India, UAE may sign 16 pacts including on aerospace, railways

India and the United Arab Emirates (UAE) are expected to sign as many as 16 agreements spanning civilian nuclear and renewable energy, aerospace, information technology to transportation and railways during the visit of Sheikh Mohamed bin Zayed Al Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the armed forces of the UAE.

On the security side, India and the UAE agreed to regularize security dialogue between their national security advisers, strengthen maritime security in the Arabian Gulf and Indian Ocean region, and reinforce defence ties through regular exercises of naval, air, land and special forces during the Modi visit.

On the economic side, India said it would “encourage the investment institutions of the UAE to raise their investments in India, including through the establishment of UAE-India Infrastructure Investment Fund, with the aim of reaching a target of $75 billion to support investment in India’s plans for rapid expansion of next generation infrastructure, especially in railways, ports, roads, airports and industrial corridors and parks”, according to a joint statement released at the end of Modi’s visit.

-More at LiveMint


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