Foreign Secretary Vikram Misri on Friday shared some key details about India and the UAE governments, saying that after Prime Minister Narendra Modi’s visit the UAE will store up to 30 million barrels of crude oil in India’s Strategic Petroleum Reserve. He also noted this step is meant for beefing up energy collaboration and for making India’s energy security in a more durable kind of way. Prime Minister Narendra Modi’s visit seemed to bring in big strategic and economic gains for India. In the course of the trip, the two countries signed agreements to deepen their cooperation around energy security and petroleum storage so it kind of clicks in a broader way.
The agreement also opens up the option of keeping crude oil in Fujairah, UAE, as part of India’s strategic petroleum reseve system. Alongside that, both sides discussed likely collaboration on storage facilities for Liquid Natural Gas (LNG) and Liquid Petrolum Gas (LPG) within India which should help them with supply stability over time.
UAE to Store 30 Million Barrels of Oil in Indian Reserves Amid Crisis
“We will be issuing a more detailed press release later today, but let me give you a snapshot of everything that happened during the course of this brief two-and-a-half-hour visit. On the bilateral front, the two sides have concluded several important initiatives to further deepen our comprehensive strategic partnership. Energy has always been a very important part of this relationship. In the energy cooperation field, we’ve seen several agreements being initialled between Indian energy sector companies and UAE entities, primarily the Abu Dhabi National Oil Company. These include agreements on enhancing UAE participation in Indian strategic petroleum reserves to a level of 30 million barrels, the establishment of strategic gas reserves in India, and long-term LPG offtake supply agreements,” he said.
VIDEO | Foreign Secretary Vikram Misri says, “Prime Minister has just completed a short but very substantial visit to the United Arab Emirates… On the bilateral front, the two sides have concluded several important initiatives to further deepen our comprehensive strategic… pic.twitter.com/hqNdHftJOe
— Press Trust of India (@PTI_News) May 15, 2026
India-UAE Sign USD 5 Billion Investment Deals Across Banking, Infrastructure And Financial Sectors
Misri said that new investment commitments were signed, totalling USD 5 billion.
“In the field of investment, the UAE has traditionally been a significant investor in India, cumulatively the seventh largest investor over the course of the last 25 years. Today, new investment commitments were signed totalling USD 5 billion. These include investments by Emirates NBD Bank in RBL Bank in India, by the Abu Dhabi Investment Authority in the National Infrastructure Investment Fund, and by the International Holding Company in Saman Capital of India,” he said.
UAE commits $5 billion investment into India as ADIA-NIIF eye $1bn in infrastructure, Emirates NBD to invest $3bn in RBL Bank, and International Holding Company to put $1bn in Sammaan Capital.
Foreign secretary Vikram Misri: pic.twitter.com/vQndxvmp9M
— Sidhant Sibal (@sidhant) May 15, 2026
India-UAE Deepen Defence Cooperation With New Strategic Partnership Framework
Misri further said that the two sides built on the initial steps that were taken during the visit of the UAE President to India.
“Defense cooperation has also been a major area of focus in recent years. Today, the two sides built on the initial steps that were taken during the visit of His Highness President Sheikh Mohamed bin Zayed to Delhi in January this year and concluded a framework on a strategic defense partnership. Under this, the two sides will strengthen their collaboration in defense manufacturing, technology, and equipment. Reflecting the Government of India’s initiatives in the shipbuilding industry, agreements were signed today between Cochin Shipyard Limited and Drydocks World of Dubai. These include agreements on setting up a ship repair cluster at Vadinar in India and a center of excellence for skill development in the maritime field,” he said.
India and UAE sign Strategic Framework for Defence Industrial collaboration, covering innovation, advanced technology, joint training, exercises, special operations, interoperability, maritime security, cyber defence and secure communications.
Foreign secretary Vikram Misri pic.twitter.com/N8OmjMU4CY
— Sidhant Sibal (@sidhant) May 15, 2026
UAE to Store 30 Million Barrels of Oil in Indian Reserves Amid Crisis. How Long Does it Last?
The 30 million barrels of crude oil that the Abu Dhabi National Oil Company (ADNOC) plans to store in India will last for approximately 5 to 6 days of the country’s standalone daily consumption. India’s daily oil consumption sits at roughly 5.5 million barrels per day. When we drive it with the new 30 million barrel it stands for 5.45 days of fuel.
Misri added that both countries took steps to cooperate in advanced technology.
“Cooperation in advanced technology took a giant step forward today with the signing of a term sheet for the establishment of an 8-exaflop supercomputing facility in India. This will add to India’s AI mission and the associated infrastructure. Furthermore, as both the UAE and India share an interest in building supply chain resilience, this visit saw the operationalisation of the virtual trade corridor called METRI between Indian and UAE ports. This will lead to much greater efficiencies in maritime commerce between the two nations,” he said.
Prime Minister Modi conveyed India’s strongest condemnation of the attacks that have taken place in the UAE.
“Finally, the situation in the region came in for detailed discussion. The Prime Minister once again conveyed India’s strongest condemnation of the attacks that have taken place in the UAE. He conveyed India’s solidarity with the leadership and the people of the United Arab Emirates and reiterated the need for unimpeded transit passage through the Strait of Hormuz and the cessation of attacks on shipping and on mariners,” he said.
Also Read: UAE F-16 Jets Escort PM Modi’s Flight Into Abu Dhabi Airspace During High-Profile Gulf Visit
Manisha Chauhan is a passionate journalist with 3 years of experience in the media industry, covering everything from trending entertainment buzz and celebrity spotlights to thought-provoking book reviews and practical health tips. Known for blending fresh perspectives with reader-friendly writing, she creates content that informs, entertains, and inspires. When she’s not chasing the next viral story, you’ll find her diving into a good book or exploring new wellness trends.
