Geopolitics · Research note · 29 Sep 2026
Signaled, aimed at, arrived: the UAE's $25 billion intent for India against 26 years of recorded inflows
On 28 September 2026, after the 14th meeting of the India-UAE High Level Joint Task Force on Investments in Mumbai, India's commerce minister Piyush Goyal said the UAE had invested $25 billion in India, intended another $25 billion in the near future, and aimed at $100 billion in the years to come. DPIIT's own count of UAE equity FDI from April 2000 to March 2026 is $25.6 billion, seventh among source countries. This note sets the statement against the record.
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Every number, and where it comes from
The first five figures in the note.
The full table has 13 rows. Each figure is as published on the date shown, with its denominator.
| Figure | What it measures | Source |
|---|---|---|
| $25B | UAE investment already made in India, as stated by Commerce Minister Piyush Goyal after the 14th India-UAE High Level Joint Task Force on Investments, Mumbai, 28 September 2026. Not broken down by type. | Business Standard, 28 Sep 2026; Akashvani, 28 Sep 2026 |
| $25B | Further UAE investment the UAE gave intent to make "in the near future", per Goyal. Intent, not a signed commitment. | Business Standard, 28 Sep 2026 |
| $100B | Goyal's "ultimate objective" for UAE investment in India "in the years to come". No date attached. | Business Standard, 28 Sep 2026; Akashvani, 28 Sep 2026 |
| $25,585.58M | Cumulative FDI equity inflows from the UAE into India, April 2000 to March 2026, per RBI data as compiled by DPIIT. Rank seventh, 3.25% of total. | DPIIT FDI fact sheet, April 2000 to March 2026 |
| $787,728M | Total cumulative FDI equity inflows into India, April 2000 to March 2026, excluding NRI schemes. | DPIIT FDI fact sheet, April 2000 to March 2026 |
8 more figures in the PDF, each with its source.
Sources
11 primary releases.
- Business Standard, UAE signals another $25 bn investment in India, eyes $100 bn overall (28 Sep 2026)Goyal: "The UAE has already invested $25 billion in India"; "They have also given intent to invest another $25 billion in the near future"; "with the ultimate objective of taking investments from UAE to $100 billion in the years to come". Names about $3 billion in RBL Bank and approximately $1 billion in Sammaan Capital; bilateral trade $100 billion, target $200 billion by 2032.business-standard.com
- Akashvani (Prasar Bharati), India-UAE bilateral trade reaches 101.25 billion dollars in FY 2025-26 (28 Sep 2026)14th meeting of the High Level Joint Task Force on Investments in Mumbai, co-chaired by Goyal and ADIA managing director Sheikh Hamed bin Zayed Al Nahyan. Bilateral trade $101.25 billion in FY 2025-26; non-oil trade $76.2 billion in 2025; $200 billion target by 2032; proposed $11.5 billion aluminium complex in Odisha; Emirates NBD about $3 billion in RBL Bank; IHC $1 billion in Sammaan Capital; UAE has invested around $25 billion, plans another $25 billion, long-term target $100 billion.newsonair.gov.in
- PSU Watch, India, UAE push local-currency trade, explore oil reserves and subsea gas pipeline (28 Sep 2026)Local-currency settlement uptake in double digits; expansion of strategic petroleum reserves in India examined; a study assessing gas transport by subsea pipeline; $11.5 billion aluminium complex; GIFT City operations.psuwatch.com
- WAM (Emirates News Agency), India-UAE High Level Joint Task Force on Investments holds 14th meeting in Mumbai (28 Sep 2026)Headline only; the article body could not be fetched at the time of writing.wam.ae
- DPIIT, Government of India, FDI fact sheet, April 2000 to March 2026 (June 2026 upload)Cumulative FDI equity inflow April 2000 to March 2026: total $787,728 million (RBI data, excluding NRI schemes). UAE $25,585.58 million, rank 7, 3.25%. Singapore $194,688.04M, Mauritius $186,766.99M, USA $81,821.12M, Netherlands $56,676.46M, Japan $48,141.08M, United Kingdom $36,894.05M, Cayman Islands $17,721.64M.dpiit.gov.in
- Emirates NBD, Emirates NBD to acquire majority stake in RBL Bank through primary infusion of ~USD 3bn (media release, undated on the fetched page)"the largest FDI and equity raise in the Indian banking sector till date" (release headline and description).emiratesnbd.com
- Business Standard, Emirates NBD completes majority stake acquisition in RBL Bank (18 Jun 2026)"Emirates NBD on Thursday said it has completed the acquisition of a majority stake in RBL Bank through a primary capital infusion of about $2.75 billion (around ₹26,000 crore)"; 60% of expanded share capital; first announced October 2025.business-standard.com
- Sammaan Capital, Press release on IHC investment (31 Mar 2026)"Sammaan Capital has received an initial tranche of INR 5,652 crores (USD ~600 million)"; "an additional INR 3,198 crores (USD ~338 million) to be received within a period of 18 months"; 41.5% via preferential allotment, up to 63.3% after the open offer at INR 139 per share.sammaancapital.com
- Times of Oman, UAE-India CEPA at four: bilateral trade crosses $100bn for second year, partners target $200bn by 2032 (21 May 2026)"the CEPA has driven bilateral trade to $101.25 billion in FY 2025-26, crossing the $100 billion mark for the second consecutive year, with non-oil trade now accounting for nearly two-thirds of the total"; "The leaders of both nations have recently set a new target of USD 200 billion in bilateral trade by 2032"; CEPA signed 18 February 2022, in force 1 May 2022.timesofoman.com
- Gulf News, Saudi Arabia to invest $100 billion in India (29 Sep 2019)Ambassador Saud bin Mohammed Al Sati: "Saudi Arabia is looking at making investments in India potentially worth USD 100 billion in the areas of energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining."gulfnews.com
- Arab News, Qatar to invest $10 billion in India (19 Feb 2025)"Qatar will invest $10 billion in India in infrastructure, technology, manufacturing, food security, logistics, hospitality and other sectors."arabnews.com