The United Arab Emirates is looking to invest an additional USD 25 billion in India in the near future, while both countries are working to double bilateral trade to USD 200 billion by 2032, Commerce and Industry Minister Piyush Goyal said on Monday.
Goyal made the remarks after the 14th meeting of the India-UAE High Level Joint Task Force on Investments (HLJTFI) in Mumbai. Sheik Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA), co-chaired the meeting.
According to Goyal, the UAE had invested about USD 25 billion in India and was the seventh-largest source of FDI in the country. The UAE's target was USD 100 billion in India, with another USD 25 billion expected in the near future.
The talks focused on accelerating economic collaboration and investment, as well as developing robust supply chain links, under the India-UAE CEPA.
Two-way trade between the two nations stood at USD 101.25 billion in FY 2025-26, whereas non-oil trade amounted to USD 76.2 billion in 2025.
Energy cooperation was a key topic discussed during the visit. India explored the possibility of acquiring LNG and LPG from the UAE and also looked at ways to expand its strategic petroleum reserves.
ISPRL and ADNOC entered into an agreement under which the UAE would store up to 30 million barrels of crude in India's strategic petroleum reserves. Possible sites include Visakhapatnam in Andhra Pradesh and Chandikhol in Odisha.
India and the UAE are also exploring storing some of India’s strategic crude reserves in Fujairah, one of the UAE's main oil hubs, located beyond the Strait of Hormuz.
Goyal said India would need to double its port capacity over the next decade to support economic growth, creating opportunities for UAE investment in new and expanded ports.
Vadhavan in Maharashtra and port development along India’s eastern and western coasts emerged as potential areas for cooperation. Six maritime areas were identified for deeper collaboration: ship ownership, modern ports, ship manufacturing, ship repair and maintenance, shipbreaking and container manufacturing.
The two countries also discussed civil aviation cooperation and investment opportunities for an aviation and logistics hub in Dholera, Gujarat.
Recent UAE-linked investments discussed at the meeting included Emirates NBD’s approximately USD 3 billion acquisition of a majority stake in RBL Bank, International Holding Company’s USD 1 billion investment in Sammaan Capital, and a joint investment intent of USD 11.5 billion for an integrated aluminum complex in Odisha.
Other areas identified for increased investment include energy, logistics, infrastructure, technology, artificial intelligence, space, food security, agricultural innovation and startups.
India recorded USD 863 billion in goods and services exports last year and set a target of USD 1 trillion this year. Merchandise exports increased by more than 15 percent during the first six months of FY 2026-27, up to September 21, Goyal said.
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The two sides reviewed the CEPA, now four years old, with discussions focused on reducing trade barriers, opening new sectors and strengthening resilience.
The central banks of India and the UAE are also working on local-currency settlement, integration of payment and messaging systems, and central-bank digital currencies. Both sides agreed to support timely implementation of these initiatives.
It was also noted that the UAE-India Fast Track Mechanism played an important role in resolving pending issues related to investment and companies from both countries.
The current interaction is part of the follow-up to the visits of Indian Prime Minister Narendra Modi to the UAE in May 2026 and Crown Prince of Abu Dhabi Sheikh Khaled bin Mohammed bin Zayed Al Nahyan to India in September 2026.