Trade, security to be focus of Modi and UAE Crown Prince Al Nahyan talks

UAE would like to invest significantly in India's energy and infrastructure sectors from its sovereign wealth fund of USD 800 billion.

New Delhi:

Boosting trade ties by ramping up UAE's investment in India and stepping up defence and security cooperation in the wake of rising threat of ISIS are set to be the major focus of talks between Abu Dhabi's Crown Prince Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister Narendra Modi on Thursday.

Economy of UAE, one of the leading producers of oil, has been hit hard by falling crude prices and it is expected that the Gulf nation would like to invest significantly in India's energy and infrastructure sectors from its sovereign wealth fund of around USD 800 billion. India has been eying the fund, being managed by the Abu Dhabi Investment Authority, for its infrastructure sector including for railways, ports and roads.

Joint production of defence equipment is another key area where both the countries are working hard. Under the initiative, UAE may make investment for manufacturing such equipment in India and get the products' supply.

Strengthening existing cooperation in information sharing and counter-terrorism will be another focus area in view of rising threat of ISIS. UAE has deported about a dozen Indians with suspected links to the terror group.

"The security cooperation between the two countries has been exemplary. There is concrete meeting of minds on the issue," said Anil Wadhwa, Secretary (East) in the Ministry of External Affairs.

Asked whether India will raise the issue of attaching properties of wanted terrorist Dawood Ibrahim in UAE, Wadhwa refused to talk about any specific individual maintaining these are "ongoing processes".

Al Nahyan is accompanied by a power-packed delegation for his three-day trip till February 12, which includes several top ministers and over 100 business tycoons and CEOs of top companies.