Prime Minister Modi, who is on his second visit to the UAE, held wide-ranging talks with and Mohammed Bin Zayed.
After their talks, the two sides signed five agreements related to energy sector, railways, manpower and financial services.
An MOU between Indian Consortium (OVL, BPRL & IOCL) and Abu Dhabi National Oil Company (ADNOC) was signed for the acquisition of a 10 per cent participating interest in the Abu Dhabi's offshore Lower Zakum Concession, a statement issued by the Indian embassy here said.
The Prime Minister will hold talks with top leadership of the Gulf nation and witness signing of nearly a dozen agreements to bolster political and economic ties. On Sunday, the prime minister will go to Dubai where he will watch the live streaming of a Hindu temple inauguration ceremony and then address the Indian community gathered at the Opera House.
"The first Hindu temple in Abu Dhabi will come up on 55,000 square metres of land and the groundbreaking ceremony on Sunday will be a historic event," said Indian Ambassador to the UAE Navdeep Singh Suri.
The Indian Prime Minister will flag off laying of the temple's foundation stone during the community event. "On Sunday, you will see a groundbreaking ceremony, which is going to be live-streamed into Dubai Opera House. It's going to be tradition meeting technology," Suri said.
The UAE is home to over three million people of Indian origin.
He will proceed to the venue of the World Government Summit where he will deliver a keynote address.
The investment from the UAE to India exceeds USD 11 billion.