UAE to Commit Investing $50 Billion in India Owing to its Growth

The United Arab Emirates is contemplating making a substantial investment of up to $50 billion in India, which is its second-largest trading partner. This investment forms part of a broader strategy based on the belief in India's position as the world's fastest-growing major economy.

According to unnamed sources, individuals with knowledge of the matter have revealed that the UAE may make temporary commitments that are likely to be announced at the beginning of next year. Following Narendra Modi's meetings with UAE President Sheikh Mohammed bin Zayed in July, any forthcoming investments will be implemented.

Over the course of the last ten years, the countries have actively pursued efforts to strengthen their relationship and are determined to elevate bilateral trade, excluding oil, to a remarkable $100 billion. Modi has made his fifth visit to Abu Dhabi, the Gulf nation, since assuming the role of prime minister in 2014. Before him, the last Indian premier to visit the UAE was none other than Indira Gandhi in 1981.

According to one source, Sheikh Tahnoon bin Zayed Al Nahyan's entities have engaged in preliminary discussions regarding the potential investment of billions of dollars in India as part of their recent efforts. The brother of the UAE president, Sheikh Tahnoon, is the chairman of International Holding Co., which recently revealed owning a 5% stake in Gautam Adani's main conglomerate. The said event occurred a few days later after IHC reduced its investments in two Adani companies, although the firm restated its dedication to India during that period.