As a result of a report published on Monday, India has become a leading source of Foreign Direct Investment (FDI) in Dubai, one of the wealthiest emirates in the United Arab Emirates.
According to “FDI Markets”, a service from UK’s Financial Times Ltd, it ranked among the top five source countries for announced foreign direct investment projects and estimated foreign direct investment capital.
The top sectors for FDI projects from India into Dubai in 2022 were software & IT services (32%), business services (19%), consumer products (9%), real estate (6%), and financial services (5%).
FDI capital from India into Dubai in 2022 was concentrated in consumer products (28%), software & IT services (20%), communications (19%), pharmaceuticals (8%) and business services (8%) .
In addition to maintaining its number one rank as a destination city for FDI from India, Dubai retained its number one spot globally for attracting greenfield FDI projects, further cementing its position as the world’s top foreign direct investment hub.
In 2022, Dubai retained its top spot for the second successive year by generating 89.5 percent YoY (year-over-year) growth in total FDI projects announced, while total FDI capital soared by 80.3% over the same period, consolidating its status as one of the world’s top three cities.
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