Prime Minister Narendra Modi’s upcoming visit to the United Arab Emirates will prioritise strengthening India’s energy security and deepening strategic cooperation, the Ministry of External Affairs said on Tuesday, as escalating tensions in West Asia continue to disrupt global oil supply chains and shipping routes.
“Modi’s UAE visit priority is to strengthen energy supplies,” MEA spokesperson Randhir Jaiswal said while commenting on the Prime Minister’s trip to the Gulf nation.
Modi is scheduled to visit the UAE on May 15 as the first leg of a five-nation diplomatic tour that will also include stops in the Netherlands, Sweden, Norway and Italy.
According to the MEA, Modi will hold talks with UAE President Mohamed bin Zayed Al Nahyan in Abu Dhabi, where both leaders are expected to review bilateral ties with a strong focus on energy cooperation, regional security and broader geopolitical developments.
ALSO READ: PM Modi’s Five-Nation Tour Across Europe, Gulf This Week: What’s On Agenda?
The visit comes at a time when instability in West Asia and disruptions around the Strait of Hormuz have raised concerns over energy supplies to several countries, including India. Media reports said the evolving regional situation was one of the key reasons behind Modi’s decision to include the UAE in his itinerary at short notice.
The UAE has emerged as a crucial strategic partner for India, particularly in the energy and investment sectors. The MEA said the discussions would also focus on advancing the India-UAE Comprehensive Strategic Partnership, anchored in political trust, economic cooperation, cultural ties and strong people-to-people engagement.
The Gulf nation is currently India’s third-largest trading partner and the seventh-largest source of cumulative foreign investment over the past 25 years. Bilateral trade between the two countries has surged from nearly $180 million annually in the 1970s to about $84 billion in 2023-24.
For the period between April 2000 and September 2024, foreign direct investment inflows from the UAE stood at nearly $22 billion, accounting for around 3.1% of India’s total inward FDI. The UAE has also committed investments worth $75 billion in India’s infrastructure sector over time.
ALSO READ: Prepare For The Worst’: Uday Kotak Urges India To Brace for ‘Big Shock’ From US-Iran Conflict
The visit is also expected to address concerns linked to the large Indian diaspora in the UAE, which is home to nearly 4.7 million Indians, the largest ethnic community in the country, accounting for roughly 35% of the UAE’s population.
India has been closely monitoring the deteriorating security environment in West Asia following Iranian missile and drone attacks targeting the UAE since the outbreak of the regional conflict earlier this year.
Essential Business Intelligence,
Continuous LIVE TV,
Sharp Market Insights,
Practical Personal Finance Advice and
Latest Stories — On NDTV Profit.
Source link
[ad_3]