In a pivotal move to fortify economic and tech bonds, the UAE and India inked a MoU, targeting seven critical sectors to drive sustainable industrial growth
A landmark agreement between India and the UAE is set to boost their partnership with significant investments, tech transfers and cutting-edge tech deployment. This bilateral deal was sealed during the 11th UAE-India High-Level Joint Task Force on Investments meeting.
The MoU aligns with the UAE-India Comprehensive Economic Partnership Agreement (CEPA), aiming to enhance trade and logistics ties between the nations. Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and Piyush Goyal, India’s Minister of Commerce and Industry, presided over the signing ceremony, marking a milestone in bilateral relations.
The MoU covers seven key areas:
1. Supply Chain and Industrial Growth: UAE and India will identify supply opportunities and share best practices, spanning energy, land, technology and labor incentives.
2. Energy Advancements: Both nations commit to advancing energy storage tech, smart grid deployment, IoT and R&D in renewable energy and efficiency.
3. Healthcare Innovation: Collaboration in pharmaceuticals, biotech, and health R&D will drive healthcare innovations.
4. Space Exploration: UAE and India aim to boost their space industries through satellite development and space exploration.
5. Artificial Intelligence (AI): Both countries will deploy AI in various sectors, prioritising machine learning and data analytics.
6. Fourth Industrial Revolution (4IR): Collaboration on 4IR tech includes real-time data processing, autonomous robotics, and additive manufacturing.
7. Standardisation and Certification: Efforts focus on standardisation, metrology, conformity assessment, accreditation, and Halal certification, harmonising standards and promoting mutual recognition.
Dr. Sultan Al Jaber expressed the UAE’s commitment to strengthening bilateral relations and fostering sustainable economic growth. Piyush Goyal highlighted the MoU’s potential in emerging technologies, emphasising space, healthcare, renewable energy, and AI.
Under the MoU, both nations will engage in industrial and academic collaborations, collaborative R&D, and the exchange of best practices related to science and tech policies, promoting economic growth, diversification, competitiveness, efficiency and sustainability.
Efforts in supply chain resilience will enable identifying opportunities for essential raw materials. Accelerating advancements in energy storage, smart grid, and renewable energy align with global sustainability goals.
Collaboration in healthcare and life sciences will drive pharmaceutical and biotech innovations. The MoU aims to elevate the space industry through commercial space development and R&D.
Cooperation in AI will enhance various sectors. The deployment of 4IR tech will boost efficiency and competitiveness. Finally, the UAE and India will work on standardisation, conformity assessment, accreditation and Halal certification, facilitating smoother trade and cooperation.