PM Modi UAE Visit: Prime Minister Narendra Modi is currently on a tour of five countries. During this period, his first stop on Friday was UAE (United Arab Emirates). Here he met with UAE President Sheikh Mohammed bin Zayed ul Nahyan. Not only the meeting but during this he also signed an agreement (MOU). This visit of PM Modi is considered very important amidst the ongoing war between US and Iran and rising inflation.

Agreement reached for petroleum reserves
During his visit to UAE, Prime Minister Narendra Modi has signed an MoU with the President of UAE. In which a deal has also been made regarding strategic petroleum reserves. An agreement has been signed between PM Modi and the President of UAE regarding the supply of LPG. Apart from this, there is also an agreement between India and UAE for the repair of ships in Vadinar, Gujarat.

Also read: Petrol Diesel Price: How much has the price of petrol and diesel increased from 2014 till now? When and how much did prices increase?

Huge investment will come to India
Not only this, during this period PM Modi has also made arrangements for huge investment in India. During this meeting itself, UAE has announced that it will invest 5 billion dollars in India. This money will be invested in infrastructure, RBL Bank and Samman Capital. During this, PM Modi has also said that he will stand with UAE in every situation.

During the talks going on in Abu Dhabi, PM Modi said, ‘India stands shoulder to shoulder with the UAE in every situation and will continue to stand so in future also. India will provide all possible support for the restoration of peace and stability. Further, regarding the Strait of Hormuz, he said that it is important for it to remain independent and open and international laws should be respected.

Also read: From spices, tea leaves to rice… everything has become expensive, prices will increase further, see the latest rate list of goods.