UAE investments in India cross $10 billion

United Arab Emirates’ sovereign wealth funds have invested more than $10 billion in India across renewable energy, telecom, road infrastructure among other sectors, the Indian envoy said during an event in Abu Dhabi.

At the three-day annual conference of Confederation of Real Estate Developers’ Associations of India (CREDAI), Sunjay Sudhir, Ambassador of India to UAE, underlined that bilateral relations have been accelerating with a surge in two-way investments. “We have made rapid strides in bilateral relations since 2014,” he said during his keynote address at CREDAI NATCON 2022.

Bilateral trade has continued to strengthen with the signing of the Comprehensive Economic Partnership Agreement (CEPA) in February 2022. “The India-UAE partnership is accelerating fast. We see this reflected in investments made in India by leading UAE companies in the last several years. In the last five years alone, more than $10 billion have been invested by UAE sovereign wealth funds across renewable energy, telecom, road infrastructure, affordable housing and startups,” Sudhir said.

CREDAI is the apex body of more than 13,000 private real estate developers in India. The conference, inaugurated by Sheikh Mohammed bin Nahyan bin Mubarak Al Nahyan, is being attended by more than 1,300 developers from India.