UAE Signals Another $25 Billion Investment in India

The United Arab Emirates has indicated it intends to invest an additional $25 billion in India in the near future, Indian Commerce and Industry Minister Piyush Goyal said after a bilateral investment meeting in Mumbai on September 28. The figure represents a stated intention, not a confirmed package of projects or a completed investment, and no timetable or project details were provided. Goyal said the UAE had already invested about $25 billion in India and has a longer-term objective of raising its investments there to $100 billion. His remarks followed the 14th meeting of the India-UAE High Level Joint Task Force on Investments, which he co-chaired with Sheikh Hamed bin Zayed Al Nahyan, managing director of the Abu Dhabi Investment Authority. UAE Foreign Trade Minister Thani bin Al Zeyoudi also attended, according to one account. Energy cooperation featured in the discussions. Goyal said the countries were exploring increased UAE gas supplies and cooperation on India’s strategic petroleum reserves. A study is examining the feasibility of subsea gas pipelines, but the proposal remains under study rather than a confirmed construction project.