India, UAE set to sign 16 pacts to spur investment

Tribune News Service

New Delhi, February 10

A slew of pacts across nuclear energy, railways, IT aerospace and oil is on the anvil during the three-day visit of Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan to India.

The pacts, stated to be 16 in number, aim to boost investments from the United Arab Emirates, a country with which New Delhi has a comprehensive strategic partnership.

The UAE is estimated to have substantial wealth fund to the tune of $800 billion and the country is exploring opportunities to invest in New Delhi’s ambitious expansion plans in energy and infrastructure, especially ports, railways and roads.

The Crown Prince’s visit also assumes significance since he is also the Deputy Supreme Commander of the Armed Forces and the country is working with other nations to contain threat from the Islamic State (IS).

Strengthening the existing cooperation in information sharing and counter-terrorism will be another focus area in view of the rising threat of IS. The UAE has deported 12 Indians with suspected links to the terror group.

“The security cooperation between the two countries has been exemplary. There is concrete meeting of minds on the issue,” said Anil Wadhwa, Secretary (East) in the Ministry of External Affairs.

President Pranab Mukherjee is schedule to host a private lunch for Prince Sheikh Mohammed, while Prime Minister Narendra Modi will have a working dinner with the visiting dignitary.

“The visit takes place after we have decided to elevate our relationship to a comprehensive strategic partnership during the Prime Minister’s visit to the UAE in August last year and this will provide an opportunity to have discussions to consolidate the domains of existing partnership,” Wadhwa said. The Crown Prince travels to Mumbai on Friday.