The new agreements come at a time when India and the UAE continue to strengthen trade and investment ties.
India and the UAE have signed a pact to expand bilateral investment agreement in digital infrastructure, with a focus on developing data centre projects in Asia’s third-largest economy. The two countries signed the preliminary MoU in the presence of UAE’s President Sheikh Mohamed and Indian Prime Minister Narendra Modi, who is on a two-day visit to the Emirates.
Mohamed Alsuwaidi, UAE’s Minister of Investment, said, “The agreement is built on the strong historical relationship between our two countries, is reinforced by a shared vision to leverage technology for driving innovation, economic growth and societal development.”
The UAE ministry said, “This growth is largely driven by the widespread preference for digital interactions among consumers and merchants in the country, which has a population exceeding one billion. The trajectory is further accelerated by data localisation policies mandating the domestic storage of local data, as well as ‘Digital India’, an initiative launched by the government of India to ensure its services are electronically accessible to citizens.”
The new agreements come at a time when India and the UAE continue to strengthen trade and investment ties. As part of the agreement, the two countries will jointly explore, assess and evaluate the technical and investment potential of developing data centre projects in India with an initial capacity of up to 2 gigawatts, the UAE’s Ministry of Investment.
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