The United Arab Emirates has expressed its intent to invest another $25 billion in India, with the broader goal of taking its total investments in the country to $100 billion in the coming years, according to Union Commerce and Industry Minister Piyush Goyal.
The proposed investments could cover ports, shipbuilding, space, logistics, energy, Indian startups and the stock market. India and the UAE are also exploring deeper cooperation in shipping, including ship ownership, port development, ship manufacturing, repair and maintenance, ship breaking and container manufacturing.
The UAE has already invested around $25 billion in India and is currently the country’s seventh-largest source of foreign direct investment, according to Goyal.
The two countries are also discussing cooperation in energy security, including strategic petroleum reserves, LPG and LNG supplies, and subsea pipelines. Port development is another major area, with potential cooperation across projects on India’s eastern and western coasts.
The latest discussions also covered space technology, food security, agri-innovation, artificial intelligence, emerging technologies and fintech.
