The oldest and largest association of Indian businessmen and professionals, Indian Business and Professional Council (IBPC), in cooperation with the Dubai Chamber of Commerce, has brought out the India-UAE Bilateral Trade and Investment Report.
The report, launched during a meeting attended by HE Hamad Buamim, President and CEO of Dubai Chambers, Mr. Suresh Kumar, Chairman of IBPC and representatives from both organizations, examines the trade and investment relations, as well as synergies and bilateral business opportunities across key sectors between the countries.
The India-UAE Bilateral Trade and Investment Report offers key insights into how economic ties between UAE and India have developed over the decades. Foreign direct investment (FDI) flows between the two countries are valued at over $57 billion over the 2003-2021 period, the report estimates.
India’s FDI into the UAE represents approximately 54 percent of the cumulative bilateral FDI. According to the UAE Embassy in India, the cumulative bilateral FDI stands at $67 billion. Conversely, the Indian Embassy in the UAE estimates that the country’s investments in India are about $17 billion to $18 billion, of which over $11 billion is in the form of FDI.
The majority of India’s FDI has been in the coal, oil and gas and real estate sectors, while the UAE’s FDI has primarily flowed into real estate and ceramics and glass.
Apart from FDI, there has also been considerable investment by companies owned or operated by Indians based in the UAE. The UAE is home to over 3.4 million Indians, the largest expatriate community in the country. It is estimated that local investments by non-resident Indians in the UAE amount to about $55 billion, with investments estimated at $8billion to $9 billion by the 70 richest Indians based in the UAE.
The report also highlights investment opportunities in various economic sectors, specifically in advanced technologies, precious stones and jewelry, infrastructure development, oil and gas, renewable energy, markets, financial services, education, technology, emerging projects, food security, pharmaceuticals and medical equipment.
HE Buamim said that the in-depth report offers valuable insights that can be used as a guide for companies and investors who are keen to explore market opportunities. He noted that the Dubai Chamber supports IBPC and other country-specific business councils that operate in the emirate.
