The UAE Ministry of Investment has signed three Memorandums of Understanding (MoUs) with India, laying the groundwork for increased bilateral investment cooperation in renewable energy, food processing and healthcare.

The agreements were signed by the respective Indian ministries, demonstrating the UAE's strong commitment to assisting the continued development of India's thriving economy, which is expected to grow by 7.3% this fiscal year.

Economic engagement between the UAE and India is multifaceted and rapidly expanding, supported by a Comprehensive Economic Partnership Agreement (CEPA) signed by the two countries in May 2022.

Memorandum of Understanding on Investment Cooperation in Innovative Healthcare Projects.

Mohamed Hassan Al Suwaidi, UAE Minister of Investment and Dr. Mansukh Mandaviya, India's Minister of Health and Family Welfare, signed an agreement on investment cooperation in innovative healthcare projects.

The Memorandum of Understanding places a special emphasis on precision health, which is personalised healthcare based on a person's unique genetic, genomic or biological composition to assist in achieving well-being and optimal health. One of the possible projects under the MoU is the establishment of a genomic centre of excellence.

The Indian healthcare sector is estimated to be worth $372 billion USD. Affordability of treatment, advanced technology, a diverse range of specialties and access to international markets have all accelerated the growth of this industry.

As the world's most populous country, India has prioritised affordable, accessible and increasingly innovative healthcare, aided by increased public health spending year after year.