UAE firms keen to invest in Indian banking, startups, logistics sectors: Piyush Goyal
The two countries have reset their targets and are actively working to increase investments rapidly in different sectors, and enhance collaborations in areas such as renewable energy, shipbuilding, retail, and pharmaceuticals.
The UAE companies are looking at multiple sectors, such as infrastructure, data centres, banking, startups and logistics, in India to increase their investments, Commerce and Industry Minister Piyush Goyal said on Friday.
He said that the two countries have reset their targets and are actively working to increase investments rapidly in different sectors, and enhance collaborations in areas such as renewable energy, shipbuilding, retail, and pharmaceuticals.
Infrastructure is one of the major sectors where they (UAE) can see huge potential. There was a lot of interest in the banking sector and startups. The interest of potential investors is also in the logistics ecosystem in India and green energy. The UAE is keen to look at investments, Goyal told reporters here.
The minister was here for the 13th India-UAE High-Level Joint Task Force on Investments. The two-day visit concluded on September 19. He was leading a 75-member business delegation.
There are many ways through which India can increase collaborations with companies in the UAE, he said, adding the UAE's strength in investments is unparalleled.
Now the UAE is also investing deeply in high-tech areas, so we could even be looking at serious collaborations in technology sectors, he said.
He added that bankers are finding it increasingly attractive to expand their operations in India.
One banker who met me is very keen to set up a new operation in GIFT city, he said, adding, while the UAE is already among the top 5-6 investors in India, my sense is that we can look at a much larger investment flow given the work that has happened in India.
The UAE recognises India as a key investment destination, the minister said.
"I think we will be looking at much larger pools of capital coming into India, both FDI and FII," he said.
On Bharat Mart, he said the UAE has allocated land and soon construction will start, and it may be ready in 2027.
About 9,000 companies have shown an expression of interest in this.
India has received USD 24 billion in FDI from the UAE during April 2000 and June 2025.
Goyal engaged with CEOs of prominent Indian and UAE companies during the UAE-India Business Council (UIBC) Roundtable, which he co-chaired alongside Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, UAE.
Progress on key cornerstone projects like Bharat Mart and India UAE Friendship Hospital was also discussed during the meetings.
Both leaders invited businesses to explore opportunities in India and in the UAE, and also widen their scope and ambition to other regions, such as Africa, Europe and Central Asia.
During these engagements, an official statement said, UAE investors shared constructive perspectives on further enhancing the investment environment, including issues related to market access, regulatory processes, and dispute resolution.
Matters such as arbitration frameworks and predictability of enforcement were also discussed in a forward-looking manner.
Goyal held discussions with Hana Al Rostamani, CEO of First Abu Dhabi Bank, Irfan Allana, IFFCO Group and Sharafuddin Sharaf, Sharaf Group.
When asked about the virtual document transfer systems to facilitate trade, he said that countries will have to adopt technologies.
India has already implemented this system with countries including Singapore and the UAE.
"With the UK also, we have agreed on that," under the free trade pact, he said.
On India-Middle East-Europe Economic Corridor (IMEC), he said, "I could see that a lot of the investments that are happening in the UAE are also keeping the IMEC at the back of their planning process".
Every country in the IMEC chain, he said, has started reorienting their infrastructure investments in a manner that could ultimately integrate into the IMEC.