PM Modi On UAE, 4-Nation Europe Tour For Energy, Tech Ties Amid Iran War

Indian Prime Minister Narendra Modi began a five-nation tour on May 15, starting with the UAE before visiting the Netherlands, Norway, Sweden, and Italy. The trip focuses on energy security and technology cooperation amid rising tensions in the Gulf, which threaten global shipping routes and oil markets. India relies on the UAE as a critical energy partner, with bilateral trade exceeding $100 billion in FY 2025-26 and plans to double it to $200 billion by 2032. In the UAE, Modi will meet President Sheikh Mohamed bin Zayed Al Nahyan to finalize agreements on LPG and Strategic Petroleum Reserves, reinforcing long-term energy supply deals. The UAE remains India’s seventh-largest investor, with cumulative FDI of $25.19 billion, while a Local Currency Settlement system reduces dollar dependency for trade and remittances. Over 3 million Indians in the UAE contribute significantly to India’s forex reserves through remittances. Modi’s visit to the Netherlands, his second since 2017, will include a semiconductor deal between Tata Electronics and ASML for a fabrication plant in Gujarat. The two nations aim to expand cooperation in hydrogen, water management, and clean energy, with trade hitting $27.8 billion in FY 2024-25. The Netherlands is India’s fourth-largest investor, with over 300 companies operating in both countries. The trip also covers Sweden, where Modi will engage in discussions on technology and sustainability, marking his first visit since 2018. Both sides are expected to explore collaborations in renewable energy and innovation, aligning with India’s push to diversify partnerships amid global economic uncertainties. The focus remains on leveraging India’s scale with advanced European technologies for mutual growth.