Over the next few years, the Dubai’s oil-rich Sheikhdom is expected to invest a whopping $100 billion in India said Indian Commerce and Industry Minister Piyush Goyal. The sectors that can hope for huge investments include renewable energy sector, power transmission projects, data centre and artificial intelligence (AI).
Addressing the media during the 12th session of the India-UAE high-level joint task force on investments in Mumbai Goyal listed current investment efforts and future potential in manufacturing and other fields. At the moment, the total of direct equity investments of UAE is slightly under $20 billion while the investment in India during the last fiscal was $3 billion.
Indeed, the UAE is Indian’s seventh-largest investor, and it has tripled its yearly investments in the past five years. Both nations are expanding on the CEPA to identify further opportunities; the UAE provides free-of-cost sites for endeavours in investment, trade, technology, and tourism.
Goyal also announced the education proposals that signaled the Indian Institute of Foreign Trade to open a campus in Dubai next year and deepen the educational cooperation more. Furthermore, India’s UPI system that was launched recently for integrating payments is now working jointly with the UAE known as AANI.
However, regarding global crises, Goyal spoke confidently of the India-UAE relationship which still remains unblemished and continues to grow as both countries wok towards achieving growth on their economic front.
