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India says UAE to invest $5 billion in different sectors
UAE and India sign agreements covering defence, energy, technology, shipping and other sectors during prime minister Narendra Modi's visit to the Emirates
- PUBLISHED: Fri 15 May 2026, 1:55 PM UPDATED: Sun 17 May 2026, 9:42 PM
The UAE and India on Friday signed a series of agreements during Indian Prime Minister Narendra Modi’s visit, spanning defence, energy, shipping, and infrastructure.
The UAE also committed $5 billion in investments in India, aimed at creating more jobs and reinforcing the UAE’s long-standing commitment to India’s development and growth story, the Indian Embassy in the UAE said on the social media platform X.
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The UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met in Abu Dhabi on Friday, where they discussed various avenues of cooperation and opportunities to enhance them within the framework of the "Comprehensive Strategic Partnership" and the "Comprehensive Economic Partnership Agreement."
The meeting was attended by Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi; Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense; Sheikh Hamdan bin Mohammed bin Zayed Al Nahyan, Deputy Chief of the Presidential Court for Special Affairs, Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Advisor to the President of the State, and a number of ministers and officials. The delegation accompanying the Prime Minister of India, which includes a number of ministers and officials, was also present.
ENBD buys 60% of RBL Bank
According to UAE news agency Wam, Dubai’s largest bank Emirates NBD also signed an agreemen to acquire 60 per cent stake in India’s RBL Bank for Dh11.02 billion ($11 billion).
On October 18, Emirates NBD and RBL Bank’s boards approved entering into definitive agreements for ENBD to acquire controlling stake in the Indian bank through a primary infusion of approximately $3 billion.
In addition, an agreement was signed to invest Dh3.67 billion by the Abu Dhabi Investment Authority (ADIA) in the National Investment and Infrastructure Fund of India (NIIF).
Another investment agreement was signed between International Holding Company (IHC) of Dh3.67 billion to acquire a stake in India’s Samman Capital.
Strategic deals
An agreement was signed between the Indian Strategic Petroleum Reserves Limited (ISPRL) and the Abu Dhabi National Oil Company (ADNOC) to strengthen energy security and expand India’s strategic petroleum reserves. The agreement also includes potential collaboration in liquefied natural gas (LNG) and liquefied petroleum gas (LPG) storage facilities in India.
A separate agreement was signed on LPG cooperation to strengthen long-term supply security and support economic stability, while deepening the strategic energy partnership between the two countries.
On Friday, both sides agreed to a framework for a strategic defence partnership aimed at boosting industrial collaboration, accelerating innovation, and facilitating technology sharing to enhance national and regional security.
The two countries also agreed to establish a ship repair cluster at Vadinar, which is expected to strengthen shipping, port, and coastal infrastructure in India.
To enhance the capabilities of India’s maritime workforce, the UAE and India also agreed on a skills development framework for the ship repair sector.
In another major development, an agreement was signed to establish eight exaflop-scale supercomputer clusters through a partnership between India’s Centre for Development of Advanced Computing and the UAE’s G42.
