UAE Signals Another $25 Billion Investment In India, Says Goyal

The United Arab Emirates has conveyed an intent to invest another $25 billion in India in the near future, Union Commerce and Industry Minister Piyush Goyal said on Monday (September 28, 2026), after the two sides reviewed a wider investment agenda spanning ports, shipbuilding, energy security, space technology and financial services.

Mr. Goyal made the remarks after co-chairing the 14th India-UAE High-Level Joint Task Force on Investments with Abu Dhabi Investment Authority Managing Director Sheikh Hamed bin Zayed Al Nahyan.

He said the UAE has already invested around $25 billion in India and has a longer-term objective of raising its investments in the country to $100 billion.

“The UAE believes in India and is one of our largest foreign direct investment sources of capital,” Mr. Goyal said.

“They have already invested $25 billion and are the seventh-largest source of FDI. They have also given intent to invest another $25 billion in the near future,” Mr. Goyal said.

Investment task force reviews trade, taxation and local currency use

The discussions at the task force meeting covered investments, trade facilitation, taxation, logistics, energy, market access and financial cooperation, including the use of local currencies for bilateral trade.

Mr. Goyal said the India-UAE mechanism was also being used to address problems faced by investors from both countries.

He said it was also being used to take up issues relating to the implementation of the India-UAE Comprehensive Economic Partnership Agreement (CEPA).

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 additional investment intent therefore comes as the two countries are seeking to deepen both capital flows and trade links under the same broader economic partnership.

Mr. Goyal pointed to recent investments by UAE entities as evidence of growing investor interest in India.

These included Emirates NBD’s acquisition of a majority stake in RBL Bank and International Holding Company’s investment in Sammaan Capital.

Emirates NBD completed its investment of around $2.75 billion in RBL Bank in June after securing regulatory approvals.

International Holding Company has committed around $1 billion to acquire a controlling stake in Sammaan Capital.

Maritime working group to cover six areas

A major outcome of Monday’s discussions was an agreement to establish a bilateral working group on maritime cooperation.

The working group will cover six areas: ship ownership, development of modern ports, ship manufacturing, repair and maintenance, ship breaking and container manufacturing.

“They are looking at ports, they are looking at shipbuilding, they are looking at greater investments in space and our startups,” Mr. Goyal said.

He added that UAE investors were also interested in India’s stock markets.

Mr. Goyal said India’s port capacity had doubled over the past decade and would need to double again over the next 10 years as the economy expands.

He said UAE investors could participate in new ports as well as the expansion of existing facilities.

He specifically referred to the upcoming Vadhavan port in Maharashtra and port projects along India’s eastern and western coasts.

“I think there is tremendous potential for mutual cooperation between UAE and India,” he said.

The maritime focus links the UAE’s stated interest in ports and shipbuilding with India’s projection that port capacity will have to expand further over the next 10 years.

Energy security, LNG and subsea pipeline study

Energy security was another major area discussed by the two sides.

Mr. Goyal said India was working with the UAE on expanding strategic petroleum reserves in the country, with studies currently underway.

“We’ll be seeing significant ramp-up of investments from UAE in this area,” he said.

India is also exploring increased supplies of LNG and other gases from the UAE, Mr. Goyal said.

A study is examining the feasibility of subsea pipelines that could transport gas to India, Mr. Goyal said.

The proposals come against the backdrop of heightened geopolitical uncertainty in West Asia and pressure on global energy and shipping routes.

Mr. Goyal, however, said geopolitical and strategic issues themselves were not discussed by the investment task force.

That distinction is significant because the meeting covered energy security and shipping-related investment areas while not taking up geopolitical and strategic issues themselves, according to Mr. Goyal.

Space, AI, fintech and food security on agenda

The two sides also discussed expanding cooperation in artificial intelligence, emerging technologies, fintech, food security and agri-innovation.

In space technology, India and the UAE are exploring greater investment and cooperation involving startups.

This includes companies working on technologies related to orbital debris.

In fintech, discussions included using India’s digital payments capabilities alongside artificial intelligence and cybersecurity to expand financial services cooperation.

Mr. Goyal also said greater cooperation in food processing, packaging, quality control and branding could help Indian farmers and MSMEs increase exports of food and marine products.

He said such exports could go to the Gulf and other international markets.

The agenda therefore extended beyond large infrastructure and energy projects to sectors linked to startups, digital payments, cybersecurity, food exports and agri-innovation.

Mr. Goyal’s comments also connected the investment dialogue with the export prospects of Indian farmers and MSMEs.

Export target and free-trade agreement push

On India’s broader export performance, Mr. Goyal said merchandise exports had grown by more than 15% in the current financial year up to September 21.

He described the figure as an “informal data point” ahead of the release of final official numbers next month.

India recorded exports of goods and services worth around $863 billion last year, Mr. Goyal said.

He said India has set a target of reaching $1 trillion this year.

Mr. Goyal also highlighted the role of India’s expanding network of free-trade agreements.

He said agreements with developed economies were intended to provide Indian farmers, fishermen, MSMEs and manufacturers preferential access to larger overseas markets.

The export references placed the India-UAE investment discussions within a wider policy emphasis on market access, trade expansion and preferential access through free-trade agreements.

The India-UAE CEPA also formed part of the task force’s work, as Mr. Goyal said the mechanism was addressing issues relating to its implementation.

Civil aviation discussed separately by relevant ministries

Civil aviation was not a main focus of Monday’s investment task force meeting, Mr. Goyal said.

He said discussions between India’s relevant ministries and the UAE continued to improve cooperation and business opportunities in the sector.

The minister said the breadth of discussions reflected the expanding economic relationship between the two countries.

He noted that Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan had met four times over the past year.

The meeting’s agenda showed that India and the UAE are seeking cooperation across financial services, ports, shipbuilding, energy, space, fintech, food security, agri-innovation and market access.

The UAE’s indicated additional $25 billion investment intent, its existing around $25 billion investment in India and the longer-term objective of reaching $100 billion together framed the scale of the investment relationship described by Mr. Goyal.

Published - September 29, 2026 03:00 am IST.

Source: The Hindu