UAE Eyes Major Investments In India’s High-Tech And Startup Sectors

Union Minister of Commerce and Industry Piyush Goyal stated on Friday that the United Arab Emirates (UAE) is keen to deepen investments in India's high-tech sectors, opening avenues for bilateral collaboration. Speaking to the media after concluding a two-day visit, Goyal highlighted the UAE's emergence as a global investment hub, attracting businesses from Africa, the Middle East, and Central Europe. He emphasised India's intent to leverage this position to accelerate economic ties, particularly in areas like data centres, technology, banking, startups, and logistics.

Goyal, accompanied by a delegation of 75 industry leaders, held high-level meetings with UAE officials and the Indian diaspora, fostering discussions on expanding trade and investment. He noted the UAE's ranking among India's top five or six foreign direct investment (FDI) sources but anticipated a surge in capital inflows. "Investors in the UAE are smart enough to recognise that India is an opportunity not to be missed," Goyal said, projecting growth in both FDI and foreign institutional investment (FII). This aligns with the Comprehensive Economic Partnership Agreement (CEPA) signed in 2022, which has already boosted bilateral trade to $85 billion in FY 2023-24, with non-oil trade reaching $37 billion.

A key highlight was the proposed Bharat Mart project, an export promotion platform in Dubai designed to empower Indian small and medium enterprises (SMEs) as global exporters. Goyal revealed that over 9,000 companies have expressed interest in participating, underscoring its potential to scale local businesses amid India's push for diversified exports. The initiative complements the UAE's focus on infrastructure and the digital economy, where Indian firms could find synergies in supply chains.

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The visit reinforces the strategic India-UAE partnership, valued at over $100 billion in cumulative investments since 2000, with UAE sovereign funds like Mubadala actively eyeing Indian tech unicorns and infrastructure. As global supply chains realign, Goyal's engagements signal a maturing economic corridor, potentially enhancing India's position in the Gulf's innovation ecosystem while addressing the UAE's diversification beyond oil.

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