UAE emerges as India’s 4th largest investor in FY 2022-23
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Singapore was the largest investor in India with an investment of $17.2 billion in the last financial year. It was followed by Mauritius ($6.1 billion) and the US ($6 billion). Rudra Kumar Pandey, partner, Shardul Amarchand Mangaldas & Co, said the strengthening of bilateral ties and investment cooperation between India and the UAE can be attributed to policy reforms. He said that the Comprehensive Economic Partnership Agreement (CEPA) has an important place in this. Most of the UAE investments in India are in the services, sea transport, power and construction activities sectors.
duty free access
The UAE has promised an investment of $75 billion in India’s infrastructure sector. Along with this, he has also assured to become a partner in India’s renewable energy sector. A Comprehensive Free Trade Agreement was launched between India and the UAE from May 1. Under this, many types of goods of both the countries are getting duty free access to each other. Between April 2000 and March 2023, 2.5 per cent of all FDI in India came from the UAE. According to statistics, FDI worth $ 15.6 billion came to India from UAE during this period.
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