure, energy, and technology. The relationship between India and the UAE continues to deepen, creating meaningful opportunities for businesses, investors, and communities in both countries.”
Zubin Karkaria, founder and CEO of VFS Global, said the visit highlights the strength of the India-UAE relationship during a period of changing global alignments. The agreements announced across defence cooperation, energy security and infrastructure development show how the relationship is expanding into broader strategic areas, he added.
“At a time of shifting geopolitical alignments and economic uncertainty, the agreements announced across defence cooperation, energy security and infrastructure development highlight how the partnership is evolving into a key pillar of regional and global stability,” he said.
The report also quotes Azad Moopen, founder chairman of Aster DM Healthcare, as stating that PM Modi’s visit could open up further opportunities in healthcare collaboration and talent exchange across the Gulf region.
According to the report, Dubai-based Al Maya expects the agreements signed during PM Modi’s visit to lead to further strengthening of commercial ties between India and the UAE.
“For Al Maya Group, a proud part of this bilateral story for over five decades, these agreements inspire us to contribute even more meaningfully to this extraordinary relationship. PM Modi’s visit powerfully reaffirms the strength and depth of the India-UAE partnership,” said Kamal Vachani, Deputy CEO and Group Director of Al Maya Group.
Prime Minister Narendra Modi and UAE President Sheikh Mohammed bin Zayed Al Nahyan on Friday agreed to promote new initiatives for a comprehensive energy partnership. In this context, they welcomed the conclusion of a Strategic Collaboration Agreement between Indian Strategic Petroleum Reserves Limited and Abu Dhabi National Oil Company to enhance the UAE’s participation in India’s Strategic Petroleum Reserves to 30 million barrels and work together to set up strategic gas reserves in India.
An agreement for a USD 5 billion investment into India by UAE entities was also announced. This includes investment of USD 3 billion by the Emirates New Development Bank (ENDB) in the RBL Bank of India, USD 1 billion by the Abu Dhabi Investment Authority (ADIA) with the National Infrastructure & Investment Fund of India (NIIF) in priority infrastructure projects in India, and USD 1 billion by the International Holding Company in Sammaan Capital in India.
–IANS
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