In the past half-century, the energy sector has played a vital role in fostering a special and mutually beneficial relationship between the United Arab Emirates and India. Today, India stands as one of the UAE's foremost energy trading partners, solidifying their strategic ties.
Recent years have witnessed a significant strengthening of the energy collaboration between the two nations, largely attributed to the Comprehensive Strategic Partnership. This partnership has paved the way for substantial investment opportunities and has propelled the UAE into a prominent position as one of India's primary energy suppliers. Notably, the UAE takes pride in being the first international partner to invest in India's Strategic Petroleum Reserves Program, primarily through crude oil contributions. Furthermore, Indian companies have substantially increased their involvement in the UAE's energy sector, establishing themselves as key partners in Abu Dhabi's concession and exploration projects.
As the UAE and India navigate the global energy transition, they remain dedicated to working together to foster a fair and sustainable shift toward a low-carbon future. In light of their joint commitment to addressing climate change, Indian Prime Minister Narendra Modi extended his congratulations to His Highness Sheikh Mohamed on the UAE's selection as the host of COP28 in 2023. Recognizing the urgent need for climate action, the leaders of both nations have pledged to intensify cooperation to accelerate the energy transition and effectively implement the Paris Agreement. They also expressed their intention to collaborate closely within the framework of COP, the International Renewable Energy Agency (IRENA), and the International Solar Alliance (ISA).
Acknowledging the vast opportunities that arise from climate action, the leaders have committed to supporting each other's clean energy missions. In this regard, they have agreed to establish a joint Hydrogen Task Force with a specific focus on scaling up technologies, particularly in the production of Green Hydrogen. The leaders welcomed the ongoing UAE investments in India's clean technology programs and initiatives and emphasized the importance of reinforcing business-to-business (B2B) and public-private partnerships.
