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India and the United Arab Emirates (UAE) have agreed to enhance their collaboration to drive investment and collaboration in industry and advanced technologies. The two sides signed a memorandum of understanding (MoU) that encompasses seven critical domains, including artificial intelligence, supply chain resilience, renewable energy, energy efficiency, health and life sciences, space systems, Industry 4.0 and advanced technologies, as well as standardisation and metrology.
With a focus on streamlining industrial investments, transferring technology, and implementing pivotal technologies in various industries, the MoU promises mutual benefits to both nations through collaborative industrial, and technological advancements.
India’s Minister of Commerce and Industry, Piyush Goyal, said that the agreement paves the way for enhanced collaboration and the establishment of an institutional framework in emerging technology fields. It will promote and advance bilateral cooperation in critical sectors such as space, healthcare, renewable energy, and AI, among others.
The UAE Minister of Industry and Advanced Technology Sultan 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.” The move aligns with the goals of the national industrial strategy and the ‘Make it in the Emirates’ initiative, which is aimed at the UAE’s transformation into a global hub for advanced industries, particularly industries of the future.
The MoU covers a wide spectrum of collaborative efforts aimed at bolstering industrial investments in key sectors vital to the national economies of both nations. Additionally, the agreement will foster innovative and technological solutions that align with sustainability and climate neutrality objectives. Through close collaboration in these strategic domains, the UAE and India can accelerate sustainable economic growth and diversify their economies, enhancing the competitiveness, efficiency, and sustainability of their respective industries.
In the field of AI, the UAE and India will join forces to implement AI technologies in space, energy, healthcare, and supply chains. They will work together to advance capabilities in machine learning and data analytics across priority sectors.
To fortify 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 incentivisation for industrial growth and development, for instance in areas like energy, land, CAPEX (Capital Expenditure), OPEX (Operational Expenditure), technology, and labour.
In the energy space, the two sides will advance energy storage technologies, deploy Smart Grid and IoT solutions, and conduct research and development in the fields of renewable energy and energy efficiency. Similarly, in health and life sciences, they will collaborate on pharmaceutical development, the use of biotechnology, and research initiatives.
The MoU will boost both nations’ space industries, fostering cooperation in commercial development, and developing, launching, and using small satellites for communication, Earth observation, and space exploration.
Furthermore, they will work together to deploy 4IR (Fourth Industrial Revolution) technologies in industry, real-time data processing, develop machine-to-machine control systems, create autonomous robotics, equipment, and vehicles, and implement additive manufacturing in critical industries. The collaboration entails industrial and academic partnerships, joint research and development initiatives, and the exchange of best practices concerning science and technology policies.
