In an encouraging development, India has signed wide-ranging set of seven agreements with UAE which includes cyber security, infrastructure investment and insurance after talks between Prime Minister Narendra Modi and Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayad Al Nahayan. Out of seven agreements, four were inked in presence of Modi and Al Nahyan. Another pact between Dubai Economic Council and Export Import Bank of India will be signed in Mumbai on Feb 12.
The MoUs signed will also provide for cooperation in areas of skill development, space and cultural exchanges. The major focus of the deliberation was expanding economic engagement, particularly in oil and renewable energy sector and increasing UAE's investment in India. Another pact was signed for creating a framework for facilitating participation of UAE's institutional investors in India's infrastructure sector while a separate agreement provides for cooperation in the insurance sector.
The agreement of cyber space will provide greater synergy between security agencies of the two countries to combat efforts to radicalise youths through online platforms besides checking activities of terror groups. The two leaders discussed on combating threat of terrorism including from ISIS, and explored ways to enhance bilateral cooperation in counter-terrorism, maritime security and defence.
A major focus of the three-day visit by the influential UAE leader is stepping up economic ties. Recently, UAE Ambassador Ahmed Al Banna has said that the agreements will lead to 'huge investment portfolio' in diverse areas including renewable energy, oil and gas and some other major sectors.