India-UAE ties: A roadmap for deeper cooperation

  • In a departure from protocol, Prime Minister Narendra Modi received Abu Dhabi’s Crown Prince Sheikh Mohamed bin Zayed Al Nahyan at the airport as he arrived in New Delhi for a three-day state visitIndia UAE
  • Hours after his arrival, Al Nahyan expressed his keenness to the strengthen strategic relationship between the two countries.
  • The Crown Prince, who is an influential leader in the UAE and is also the country’s Deputy Supreme Commander of the armed forces, had received PM Modi at the Abu Dhabi airport, along with his five brothers, during the PM’s visit last August
  • Hours before the Crown Prince’s arrival, India also announced its willingness to extend help to the UAE to achieve its Mars Mission in 2025.
  • Al Nahyan is accompanied by three of his brothers, one of whom is the Interior Minister
  • The delegation also includes several top ministers and over 100 business tycoons, along with CEOs of top companies
  • During the dialogue, the two sides are touch upon sectors from security to space, defence to nuclear energy. Over a dozen pacts are also expected to be signed
  • UAE has deported about a dozen Indians with suspected links to the terror group.
  • Officials said that joint production of defence equipment is another focus area, and under this initiative, UAE may make investments for manufacturing in India.

India to store oil for UAE

  • The United Arab Emirates’ national oil company – Abu Dhabi National Oil Company (ADNOC) – has in the first deal of its kind agreed to store crude oil in India’s maiden strategic storage and give two-third of the commodity to it for free.
  • India, which is 79 per cent dependent on imports to meet its crude oil needs, is building underground storage facilities at Visakhapatnam in Andhra Pradesh, and Mangalore and Padur in Karnataka to store about 5.33 million tonnes of crude oil to guard against global price shocks and supply disruptions.
  • Adnoc is keen on taking half of the 1.5 million tonnes Mangalore facility
  • It will stock 0.75 million tonnes or 6 million barrels of oil in one compartment of Mangalore facility. Of this, 0.5 million tonnes will belong to India and it can use it in emergencies. Adnoc will use the facility as a warehouse for trading its oil.
  • The 1.33 million tonnes Visakhapatnam storage and 2.5 million tonnes Padur stockpile together with the 1.5 million tonnes Mangalore storage will be enough to meet nation’s oil requirement of about 10 days.
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