- Prime Minister Modi began his official visit to the UAE amid a global energy crisis
- He will discuss trade, investment, energy security, and people-to-people ties in Dubai
- Two key MoUs on LPG and Strategic Petroleum Reserves are expected to be signed
Prime Minister Narendra Modi has left for Abu Dhabi, beginning his official visit to the United Arab Emirates (UAE) amid the global energy crisis due to the war in the Middle East. The trip, which coincides with a fuel price hike in the country, is aimed at strengthening India's energy security and further strengthening the bilateral Comprehensive Strategic Partnership between the two countries.
In Dubai, PM Modi will hold talks with the President of the UAE, Mohamed bin Zayed Al Nahyan, on key areas of cooperation, including trade, investment, energy security, and people-to-people ties. Sources told NDTV that two important memorandums of understanding, in the areas of Liquefied Petroleum Gas (LPG) and Strategic Petroleum Reserves, are likely to be concluded during this visit.
The pacts are expected to further deepen strategic and economic engagement between New Delhi and Abu Dhabi, one of India's key partners in the Gulf region.
"The visit will serve to promote the significant trade and investment linkages between the two countries," the Ministry of External Affairs stated.
The UAE is India's third-largest trade partner and its seventh-largest source of investment cumulatively over the past 25 years. With the UAE hosting a strong Indian community of over 4.5 million, the visit will also be an opportunity to discuss their welfare.
Through the current turmoil in the Middle East, the UAE has remained one of India's most reliable energy partners and continues to be so. With long-term supply agreements in place, India will further bolster its energy security.
After months of absorbing the fuel price shock due to US-Iran war, India has finally hiked retail selling prices of petrol and diesel. The hike, effective from Friday (May 15), is the first in four years for retail consumers. The price of CNG has also been raised by Rs 2.
PM To Also Visit 4 European Nations
Briefing the media, Secretary (West) in the Ministry of External Affairs, Sibi George, earlier stated that in the second leg of his visit, the prime minister will also visit the Netherlands. From there, he'll travel to Sweden's Gothenburg and hold bilateral talks with his Swedish counterpart, Ulf Kristersson. The two Prime Ministers will also address the European Round Table for Industry, a leading pan-European business leaders' forum, along with the President of the European Commission, Ursula von der Leyen.
The next Prime Minister will visit Norway on Monday for the 3rd India-Nordic Summit and bilateral engagements. In the final leg of his visit, the Prime Minister will be in Italy on Tuesday. During the visit, PM Modi will call on President Sergio Mattarella and hold talks with Prime Minister Georgia Meloni.
