The agreement also aims to accelerate the development of technologies that can help decarbonise industry and advance renewable energy
The UAE and India will cooperate more closely in sustainable industrial development following a memorandum of understanding (MoU) signed on Thursday at Emirates Palace. The MoU was signed by His Excellency Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and His Excellency Piyush Goyal, India’s Minister of Commerce and Industry, with the presence of Sheikh Hamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council.
In health and life sciences, the countries will collaborate in the development of pharmaceuticals, the use of biotechnology and R&D.
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. HE 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.”
Goyal commented, “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.”