The UAE and India signed eight initial pacts across various key sectors, from logistics to health care, that are aimed at deepening economic ties between the countries.
The preliminary agreements also cover industries including infrastructure, higher education, maritime services, logistics and private sector engagement, the Dubai Media Office said in a statement on Thursday.
They were signed during the official visit to India by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence.
“India and the UAE are bound by a deep-rooted friendship and a shared dedication to shaping the future through innovation, opportunity and sustainable growth," Sheikh Hamdan said.
“We look forward to accelerating progress in sectors that matter most for our collective future, building on the strong momentum we have achieved through frameworks like the Comprehensive Economic Partnership Agreement and the bilateral investment treaty."
Deals signed
Dubai Chambers signed three preliminary agreements with the Confederation of Indian Industry, the Federation of Indian Chambers of Commerce and Industry, and the IMC Chamber of Commerce and Industry.
Dubai Chambers will support Indian businesses in establishing or expanding their presence in the emirate and provide strategic services aimed at accelerating the investment process, the statement added.
Meanwhile, the three Indian groups will provide similar support to Dubai-based companies exploring business opportunities in India. The agreements also outline collaboration in joint participation at trade fairs, investment missions, conferences and exhibitions in both markets.
Dubai-based ports operator DP World also signed an initial pact with Rites, an infrastructure consultancy and engineering firm under India’s Ministry of Railways.
The agreement aims to further leverage the UAE-India Virtual Trade Corridor, a digital platform launched in September last year to streamline customs, logistics and regulatory processes between the two countries. It will aim to boost collaboration on projects such as multimodal logistics parks, free trade zones, port connectivity and rail freight solutions, to "build diversified trade routes that can withstand global disruptions".
Drydocks World, a DP World company, also signed an initial pact with Cochin Shipyard, an Indian shipbuilding and maintenance facility, under India’s Ministry of Ports, Shipping and Waterways. The agreement establishes a framework for the joint development of ship repair clusters in Kochi and Vadinar, in India, as well as offshore fabrication and collaborative marine engineering solutions.
Other deals include an initial pact signed by the Dubai Department of Economy and Tourism with the Indian Institute of Management Ahmedabad to establish an IIMA campus in Dubai, to be developed in two phases. In the first phase, the IIMA will be allocated space within Dubai International Academic City. Under the agreement, the IIMA aims to launch its one-year, full-time MBA programme in Dubai this year.
In the second phase, the IIMA will be allotted land for the establishment of a permanent campus, which is expected to become operational by 2029.
Dubai Health also signed a pact to establish the UAE-India Friendship Hospital, a non-profit initiative aimed at providing inclusive and accessible health care, in Dubai.
The eighth agreement was between the Dubai Medical University and the All India Institute of Medical Sciences to strengthen academic and research collaboration.
