Business
UAE signals another $25 billion India investment
Business Standard··28 Sept
Commerce Minister Piyush Goyal said the UAE signalled intent to invest another $25 billion in India after chairing the 14th India-UAE investment task force. The UAE has already invested $25 billion and ranks as India's seventh-largest FDI source. Bilateral trade crossed $100 billion last year, with a plan to double it by 2032. Goyal said trade is near pre-war levels.
Prism
What It Means For You
- A further $25 billion UAE investment signal follows an existing $25 billion stock of FDI.
- Talks covered ports, shipping, energy, space, logistics, food security and AI.
- Local-currency trade settlement is in double digits and rising, Goyal said.
What's Happening
- Goyal chaired the joint task force with UAE Foreign Trade Minister Thani bin Ahmed Al Zeyoudi present.
- Sheikh Hamed bin Zayed Al Nahyan of ADIA was in the UAE delegation.
- India-UAE CEPA, in force since May 2022, is now four years old per Goyal.
Trade and energy tracks
- India's goods and services exports rose 15 percent in the first six months of FY27, Goyal said.
- Both sides are working on strategic petroleum reserves, LPG supplies and a study of undersea gas pipelines.
- Four Modi-MBZ meetings over two years were cited as a political backdrop.
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