The Ministry of Investment of the UAE and the Ministry of Electronics & Information Technology of the Republic of India have signed a Memorandum of Understanding this week with the aim of accelerating growth in the digital economy.
The MoU sets out a framework for the expansion of bilateral investment cooperation in the digital infrastructure sector, with an emphasis on data centre projects in India.
The MoU was signed by His Excellency Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, and His Excellency Dr. Subrahmanyam Jaishankar, Minister of External Affairs of the Republic of India, on behalf of the Ministry of Electronics & Information Technology of the Republic of India.
By signing the agreement, both countries will jointly explore, assess and evaluate the technical and investment potential of developing data centre projects in India with an initial capacity of up to 2 gigawatts.
Speaking about the MoU, His Excellency Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, said: “This memorandum, built on the strong historical relationship between our two countries, is reinforced by a shared vision to leverage technology for driving innovation, economic growth and societal development. It will provide India with a scalable solution to meet its growing demands through investment facilitation, ensuring that businesses and industries can adapt more effectively to the needs of the future.”
The MoU will also promote and facilitate investments in Digital Public Infrastructure (DPI), Artificial Intelligence (AI) and aspects related to R&D and Innovation.
To support the deployment of a supercomputer cluster in India, both countries will assess the technical and investment potential of developing AI compute capacity of 8 exaflops for use by government, public, private sectors and academia.
The signing took place in the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and His Excellency Shri Narendra Modi, Prime Minister of the Republic of India.