India and UAE Strengthen Ties in Industries and Advanced Technologies

India and UAE Strengthen Ties in Industries and Advanced Technologies

VoM News Desk | October 5, 2023 | 06:57 PM IST | India, Science & Technology, UAE, World | Follow on Google News

India and UAE Strengthen Ties in Industries and Advanced Technologies

India and UAE Strengthen Ties in Industries and Advanced Technologies

India and the United Arab Emirates (UAE) have inked a Memorandum of Understanding (MoU) aimed at bolstering cooperation in the realms of industries and advanced technologies. This strategic agreement seeks to fortify and cultivate industrial sectors in both nations through investments, technology transfer, and the deployment of key technologies. The partnership will leverage joint funds and concerted efforts to propel industry development.

The MoU was formally signed by India’s Commerce and Industry Minister, Piyush Goyal, and the UAE’s Minister of Industry and Advanced Technology, Sultan Al Jaber.

The High-Level Task Force on Investments

Minister Goyal’s presence in the UAE is in conjunction with the 11th meeting of the India-UAE High-Level Task Force on Investments. This MoU is expected to play a pivotal role in enhancing industrial and technological collaboration between the two nations.

Fostering Institutional and Corporate Capabilities

The MoU also underscores the importance of building institutional and corporate capabilities and skills. Both countries are committed to cooperating in the development and advancement of industries and technologies within sectors deemed strategically significant for economic growth and diversification. This collaboration will encompass industrial and academic partnerships, joint research and development projects, knowledge sharing on science and technology policies, best practices, standardization, metrology, conformity assessment, accreditation, and ‘halal’ certification.

Diverse Fields of Cooperation

The scope of industrial and advanced technology cooperation spans various domains, including fortifying supply chain resilience, renewable energy, energy efficiency, health and life sciences, space systems, artificial intelligence, and Industry 4.0 enabling technologies. This multifaceted collaboration reflects the shared commitment of India and the UAE to harness innovation and technology for mutual progress and development.

This MoU serves as a testament to the deepening ties and shared vision between India and the UAE in promoting economic growth, technological advancement, and industrial excellence.

VoM News Desk

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