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India and UAE Sign MoU to Boost Investment and Collaboration in Industry and Advanced Technologies

October 6, 2023 10:00 AM IST

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India and the United Arab Emirates  have taken a significant step towards strengthening their partnership in sustainable industrial development and advanced technologies. A memorandum of understanding (MoU) was officially inked on Thursday in Abu Dhabi, solidifying the commitment to collaborative efforts in areas such as supply chain resilience, clean energy technology, healthcare, space, Industry 4.0, and industrial standards.

The MoU was signed by the Minister of Commerce and Industry,  Piyush Goyal, representing India, and Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, in the presence of  Sheikh Hamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council.

The primary focus of this landmark agreement is to facilitate industrial investments, technology transfer, and the implementation of key innovations across various industries. The collaboration aims to yield mutual benefits, as both nations strive for joint industrial and technological advancements.

Al Jaber emphasized, “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 MoU covers a wide spectrum of cooperation, including advanced industries, energy transition solutions, healthcare, and space. It also seeks to develop innovative technological solutions that align with sustainability and climate neutrality goals.

Goyal noted, “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.”

The agreement’s seven key areas of focus include supply chain resilience, renewable energy and energy efficiency, health and life sciences, space systems, AI, Industry 4.0, advanced technologies, and standardization and metrology.

To enhance supply chain resilience, the UAE and India will collaborate to identify opportunities for raw material supply and share best practices in industrial enablement and incentivization.

In the energy sector, the two countries will work together to advance energy storage technologies, Smart Grid deployment, and research and development in renewable energy and energy efficiency.Healthcare and life sciences collaboration will involve the development of pharmaceuticals, biotechnology utilization, and research and development in these areas.

The MoU also highlights the intent to bolster space industries through commercial development, small satellite launches, space exploration, and licensing of space-related materials. In the field of AI, both nations will cooperate in deploying AI technologies across various sectors, including space, energy, healthcare, and supply chains. They will work to advance machine learning and data analytics capabilities.Additionally, the agreement emphasizes the deployment of Industry 4.0 technologies, real-time data processing, autonomous robotics, and additive manufacturing in key industries.

Lastly, standardization, metrology, conformity assessment, accreditation, and Halal certification will be areas of cooperation, with the goal of harmonizing standards and mutual recognition of conformity assessment results. Under this MoU, industrial and academic collaborations, collaborative research and development projects, and the sharing of best practices in science and technology policies will be encouraged, further solidifying the comprehensive nature of the partnership.

This strategic MoU is expected to pave the way for significant advancements in both countries, promoting sustainable growth, competitiveness, and efficiency across various industries while fostering innovation and technological excellence.
 

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