India, UAE ink pact on cooperation in sustainable industrial development

New Delhi, Oct 5 (IANS) India and UAE will cooperate closely in sustainable industrial development following a memorandum of understanding (MoU) signed on Thursday at Emirates Palace. The MoU was signed by Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and Commerce Minister, Piyush Goyal.

The MoU focusses on seven key areas, including supply chain resilience, renewable energy and energy efficiency, health and life sciences, space systems, Artificial Intelligence, Industry 4.0 and advanced technologies, as well as standardisation and metrology. 

To build supply chain resilience, both nations 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 such as energy, land, CAPEX, OPEX, technology, and labour. 

In the energy space, India and the UAE will collaborate in advancing energy storage technologies, Smart Grid and research and development in renewable energy and energy efficiency. 

Similarly, in health and life sciences, the two countries will collaborate in the development of pharmaceuticals, the use of biotechnology and R&D. 

The India and UAE are also seeking to enhance their respective space industries through closer collaboration in space systems. 

The MoU will help the countries to collaborate in the commercial development, launch and use of small satellites for communication and Earth observation, as well as space exploration. 

The countries will also collaborate in the development of licens Cing of space-related materials, in addition to R&D in the space sector. 

In the field of AI, the UAE and India will cooperate in the deployment of AI technologies in the space sector, energy, healthcare and supply chains. 

Both countries will work together to advance capabilities in machine learning and data analytics across priority sectors. 

Commenting on the pact, 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." 

Goyal on his part said: "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 Space, healthcare, renewable energy, artificial intelligence, and many other vital areas."