- UAE-based companies have invested a total of US$ 8 billion in Indian projects, with around US$ 3.01 billion in the form of Foreign Direct Investment (FDI). UAE is the tenth largest investor in India in terms of FDI. Key UAE-based companies that are actively pursuing projects in India include Emaar, DP World, Abu Dhabi’s National Petroleum Construction Company, Abu Dhabi National Energy Company (Taqa), Drake and Scull International.
- India and UAE plan to set up a US$-75-billion dollar fund to invest in Indian infrastructure projects such as railways, ports, roads, military equipment, space technology and nuclear energy. The progress of this target was reviewed during a meeting between Sheikh Mohammad bin Zayed Al-Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces, and Indian Prime Minister Narendra Modi in January this year.
- As of March, India is set to invest US$ 140 billion to optimize and modernise its rail network over the next five years, and has initiated discussions with UAE-based sovereign wealth funds, particularly the Abu Dhabi Investment Authority (ADIA), for investments.
- Over 20 per cent of NRI investment in India’s real estate market—amounting to US$ 1.69 billion—came from UAE in 2016. According to a report, the Indian expatriate community in UAE accounted for US$ 1.69 billion of the Indian real estate market in the first nine months of 2016.
- Investment Corporation of Dubai (ICD), Dubai’s US$-800-billion sovereign wealth fund, is seeking investments in an Indian renewable energy platform through its subsidiary DUBAL Holding LLC.
- The Dubai-based retail conglomerate Lulu Group plans to invest more than Rs. 7,000 crore in establishing shopping malls and hotels in India. The group aims to invest Rs. 4,650 crore in Kerala, Rs 1,000 crore in Uttar Pradesh and Rs. 1,410 crore in Telangana in the hospitality and retail sector.
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Sources: Gulf News, Arab News, Economic Times, Provident Estate, Live Mint, Tribune India, Business Standard