Abu Dhabi weighs investment pledges worth $50 b for India

The United Arab Emirates (UAE) is planing for investing up to $50 billion in India, it was second-largest trading partner. This investment is part of their strategy to tap into India’s rapid economic growth.This potential investment is part of their efforts to strengthen ties and increase non – oil bilateral trade to $100 billion. Prime Minister Narendra Modi has been actively engaging with the UAE to foster this relationship. The last Indian prime minister to visit the UAE before Narendra Modi was Indira Gandhi in 1981.

The investments being discussed include stakes in Indian infrastructure projects and state-owned assets,These announcements could happen before Modi seeks a third term  upcoming election in India.These deals may involve sovereign wealth funds like the Abu Dhabi Investment Authority, Mubadala Investment Co, and ADQ. However, specific timelines and details for these investments have not been finalized.

Sheikh Tahnoon bin Zayed Al Nahyan, the brother of the UAE President and chairman of International Holding Co., has also been in early talks about investing billions of dollars in India. The UAE sees India as a significant growth opportunity.The UAE views India as a promising growth engine for the next decade and has been actively pursuing investments in the country. This aligns with the UAE’s efforts to diversify its investments away from traditional destinations like Europe. Other Gulf states, including Qatar and Saudi Arabia, have also become significant investors in India.

This move by the UAE indicates its desire to position itself as a neutral player in the global geopolitical landscape, particularly amid the rivalry between the United States and China. As a country managing close to $1.5 trillion in sovereign wealth, the UAE is a crucial partner for China in bridging infrastructure gaps. For India, these foreign investments can be seen as a boost to the economy, which Prime Minister Modi can highlight in the lead-up to the 2024 elections.

WRITTEN BY :- MALLA GREESHMA , COLLEGE :- SRI PADMAVATI MAHILA VISWAVIDYALAYAM , A ,9TH SEMESTER  LEGAL JOURNALISM INTERN AT LEGAL VIDHIYA INTERN

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