According to the statement, both countries also signed agreements related to strategic petroleum reserves and the supply of liquefied petroleum gas (LPG).
Under the new defence framework, the two sides agreed to deepen cooperation in defence manufacturing, innovation and advanced technologies, as well as joint training, military exercises, maritime security, cyber defence, secure communications and information sharing.
Ahead of Modi’s visit, Indian officials had indicated that discussions would focus on securing long-term energy supply agreements and expanding India’s strategic oil reserves.
The development comes amid ongoing instability in global energy markets caused by the conflict involving Iran, the United States and Israel, which has disrupted shipping through the Strait of Hormuz — a critical route for nearly 20% of global oil trade.
The conflict has also affected transport and commercial activity across the Gulf region after Iranian strikes targeted several Gulf states, including the UAE, before a fragile ceasefire was reached last month.
Last month, the UAE announced its decision to leave OPEC, a move expected to increase its oil production and benefit major importers such as India.
In January, New Delhi and Abu Dhabi had already signed a $3 billion agreement for India to purchase liquefied natural gas from the UAE, which is India’s third-largest trading partner.
Friday’s statement also highlighted planned UAE investments worth $5 billion in India, including Emirates NBD’s acquisition of a 60% stake in RBL Bank for $3 billion last year, along with a $1 billion investment by IHC in Sammaan.
