Abu Dhabi is actively seeking investment opportunities from India and is inviting Indian startups to establish hubs in its capital city to expand its business beyond hydrocarbons. This initiative is expected to not only benefit the local economy but also provide a platform for Indian companies to expand globally. The priority sectors for investment opportunities include tourism, agritech, healthcare, pharma, and financial services. Abu Dhabi is looking forward to welcoming Indian enterprises to explore these opportunities and invest in these sectors.
Abdulla Abdul Aziz Alshamsi, the Acting Director General of Abu Dhabi Investment Office (ADIO), has emphasized the importance of growing relations between India and the UAE. Alshamsi has pledged to provide Indian companies with all the necessary assistance to explore investment opportunities in Abu Dhabi. He has urged Indian startups to leverage Abu Dhabi’s strategic location to expand their reach globally, and contribute to the growth of the local economy. With Indian startups increasingly seeking investment avenues abroad, Abu Dhabi is positioning itself as an attractive destination for innovative enterprises, especially those operating in the priority sectors identified by ADIO.
Abdulla Abdul Aziz Alshamsi, the Acting Director General of Abu Dhabi Investment Office (ADIO), highlighted the potential of the agritech sector, especially in light of the dry and arid climate in Abu Dhabi and the Middle East. He emphasized the role of agritech in addressing global food security challenges. Alshamsi also mentioned the recently signed Free Trade Agreement between India and Abu Dhabi, emphasizing its potential for economic collaboration and knowledge sharing, in addition to facilitating the trade of goods and services.
India and the UAE have a long-standing history of trade ties, with the bilateral trade valued at USD 72.8 billion in 2021-22, according to the Ministry of External Affairs. The UAE is India’s third largest trading partner, after China and the US. Furthermore, the UAE is the second largest export destination for India, with exports worth almost USD 28 billion in 2021-22, second only to the US. These figures highlight the strong economic relations between the two nations, and the potential for further collaboration and growth in the future.