The United Arab Emirates has signaled its intent to invest an additional $25 billion in India in the near future, according to Union Commerce and Industry Minister Piyush Goyal. The announcement came on Monday, September 28, 2026, following a high-level meeting aimed at deepening economic ties between the two nations.
Mr. Goyal stated that the two countries agreed to enhance cooperation across several key sectors, including ports, shipbuilding, energy security, space technology, and financial services, according to The Hindu. He made these remarks after co-chairing the 14th India-UAE High-Level Joint Task Force on Investments with Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority.
The additional investment builds on existing financial commitments. The UAE has already invested approximately $25 billion in India and aims to increase its total investments in the country to $100 billion over the longer term, Mr. Goyal said, as reported by The Hindu. He described the UAE as one of India's largest sources of foreign direct investment, noting it is currently the seventh-largest.
"The UAE believes in India and is one of our largest foreign direct investment sources of capital. 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, according to The Hindu.
Beyond investments, India and the UAE have set an ambitious target to double their bilateral trade to $200 billion by 2032. This goal was established earlier this year after trade between the two nations reached around $100 billion, according to The Hindu and Business Standard.
The discussions at the task force meeting encompassed a wide range of topics, including investments, trade facilitation, taxation, logistics, energy, market access, and financial cooperation. A significant point of discussion was the use of local currencies for bilateral trade, according to The Hindu.
Mr. Goyal highlighted recent investments by UAE entities as evidence of growing interest. These include Emirates NBD's acquisition of a majority stake in RBL Bank, a transaction valued at approximately $2.75 billion, which was completed in June after receiving regulatory approvals. Additionally, International Holding Company (IHC) has committed about $1 billion to acquire a controlling stake in Sammaan Capital, The Hindu reported.
A key outcome of Monday's discussions was an agreement to establish a bilateral working group focused on maritime cooperation. This group will address six specific areas: ship ownership, the development of modern ports, ship manufacturing, repair and maintenance, ship breaking, and container manufacturing, according to The Hindu.
Mr. Goyal noted that India's port capacity has doubled over the past decade and will need to double again in the next 10 years to support the country's economic expansion. He suggested that UAE investors could participate in new port projects, such as the upcoming Vadhavan port in Maharashtra, and the expansion of existing facilities along India's eastern and western coasts, The Hindu reported.
Energy security was another major area of focus. India is collaborating with the UAE on expanding strategic petroleum reserves within India, with studies currently underway. "We’ll be seeing significant ramp-up of investments from UAE in this area," Mr. Goyal stated, according to The Hindu.
India is also exploring increased supplies of Liquefied Natural Gas (LNG) and other gases from the UAE. A study is examining the feasibility of subsea pipelines that could transport gas directly to India, The Hindu reported. These energy proposals are being considered against a backdrop of heightened geopolitical uncertainty in West Asia and pressures on global energy and shipping routes, although Mr. Goyal clarified that geopolitical and strategic issues themselves were not discussed by the investment task force.
The breadth of discussions reflects the expanding economic relationship between the two countries, Mr. Goyal noted, pointing out that Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan have met four times over the past year, according to The Hindu.
The task force also discussed expanding cooperation in emerging technologies, including artificial intelligence, fintech, food security, and agri-innovation. In space technology, India and the UAE are exploring greater investment and cooperation involving startups, including companies working on technologies related to orbital debris, The Hindu reported.
For fintech, discussions included leveraging India's digital payments capabilities alongside artificial intelligence and cybersecurity to expand financial services cooperation. Mr. Goyal also suggested that enhanced cooperation in food processing, packaging, quality control, and branding could help Indian farmers and Micro, Small, and Medium Enterprises (MSMEs) increase exports of food and marine products to the Gulf and other international markets, according to The Hindu.
Regarding India's broader export performance, Mr. Goyal provided an "informal data point" ahead of the release of official numbers next month, stating that merchandise exports had grown by more than 15% in the current financial year up to September 21. India recorded exports of goods and services worth approximately $863 billion last year and has set a target of reaching $1 trillion this year, he added, according to The Hindu.
Mr. Goyal also highlighted the role of India's expanding network of free-trade agreements (FTAs). He said that agreements with developed economies are intended to provide Indian farmers, fishermen, MSMEs, and manufacturers preferential access to larger overseas markets, The Hindu reported.
While civil aviation was not a primary focus of Monday's investment task force meeting, discussions between India's relevant ministries and the UAE are ongoing to improve cooperation and business opportunities in that sector, according to Mr. Goyal, as reported by The Hindu.
