India Inks MoU With UAE For Investment & Collaboration In Industry And Advanced Tech

New Delhi, Oct 6 (KNN) India and the UAE on Thursday inked an MoU on increasing cooperation in the field of industries and advanced technologies.

The MoU was signed between Indian Commerce and Industry Minister Piyush Goyal and Minister of Industry and Advanced Technology of UAE Sultan Al Jaber. It was signed on the side-lines of the 11th meeting of the UAE-India High Level Joint Task Force on Investments (‘the Joint Task Force’).

It aims at strengthening and developing industries in both nations through investments, technology transfer and deployment of key technologies in industries, by benefitting from joint funds and mutual efforts.

Under this agreement, the two countries will cooperate in the development and advancement of industries and technologies in sectors of strategic interest for the growth and diversification of their economies.

This can be achieved through industrial and academic collaborations; collaborative research and development projects; sharing of science and technology policies, best practices; standardisation, metrology, conformity assessment, accreditation, and 'halal' certification.

The areas and fields of industrial and advanced technology cooperation include strengthening the supply chain resilience of industries, renewable and energy efficiency, health and life sciences, space systems, artificial intelligence, and Industry 4.0 enabling technologies.  (KNN Bureau)