UAE Plans Additional $25 Billion Investment in India’s Energy Sector
The UAE aims to invest $25 billion in India, focusing on energy and infrastructure, as part of a broader economic partnership.
UAE's total investment in India could reach $100 billion in the long term.
Bilateral trade between India and UAE has doubled to $100 billion since the CEPA agreement.
Discussions included enhancing cooperation in energy, logistics, and advanced technology.
The United Arab Emirates has announced plans to invest an additional $25 billion in India, particularly in the energy sector, as stated by Indian Commerce and Industry Minister Piyush Goyal during a high-level meeting in Mumbai. This investment is part of ongoing efforts to strengthen economic ties between the two nations.
This new commitment follows the UAE's previous investment of approximately $25 billion in India. Minister Goyal highlighted that the UAE aims for a total investment of $100 billion in India over the long term. The announcement was made during the 14th Meeting of the India-UAE High Level Joint Task Force on Investments, co-chaired by Sheikh Hamed bin Zayed Al Nahyan of the Abu Dhabi Investment Authority (ADIA).
During the meeting, Minister Goyal emphasized the productive discussions aimed at enhancing the trade and investment partnership between India and the UAE. The focus areas include energy, infrastructure, logistics, advanced technology, and food security. Both parties are keen on leveraging the Comprehensive Economic Partnership Agreement (CEPA), which has been pivotal in driving trade and investment, and building resilient supply chains.
Since the signing of the CEPA four years ago, bilateral trade between India and the UAE has surged to $100 billion, with plans to double this figure to $200 billion by 2032. This growth reflects the strengthening economic relationship and mutual benefits derived from increased cooperation.
Earlier this year, India secured a strategic agreement with the UAE for liquefied petroleum gas supply and established a Memorandum of Understanding on strategic petroleum reserves. This agreement was signed by Prime Minister Narendra Modi during a brief visit to the UAE in May, aimed at alleviating energy supply pressures faced by India. The UAE's commitment to further investment underscores the importance of this partnership in addressing energy needs and enhancing economic collaboration.
