UAE Committed Investments of $100 billion in India, says Goyal

Commerce and industry minister Piyush Goyal said on Friday that the United Arab Emirates has committed investments of $100 billion in India in manufacturing, infrastructure and services.

He said bilateral trade can go up to $250 billion by 2030 under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).

"The commitment from UAE is to look at over $100 billion of investment to India in different sectors such as manufacturing, infrastructure, services," Goyal said at the India-UAE Economic Partnership Summit in Mumbai organised by the Confederation of Indian Industry where he launched 'India-UAE Start Up Bridge' with the UAE's minister of economy Abdullah Al-Mari.

The bridge is a one-stop platform, part of the CEPA, to strengthen collaboration to promote startups through exchange of best practices between accelerators, incubators and other such ecosystem stakeholders.

Goyal also said that India and the UAE are looking at education partnerships and that deeper energy cooperation and green hydrogen is going to be an area where both sides will work together.