Amanze Chinonye
The United Arab Emirates (UAE) plans to invest an additional $25 billion in India in the near future, Indian Commerce and Industry Minister Piyush Goyal said on Monday, as the two countries seek to double bilateral trade to $200 billion by 2032.
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Goyal made the disclosure after the 14th meeting of the India-UAE High Level Joint Task Force on Investments, which he co-chaired with Sheikh Hamed bin Zayed Al Nahyan, managing director of the Abu Dhabi Investment Authority.
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The UAE has already invested about $25 billion in India and is the country’s seventh-largest source of foreign direct investment, Goyal said. The two sides are working towards a longer-term UAE investment target of $100 billion, with the latest $25 billion described as investment intent rather than completed investment.
Bilateral trade reached $101.25 billion in the 2025-26 financial year, while non-oil trade stood at $76.2 billion in 2025. The countries are seeking to build on their Comprehensive Economic Partnership Agreement, which has been in force for four years, to expand market access, investment and supply-chain cooperation.
The task force reviewed several investment projects, including a food park in Gujarat, as well as recent UAE-linked investments. These include Emirates NBD’s roughly $3 billion acquisition of a majority stake in RBL Bank, International Holding Company’s $1 billion investment in Sammaan Capital and a joint investment intent of $11.5 billion for an integrated aluminium complex in Odisha.
The UAE is exploring opportunities in Indian ports, shipbuilding, space, startups and financial markets, while Indian companies are seeking opportunities in the UAE across energy, infrastructure, logistics, advanced technology and food security. An Invest India office in the UAE is expected to become operational before the end of 2026.
Energy security was a major focus of the discussions, with India exploring a greater role for the UAE as a supplier of liquefied natural gas and liquefied petroleum gas. The two countries are also examining arrangements for strategic crude storage in the UAE and greater UAE participation in India’s strategic petroleum reserves.
Under an agreement between Indian Strategic Petroleum Reserves Ltd and Abu Dhabi National Oil Company, the UAE could store up to 30 million barrels of crude in India’s strategic petroleum reserve facilities at Visakhapatnam and Chandikhol. The two sides are also examining the possibility of storing part of India’s strategic reserves in Fujairah, a major UAE oil hub outside the Strait of Hormuz.
Maritime infrastructure is another area of expanding cooperation. Goyal said India would need to double its port capacity over the next decade, creating opportunities for UAE investment in new and expanded facilities, including the Vadhavan port project in Maharashtra and developments along India’s eastern and western coasts.
The countries identified six areas for deeper maritime cooperation: ship ownership, modern port development, shipbuilding, ship repair and maintenance, shipbreaking and container manufacturing. A bilateral working group will oversee the cooperation, with India’s Ministry of Ports, Shipping and Waterways leading the engagement.
The two sides also discussed civil aviation, including efforts to strengthen air connectivity and potential UAE investment in an aviation and logistics hub at Dholera in Gujarat.
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Financial cooperation was also reviewed, including efforts by the two central banks to expand local-currency settlements, integrate payment and messaging systems and develop cooperation involving central-bank digital currencies. Trade settled in the two countries’ currencies has reached double-digit levels, Goyal said.
The task force, established in 2013, also reviewed the UAE-India Fast Track Mechanism for resolving issues affecting companies and investments on both sides. Officials agreed to accelerate the resolution of outstanding matters.
The latest talks follow Indian Prime Minister Narendra Modi’s visit to the UAE in May and the September visit to India by Abu Dhabi Crown Prince Sheikh Khaled bin Mohammed bin Zayed Al Nahyan, reflecting the broader expansion of economic, investment and energy ties between the two countries.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
