India ready to support early restoration of peace in West Asia: PM Modi

India, UAE sign landmark energy, defence pacts; Abu Dhabi pledges USD 5 bn investment

Abu Dhabi, May 15 : India is ready to extend all possible support for the earliest restoration of peace and stability in West Asia, Prime Minister Narendra Modi said on Friday, as he condemned the attacks on the UAE while praising the Gulf country’s leadership for its handling of the situation with restraint.

During his meeting with UAE President Sheikh Mohamed bin Zayed in Abu Dhabi, Modi also assured him that India stands shoulder to shoulder with the UAE in every situation and will continue to do so in the future.

Underlining that the impact of the volatile situation in West Asia is being felt across the globe, Modi said India has always given priority to dialogue and diplomacy to resolve the issues.

“India is ready to extend all possible support for the restoration of peace and stability at the earliest,” the Prime Minister said.

Prime Minister Modi also conveyed India’s clear position in favour of ensuring safe transit passage and unimpeded navigation through the Strait of Hormuz, which is vital for enduring regional peace and stability, as well as energy and food security.

He said that keeping the Strait of Hormuz free, open and safe is our highest priority and added that adherence to international laws is essential.

Iran shut down the Strait of Hormuz, a key waterway between the Persian Gulf and the Gulf of Oman, following the launch of the US-Israeli attacks on February 28.

The UAE, which hosts a US military base, has been at the receiving end of Iranian strikes during the ongoing US-Israeli war on Iran.

Modi and Mohamed bin Zayed held a series of detailed discussions, during which the Prime Minister reaffirmed India’s strong condemnation of the attacks on the UAE, as well as its solidarity with the leadership and the people of the Gulf country.

“We strongly condemn the attack that took place in the UAE. The way the UAE was targeted is unacceptable in any form,” Modi said, without naming any country.

Last week, three Indian nationals were injured after a fire broke out on the Fujairah Petroleum Industries Zone (FOIZ) in the UAE following a drone strike. The UAE’s Ministry of Defence blamed Iran for the attack.

“In these difficult circumstances, the restraint, courage and wisdom demonstrated by you are highly commendable,” Modi told the UAE president.

Modi also thanked him for taking care of the Indian community like members of his own family in such challenging times.

India and the UAE also signed a framework for a strategic defence partnership which focuses on defence industrial collaboration, technology sharing, innovation and regional security cooperation, the Ministry of External Affairs (MEA) said.

Under the framework, the two countries are set to explore joint development of military hardware besides boosting cooperation in a number of other crucial areas.

The two sides also signed a separate strategic collaboration pact on LPG, which is supposed to ensure long-term supply of the cooking fuel widely used in India.

The UAE announced investments worth USD 5 billion in India – which, Modi said, will “further deepen economic ties.”

The MEA said that the USD 5 billion investment commitment included plans by Abu Dhabi Investment Authority and India’s National Infrastructure and Investment Fund to explore investments of up to USD 1 billion in India’s infrastructure sector.

According to the ministry, Emirates NBD will invest USD 3 billion in RBL Bank, while UAE-based International Holding Company will invest USD 1 billion in Sammaan Capital of India.