India-UAE Summit: Cooperation in education, renewable energy, dedicated investment zones announced

The virtual summit was hosted by Prime Minister Narendra Modi with Deputy Supreme Commander of the United Arab Emirates (UAE) Armed Forces and Crown Prince of Abu Dhabi, Sheikh Mohamed bin Zayed al Nahyan.

Both nations released the Joint Vision Statement establishing a roadmap covering areas of new trade, investment and innovation dynamic in diverse sectors, including economy, energy, climate action, emerging technologies, skills and education, food security, healthcare and defence and security. 

UAE and India also committed to hasten work on a dedicated investment zone for UAE companies in India a well as joint ventures to set up a food corridor and a dedicated India Mart in Jebel Ali Free Zone, in Dubai.

The countries will also push for investment opportunities for Indian companies in setting up specialized industrial advanced technology zones in Abu Dhabi, especially in logistics & services, pharmaceuticals, medical devices, agriculture, agri-tech, steel, and aluminum.

The bilateral cooperation in expanding e-businesses and e-payment solutions is a first between the two countries.

They have also agreed to promote start ups frm both countries.

Both sides are also strengthening their cooperation in new areas of renewable energy like green hydrogen, climate action, start-ups, skilling, fintech and healthtech.

Further, India and UAE have also decided to collaborate in research, production, and development of reliable supply chains for vaccines. This will be followed by greater investments by UAE entities in in India as well as partnering in offering health care in underprivileged countries.

"Both nations agreed to expand cooperation through enhanced bilateral food & agriculture trade and, promote and strengthen the infrastructure and dedicated logistic services connecting farms to ports to final destinations in the UAE," the statement said.

India will also set up an Indian Institute of Technology will be set up in the UAE. The countries also decided to cooperate in skill development 'so as to align with the market needs and address the changing needs for the future of work'.

Their was also agreement on increasing maritime cooperation contributing to the maintenance of peace and security in the region.

They reaffirmed joint commitment to the fight against extremism and terrorism, including cross-border terrorism, in all forms, at both regional and international levels.