Industry Minister hopeful of ‘larger’ UAE investment

Commerce and Industry Minister Piyush Goyal on Friday expressed optimism for a larger investment flow coming into India from the UAE.

Goyal, who was on a two-day visit to the gulf nation, also expressed confidence about an impending “big leap of faith” in bilateral relations, with renewed focus on scaling investments and collaborative ventures across key sectors.

He highlighted ongoing collaborations in renewable energy, shipbuilding, pharmaceuticals, retail, and other high-growth areas, emphasising that both nations were “actively working to rapidly grow investments across various sectors”.

Goyal noted that the UAE already ranked among India's top 5-6 foreign investors, but stressed untapped potential for exponential growth.

“In terms of resetting investment targets, while the UAE is already among the top 5-6 investors in India, my sense is that we can look at much larger investment flow given the strong economy we are on," he said.

On Bharat Mart, India's ambitious export promotion hub in Dubai's Jebel Ali Free Zone, Goyal said tendering had started, and work was expected to start later this year.

“By early 2027, we expect to see Bharat Mart operational," he said.

Co-chairing the UAE-India Business Council (UIBC) Roundtable alongside UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi, Goyal expressed optimism over the "ever-growing economic partnership” between the nations.

The leaders lauded “pivotal contributions” of the private sector in elevating India-UAE relations, which have deepened through landmark agreements in energy, defence, technology, and food security.

Key discussions at the roundtable revolved around boosting trade and investment flows, forging stronger business alliances, and identifying fresh avenues for collaboration.

During the visit, UAE stakeholders voiced constructive feedback on refining the investment ecosystem, touching on market access, regulatory streamlining, and dispute resolution mechanisms, including arbitration and enforcement predictability.

Goyal said India was dedicated to a transparent, reform-oriented business climate to bolster investor trust.