In the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Shri Narendra Modi, Prime Minister of the Republic of India

• The Memorandum of Understanding between both countries aims to assess and assess the technical and investment potential of developing data center projects in India with an initial capacity of up to 2 gigawatts.

The UAE was the fourth largest investor in India in 2023 and the seventh largest source of foreign direct investment overall.

Abu Dhabi, United Arab Emirates, February 14, 2024: In the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, and His Excellency Shri Narendra Modi, Prime Minister of the Republic of India, the Ministry of Investment of the United Arab Emirates and the Ministry of Electronics and Information Technology of the United Arab Emirates The Republic of India has signed a memorandum of understanding that sets out a framework for expanding bilateral investment cooperation in the field of digital infrastructure, with a particular focus on data center projects in India.

The memorandum marks a significant step towards developing capabilities in digital infrastructure and artificial intelligence between both nations. This reflects the leadership of the UAE and India in promoting regional and digital connectivity.

The MoU was signed by His Excellency Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and His Excellency Dr. Subrahmanyam Jaishankar, Foreign Minister of the Republic of India, signed. on behalf of the Ministry of Electronics and Information Technology of the Republic of India.

Under the memorandum, both countries will jointly explore, assess and evaluate the technical and investment potential of developing data center projects in India with an initial capacity of up to 2 gigawatts. The memorandum will also promote and facilitate investments in digital public infrastructure (DPI), artificial intelligence (AI) and aspects related to research, development and innovation. To support the establishment of a supercomputer cluster in India, both countries will also assess the technical and investment potential of developing 8 exaflops of AI computing capacity for use by the government, public, private and academic sectors.

The UAE was the fourth largest investor in India in 2023 and the seventh largest source of foreign direct investment overall. India is now among the top 15 countries in the world in terms of data center capacity and has a network of 151 data centers spread across different regions. The country's internet economy is expected to reach $1 trillion by 2030, a significant increase from $175 billion in 2022.

This growth is largely due to the widespread preference for digital interactions among consumers and merchants in the country of more than one billion people. The trend is further accelerated by data localization policies that mandate domestic storage of local data, as well as Digital India, an initiative by the Indian government to ensure its services are electronically accessible to citizens. Increased data consumption requires improved digital infrastructure and a resilient data center ecosystem.

The memorandum between the Ministry of Investment of the UAE and the Ministry of Electronics and Information Technology of the Republic of India focuses on creating strong and effective collaboration through building relationships between public and private organizations in the UAE and India. It also facilitates knowledge sharing.

His Excellency Mohamed Hassan Alsuwaidi, UAE Minister of Investment, said: “This memorandum is based on the strong historical relationship between our two countries and is strengthened by a shared vision to leverage technology to drive innovation, economic growth and social development.” It will provide India with a scalable solution to meet its growing needs to meet investment relief needs and ensure that businesses and industries can adapt more effectively to the needs of the future.”

The Memorandum of Understanding follows the signing of several strategic agreements between the UAE Ministry of Investment and respective ministries in India in January 2024 in areas such as renewable energy, food processing and healthcare.

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