UAE plans $25 bn more investment in India

NEW DELHI: Union Commerce and Industry Minister Piyush Goyal said the UAE plans to increase its investments in India, expressing its intention to invest an additional USD 25 billion soon, as both countries aim to double bilateral trade to USD 200 billion by 2032.

Addressing the 14th meeting of the India-UAE High-Level Joint Task Force on Investments, Goyal stated that the two countries aim to enhance collaboration in areas such as ports, shipbuilding, space, food security, logistics, fintech, artificial intelligence and new technologies.

Goyal highlighted that the UAE has invested USD 25 billion in India and ranks as the seventh-largest source of foreign direct investment in the country. Both sides are working towards a future UAE investment target of USD 100 billion in India.

The Minister stated that the India-UAE Comprehensive Economic Partnership Agreement (CEPA), now four years old, has contributed to doubling bilateral trade to USD 100 billion. The two countries aim to increase bilateral trade further to USD 200 billion by 2032.

Goyal mentioned that the UAE is exploring investment opportunities in ports, shipbuilding, space, Indian startups, and the country’s stock market. He stated that India provided stability and certainty during a period when the global economy was facing geopolitical challenges.

The two countries also intend to create working groups focused on six aspects of the shipping industry: vessel ownership, modern port development, shipbuilding, maintenance and repair, ship dismantling, and container production.

Goyal stated that India must double its port capacity over the next decade to support the country’s development, with the UAE expected to play a significant role as an investor in new and expanded ports. He mentioned initiatives such as Vadhavan in Maharashtra and port development along India’s eastern and western coasts as opportunities for collaboration.

On exports, Goyal noted that India achieved USD 863 billion in goods and services exports last year and aims to reach USD 1 trillion this year. He added that merchandise exports had increased by more than 15 percent in the first six months of the financial year 2026-27, up to September 21.

Furthermore, he added that India and the UAE are seeking to enhance collaboration on energy security, including strategic petroleum reserves and the potential for the UAE to become a larger supplier of LPG and LNG to India.