Abu Dhabi [UAE]: The United Arab Emirates is looking to invest an additional USD 25 billion in India in the near future, while the two countries are working to double bilateral trade to USD 200 billion by 2032, Commerce and Industry Minister Piyush Goyal said on Monday.
Addressing the media after the 14th meeting of the India-UAE High-Level Joint Task Force on Investments, Goyal said the two countries were also exploring deeper cooperation in energy, including greater supplies of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) from the UAE and expansion of strategic petroleum reserves.
The meet was co-chaired by Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA). Discussions focused on accelerating the economic partnership and leveraging the CEPA framework to expand investment and build resilient supply chains.
The UAE has already invested around USD 25 billion in India and is the country’s seventh-largest source of foreign direct investment. The two sides are working towards an eventual target of USD 100 billion in UAE investments in India.
Goyal said the investment pipeline covers sectors such as ports, shipbuilding, space, startups, food security, logistics, fintech, artificial intelligence, emerging technologies and India’s stock market.
Bilateral trade target of $200 billion
The minister said the India-UAE Comprehensive Economic Partnership Agreement (CEPA), which has completed four years, has helped bilateral trade reach around USD 100 billion. The two countries have now set a target of doubling bilateral trade to USD 200 billion by 2032.
India recorded USD 863 billion in goods and services exports last year and has set a target of reaching USD 1 trillion in exports this year, Goyal said. Merchandise exports, he added, increased by more than 15 per cent during the first six months of financial year 2026-27 through September 21.
The two sides are also seeking to expand local-currency trade, which Goyal said was already in double digits.
UAE emerges as potential LNG and LPG partner
Energy security has emerged as another important area of India-UAE cooperation.
Goyal said India was exploring the possibility of using the UAE as a key source of LNG and LPG, while working with Abu Dhabi on expanding strategic petroleum reserves.
The discussions build on agreements announced during Prime Minister Narendra Modi’s visit to the UAE in May 2026, when the two countries outlined plans for cooperation in crude oil storage, strategic reserves, LNG and LPG infrastructure and long-term LPG supply arrangements.
Under a strategic agreement between Indian Strategic Petroleum Reserves Ltd (ISPRL) and Abu Dhabi National Oil Company (ADNOC), the UAE could store up to 30 million barrels of crude oil in India’s strategic petroleum reserve facilities.
The proposed arrangement includes potential participation in storage facilities at Visakhapatnam in Andhra Pradesh and Chandikhol in Odisha.
India and the UAE are also examining the possibility of storing part of India’s strategic crude reserves in Fujairah, a major UAE oil hub outside the Strait of Hormuz. Such an arrangement could provide additional flexibility in managing inventories and strengthen supply-chain resilience during periods of geopolitical uncertainty.
Focus on ports and maritime cooperation
Goyal said India would need to double its port capacity over the next decade to support economic growth and that the UAE could become an important investor in new and expanded port infrastructure.
The Vadhavan Port in Maharashtra, along with port development projects on India’s eastern and western coasts, offers opportunities for cooperation, he said.
India and the UAE have identified six areas for deeper maritime cooperation: ship ownership, modern port development, ship manufacturing, ship repair and maintenance, shipbreaking and container manufacturing.
A working group covering these areas is expected to be established, with India’s Ministry of Ports, Shipping and Waterways leading the engagement from the Indian side.
UAE investors eye diverse opportunities in India
Goyal said the UAE was examining investment opportunities in India’s space sector, startups, ports and shipbuilding, besides the country’s stock market.
He said India’s economic growth trajectory, stability and predictability offered opportunities for UAE investors at a time when the global economy was facing geopolitical uncertainties.
The minister also highlighted the role of the CEPA in expanding trade, investment and resilient supply chains between the two countries.
During his engagements, Goyal met UAE Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi to review progress under the CEPA and discuss new avenues for strengthening the trade and investment partnership.
[DD News]