India wants investments from Abu Dhabi

India has called on Abu Dhabi Investment Authority and sovereign investor Mubadala to invest in renewable and digital sectors in India. Secretary in the Department for Promotion of Industry and Internal Trade Rajesh Kumar Singh held meetings with the senior leadership of the two entities in the UAE. Singh invited both companies to explore new sectors for investing in India, welcoming the surge in investments from the UAE to India.

Currently, the UAE is the seventh largest investor in India, with an estimated investment of USD 18 billion. Singh and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeoudi jointly inaugurated events to commemorate the first anniversary of the entry into force of the Comprehensive Economic Partnership Agreement between India and the UAE. After the implementation of the free trade agreement, bilateral trade has witnessed a 20 percent growth.

Singh also inaugurated the Kerala Pavilion at the Annual Investment Meeting in Abu Dhabi. On Tuesday, he will inaugurate the International Jewellery Exposition Centre in Dubai. He will also be the chief guest at an event organized by the Gems and Jewellery Export Promotion Council, in which around 100 companies from India and UAE, including representatives of various export promotion councils, are expected to participate.

India’s exports to the UAE rose 12 percent to USD 31.3 billion in 2022-2023. The ministry of commerce and industry said that it hopes to attract more investment from the UAE, especially in the renewable and digital sectors.