India and the United Arab Emirates (UAE) on Friday (15 May 2026) signed several important agreements related to petroleum reserves, long-term LPG supply, defense and shipping, with Abu Dhabi pledging a total investment of US $ 5 billion in India. Amidst the increasing conflict in West Asia, Prime Minister Narendra Modi held high-level talks with UAE President Sheikh Mohammed bin Zayed Al Nahyan.

Talks were held on these 6 agreements

According to an official statement, these six agreements also include a framework related to strategic defense partnership, which focuses on defense industrial cooperation, technology sharing, innovation and regional security cooperation. Under this, both the countries have agreed to explore possibilities of joint development of military equipment besides increasing cooperation in many other important areas.

UAE will deposit 30 million barrels of oil in India

According to the statement, Indian Strategic Petroleum Reserves Limited (the public sector company responsible for maintaining the country’s strategic petroleum reserves) has signed an agreement with Abu Dhabi National Oil Company for the purpose of ‘strategic cooperation’. According to the statement, this will increase the UAE’s share in India’s strategic petroleum reserves to 30 million barrels and strategic gas reserves will be established in India.

A separate agreement between Indian Oil Limited Company and Abu Dhabi National Oil Company will provide new opportunities in the sale and purchase of LPG, including long-term supply of the fuel and entering into a long-term sale-purchase agreement between the two companies. The two sides also signed a ‘Strategic Cooperation’ agreement in LPG, aimed at ensuring long-term supply of the most widely used cooking gas in India.

There will be investment in these areas

Prime Minister Modi described the agreements signed between the two sides as important in important areas like energy, defence, infrastructure, shipping and advanced technology. The Ministry of External Affairs said the investment commitment of US$5 billion includes a plan by Abu Dhabi Investment Authority and India’s National Infrastructure and Investment Fund to explore investment opportunities of up to US$1 billion in India’s infrastructure sector.

According to the ministry, ‘Emirates NBD’ will invest US $ 3 billion in RBL Bank, while UAE-based International Holding Company will invest US $ 1 billion in India’s Samman Capital. India’s Foreign Secretary Vikram Misri said, ‘In the area of ​​investment, the UAE has traditionally been an important investor in India. It is the seventh largest investor overall in India in the last 25 years.

The meeting of the Prime Minister and Al Nahyan took place soon after Modi reached UAE on the first leg of his five-nation tour. According to the official statement, both sides have agreed to deepen defense industrial cooperation and cooperate on innovation and advanced technology, training, exercises, maritime security, cyber defence, secure communications and information exchange.

Agreement signed to promote AI

The ministry said the other agreement pertains to setting up a ship repair center in Vadinar, Gujarat and promotion of ports and coastal infrastructure, while the fifth agreement pertains to arrangements for skill development in ship repair. It said that another agreement has been signed, which is related to setting up a cluster of supercomputers to boost India’s AI ambitions.

The Ministry of External Affairs said Modi-Al Nahyan also welcomed the operationalization of the ‘Virtual Trade Corridor’ connecting customs and port authorities of the two countries, which aims to streamline the movement of goods, reduce costs and reduce transit times.

Also read: Will there be tax on foreign trips? Prime Minister Narendra Modi himself gave this answer to the reports