UAE signals another $25 billion investment in India; eyes ports, energy and space sectors: Goyal
India and the UAE have set a target of doubling bilateral trade to $200 billion by 2032 after trade reached around $100 billion. The target was agreed by the two countries earlier this year.
The United Arab Emirates has pledged another $25 billion in investment in India, aiming to expand its presence in ports, energy, space, and financial services sectors, Union Commerce and Industry Minister Piyush Goyal announced on Monday. Following a meeting to co-chair the 14th India-UAE High-Level Joint Task Force on Investments, Goyal stated that the UAE currently holds the seventh-largest position among foreign direct investors in India, having already committed $25 billion.
The UAE is targeting a $100 billion investment in India in the near future, bringing its total investment to $100 billion. Joint discussions covered trade facilitation, taxation, logistics, market access, financial cooperation, and addressing investors' concerns related to the Comprehensive Economic Partnership Agreement (CEPA).
Both countries aim to double bilateral trade to $200 billion by 2032, with recent investments in companies such as Emirates NBD and IHC highlighting growing interest. The UAE is keen on participating in India's port projects and expanding its energy security through increased supplies of LNG and subsea pipelines. Discussions also touched on artificial intelligence, fintech, food security, and space technology cooperation, with both sides focusing on startups in these fields.
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