UAE & India expand bilateral investments in growth sector

UAE & India expand bilateral investments in growth sector

The UAE Ministry of Investment has signed three Memorandums of Understanding (MoUs) with India, for the expansion of bilateral investment cooperation in the renewable energy, food processing and healthcare sectors. The agreements were signed by the respective Indian ministries, underscoring UAE’s strong commitment to supporting the continued development of India’s prospering economy, which is estimated […]The UAE Ministry of Investment has signed three Memorandums of Understanding (MoUs) with India, for the expansion of bilateral investment cooperation in the renewable energy, food processing and healthcare sectors.

The agreements were signed by the respective Indian ministries, underscoring UAE’s strong commitment to supporting the continued development of India’s prospering economy, which is estimated to grow by 7.3 percent during the current fiscal year.

Economic engagement between the UAE and India is multidimensional and rapidly growing, underpinned by a Comprehensive Economic Partnership Agreement (CEPA) between the two nations which came into effect in May 2022. Bilateral trade between the UAE and India amounted to $84.5 billion between April 2022 and March 2023 and is expected to increase to $100 billion by 2027.

The three MoUs are between the Ministry of Investment of the UAE and:

• The Ministry of New and Renewable Energy of the Republic of India