PM Modi, UAE Crown Prince discuss new sovereign fund L'Imad, strategic cooperation; Malaysia ties reviewed

On the sidelines of the BRICS Summit, Prime Minister Narendra Modi conversed with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed about the potential contributions of L Imad, the UAE's newly established sovereign investment fund, to bolstering India-UAE ties, according to an official report. The leaders explored prospects for strengthening cooperation in strategic and emerging sectors, encompassing defense, space, nuclear energy, technology, and innovation.

The UAE's International Holding Company's decision to invest $11.5 billion in the construction of an integrated greenfield aluminium project in Odisha was positively acknowledged by both leaders, as per a statement. The two leaders reconfirmed the significance of the India-UAE Comprehensive Strategic Partnership, recalling the recent successful visits of UAE President Mohamed bin Zayed Al Nahyan to India in January 2026 and Modi to the UAE in May 2026.

During a separate bilateral meeting at the 18th BRICS Summit, Prime Minister Modi engaged with Malaysia's Prime Minister Anwar bin Ibrahim. The pair reviewed the outcomes of Modi's February 2026 visit to Malaysia, assessing progress in bilateral cooperation across various domains, including trade and investment, defense and security, semiconductors, infrastructure, digital economy, energy, fintech, education, tourism, and people-to-people connections.

Malaysia was highlighted as one of the BRICS partner nations. Ibrahim expressed Malaysia's agreement to the formation of the Consulate General of India in Kota Kinabalu, Sabah. The two leaders also discussed expanding cooperation in strategic sectors, notably the semiconductor industry, recognizing Malaysia's complementary strengths that can be leveraged through industrial collaboration, supply chain integration, human resource development, and cross-border investments.