Calling the UAE an "important partner in India's energy security," the MEA said both sides agreed to pursue "new initiatives for a comprehensive energy partnership" covering crude oil, LNG and LPG supplies.
In a statement, the MEA said the two leaders “welcomed the conclusion of a Strategic Collaboration Agreement between Indian Strategic Petroleum Reserves Limited and Abu Dhabi National Oil Company to enhance UAE’s participation in India’s Strategic Petroleum Reserves to 30 million barrels.”
India and the United Arab Emirates have agreed to significantly deepen their energy partnership, with the UAE set to store up to 30 million barrels of crude oil in India’s Strategic Petroleum Reserve, the Ministry of External Affairs said on Friday after Prime Minister Narendra Modi’s short visit to Abu Dhabi.
The agreement emerged from wide-ranging talks between Prime Minister Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan, with both leaders also stressing the importance of “safe transit passage and unimpeded navigation through the Strait of Hormuz” amid rising regional tensions.
Prime Minister Narendra Modi on Saturday laid out four big aspirations for India during his two-day visit to the Netherlands, saying the country's ambitions are no longer confined to its borders.
Addressing the Indian diaspora at an event in The Hague, Modi said India wants
- to host the Olympics,
become a global manufacturing and green energy hub, and
serve as an engine for the world's economic growth.
"Aspirations are unlimited in India and efforts are also becoming limitless," he said, pitching India's growth story to the gathering.
Modi said India is taking steps towards becoming a major manufacturing hub, with the country's youth driving a modern technology and start-up ecosystem.
"Thanks to India's youth, who are doing remarkable work in AI, defence, and the space sector, our country is now the third-largest start-up ecosystem in the world," he said.
Turning to the AI revolution, Modi pitched India as a hub for semiconductor manufacturing and recalled what he described as the "most successful and biggest" AI Summit held in India earlier this year.
He said work on 12 semiconductor plants is currently underway, with production already begun at two of them.
"In other words, now even chips will be 'Designed in India' and 'Made in India'," he said.
Modi also highlighted India's mobile phone manufacturing revolution, reiterating the country's position as the second-largest mobile phone manufacturer in the world. "A decade ago, we imported mobile phones. This has become another identity of today's India, which is an innovation power," he said.
'GREEN HUB, GROWTH ENGINE'
Modi also highlighted India's infrastructural growth under his tenure, with a focus on green energy. "The solar parks being built in India are among the largest in the world," he said, while adding that one of the aspirations of India is to become a global green power hub.
As per the government, solar energy installed capacity has increased 53.28 times since PM Modi took over in 2014 – from 2.82 GW in March 2014 to 150.26 GW in March 2026.
No comments:
Post a Comment