Abu Dhabi Signs Agreements To Enhance Economic Partnerships With India And Singapore

The Abu Dhabi economic delegation, led by the Abu Dhabi Department of Economic Development (ADDED), recently completed a productive visit to India and Singapore. The trip aimed to forge stronger partnerships across various sectors, enhancing Abu Dhabi's appeal as a hub for talent, businesses, and investments. Agreements were signed, and opportunities explored to solidify these relationships.

During their visits, the delegation engaged in over 140 bilateral meetings with key entities, including financial powerhouses and family businesses. These discussions aimed to co-create and seize opportunities in diverse industries and regions. Five Memoranda of Understanding (MoUs) were signed with Indian partners to boost collaboration in areas like startups, logistics, manufacturing, and trade facilitation.

Ahmed Jasim Al Zaabi, Chairman of ADDED, highlighted the significance of these visits: "Our visit to Singapore and India comes as we continue to strengthen ties with top trade partners and economic powerhouses around the globe." He emphasised that impactful partnerships are crucial for Abu Dhabi's 'Falcon Economy', which is driving the emirate's transition towards a smart and sustainable economy.

In 2024, Singapore's investments in Abu Dhabi increased by 25%, focusing on sectors such as manufacturing and education. Meanwhile, Indian companies operating in Abu Dhabi experienced a 31% rise during the same period. Discussions during the visits centred on deepening partnerships in strategic sectors like life sciences, AI, fintech, sustainable energy, logistics, and advanced industries.

The Abu Dhabi Chamber of Commerce and Industry, ADGM, the Abu Dhabi Investment Office (ADIO), and Abu Dhabi Customs organised forums in Singapore and Mumbai. These events aimed to build relations and highlight opportunities arising from Abu Dhabi’s plans for economic growth. The Abu Dhabi Investment Forum (ADIF) in Mumbai provided a platform for Indian businesses to explore opportunities through direct engagement with key decision-makers.

H.E. Dr. Abdulnasser Alshaali, UAE Ambassador to India, stated at the forum: "Today, the UAE and India partnership is entering one of its most dynamic chapters." He noted that decades of trust are converging with new technologies and opportunities. Initiatives like the ‘UAE-India Start-up Series’ connect India's talent pool with UAE’s strategic capital.

Focus on Innovation

The UAE-India Start-up Series has become India's largest start-up initiative. It attracts over 10,000 founders across sectors like fintech, agri-tech, health-tech, clean energy, logistics, and advanced manufacturing. Five start-ups will be selected for global expansion using the UAE as their launchpad. This series exemplifies UAE’s innovation landscape by supporting start-ups through incubation and mentorship.

Senior policymakers from India and Singapore participated in events showcasing Abu Dhabi’s investment landscape. They explored collaboration avenues across mobility, healthcare, food security finance sectors with high growth potential. Discussions also covered enhancing collaborations in next-generation industries within sector-specific clusters launched between 2023-2025.

Sector-Specific Clusters

Indian and Singaporean start-ups discussed enhancing collaborations within clusters like Smart Vehicles Industries (SAVI), AgriFood Growth & Water Abundance (AGWA), Health Endurance Longevity Medicine (HELM). These clusters are projected to contribute AED228 billion ($62 bn) to GDP by 2045 while creating over 120k jobs attracting AED200 billion ($54.5 bn) investments.

The visit underscored Abu Dhabi's commitment to fostering international partnerships that drive economic growth. By engaging with global leaders across various sectors during these visits; they aim not only at strengthening existing ties but also exploring new opportunities for collaboration ensuring continued prosperity both locally globally.

With inputs from WAM