New Delhi

Narendra Modi and Sheikh Khaled bin Mohamed bin Zayed Al Nahyan on Thursday praised the growing two-way investment ties between India and the UAE, encouraging continued participation of Emirati sovereign wealth funds in India’s growth story.

The two leaders met on the sidelines of the India AI Impact Summit in New Delhi, where they reviewed the rapid expansion of bilateral cooperation across sectors such as defence and security, trade and investment, education, culture, and advanced technologies.

According to a statement from the Prime Minister’s Office, both sides appreciated the steady rise in cross-border investments and urged UAE sovereign wealth funds to maintain and expand their engagement with the Indian economy. They also noted the potential role of L’ Imad, described as the UAE’s newest sovereign fund, in further strengthening economic collaboration.

Focus on Strategic Sectors

During the meeting, the leaders discussed opportunities for joint initiatives in key areas including space, nuclear energy, innovation, and emerging technologies. They reaffirmed the importance of the India-UAE Comprehensive Strategic Partnership, which rests on robust political ties and strong cooperation in commerce, energy, and people-to-people exchanges.

Marking four years since the signing of the Comprehensive Economic Partnership Agreement (CEPA), both leaders observed that bilateral trade and investment have recorded notable growth since the pact came into force.

Key Agreements and Initiatives

Several initiatives were welcomed during the talks:

Health Cooperation: Finalisation of a memorandum of understanding between India’s Ministry of Health and Family Welfare and the UAE’s Ministry of Health and Prevention to deepen collaboration in healthcare. The agreement covers professional exchanges, institutional partnerships, research, digital health, pharmaceuticals, and the adoption of modern medical technologies.

Supercomputing Collaboration: A term sheet was concluded between the Centre for Development of Advanced Computing (C-DAC) and UAE-based entities G42 and Mohamed Bin Zayed University of Artificial Intelligence. The agreement initiates deployment of a supercomputer cluster in India, as earlier announced by Prime Minister Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan during his January 19 visit to India. The facility will operate under the AI India Mission and be accessible to public and private sector researchers and enterprises.

Financial Services Expansion: The Abu Dhabi National Insurance Company will establish an office at GIFT City in Gujarat, further strengthening financial sector linkages.

The Crown Prince congratulated Prime Minister Modi on the successful organisation of the AI Impact Summit. Modi, in turn, welcomed Switzerland’s initiative to host the next edition of the AI Summit, followed by the UAE.

The meeting reaffirmed the pattern of regular high-level exchanges between India and the UAE and underscored a shared commitment to positioning artificial intelligence and advanced technologies as central pillars of the bilateral partnership.

READ MORE: Ramzan and Lent begin the same day signaling unity of religions

The AI Impact Summit, being held from February 16 to 20 at Bharat Mandapam in New Delhi, has drawn participation from heads of state, global AI leaders, academicians, technology executives, and philanthropists from across the world.