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UAE Investors Eye Diverse Indian Sectors

2023-10-06

Commerce and Industry Minister Piyush Goyal, during the 11th India-UAE High-Level Task Force on Investments meeting in Abu Dhabi, revealed the strong interest of UAE investors in various sectors in India. These sectors include clean energy, infrastructure, education, healthcare, food processing, and financial services.

Goyal emphasised the potential in India's airline sector, particularly in light of New Delhi's focus on travel and tourism. UAE companies are also expressing significant interest in financial services. Goyal expressed optimism about the increasing flow of investments in public markets, manufacturing, and services.

Key sectors expected to attract investments include pharmaceuticals, roads, highways, ports, clean energy, green hydrogen, solar and wind energy, as well as innovation in the petroleum and petrochemical sectors. The UAE has been a substantial source of Foreign Direct Investment (FDI) for India, with USD 16 billion received between April 2000 and June 2023, and the UAE Sovereign Wealth Funds have invested over USD 10 billion in India from 2020 to 2022. The UAE has also committed to a significant USD 75 billion investment in India's infrastructure.