India and the UAE will cooperate more closely in sustainable industrial development following a memorandum of understanding (MoU) signed between the two countries in Abu Dhabi on Thursday.
The MoU was signed by Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Mr Piyush Goyal, Minister of Commerce and Industry.
Focusing on facilitating industrial investments, technology transfer and enabling the deployment of key technologies in industries, the MoU will benefit both countries through joint industrial and technological developments.
Dr Al Jaber said: “In line with the UAE leadership’s vision, we are committed to strengthening bilateral relations to enhance sustainable and economic growth. Given the UAE’s strong relationship with India across the economic, technological, and social domains, we are pleased to sign this MoU to further develop the industrial sector in line with advanced technology and sustainability standards. This aligns with the objectives of the national industrial strategy, and ‘Make it in the Emirates’ initiative, aimed at transforming the UAE into a global hub for advanced industry, especially industries of the future.”
He added: The MoU encompasses various aspects of cooperation aimed at promoting industrial investments in priority sectors for the national economies of both countries, including advanced industries, energy transition solutions, healthcare, and space. It also aims to develop innovative and technological solutions that support sustainability and climate neutrality efforts. By working closely within these strategic sectors, the UAE and India can accelerate sustainable growth and diversify their economies, promoting industries that are more competitive, efficient, and sustainable.”
The Indian minister said: “This MoU opens new doors to develop cooperation efforts and build an institutional framework in the fields of emerging technologies. It would help in promoting and developing bilateral cooperation in sectors such as Space, healthcare, renewable energy, artificial intelligence, and many other vital areas.”
The MoU focuses on seven key areas, including supply chain resilience, renewable energy and energy efficiency, health and life sciences, space systems, AI, Industry 4.0 and advanced technologies, as well as standardization and metrology.
To build supply chain resilience, the UAE and India will collaborate to identify opportunities to supply raw materials. They will also share best practices on industrial enablement and incentivization for industrial growth and development, for instance in areas such as energy, land, CAPEX, OPEX, technology, and labour.
In the energy space, India and the UAE will collaborate in advancing energy storage technologies, Smart Grid and IoT deployment, and R&D in renewable energy and energy efficiency. Similarly, in health and life sciences, the countries will collaborate in the development of pharmaceuticals, the use of biotechnology, and R&D.
The two countries are also seeking to enhance their respective space industries through closer collaboration in space systems. The MoU will help the countries to collaborate in the commercial development, launch and use of small satellites for communication and Earth observation, as well as space exploration. They will also collaborate in the development of licensing of space-related materials, in addition to R&D in the space sector.
