With $9.3 billion existing Dubai investment, 55,274 jobs; new MoUs seek to expand India-UAE AI and trade ties

Dubai Chambers has signed agreements with IT industry body Nasscom and the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) to promote collaboration between Dubai and Indian businesses in advanced technologies, as well as to encourage trade and investment.

The agreements were signed in Bengaluru between the Indian industry bodies and a delegation led by Dubai Chambers’ president and chief executive officer, Mohammed Ali Rashed Lootah. The delegation held eight meetings with Indian and multinational companies and technology startups.

The memorandum of understanding (MoU) with Nasscom establishes a framework for cooperation in agentic AI and deep tech, aimed at supporting market access for Indian companies seeking to establish a base or expand in Dubai, while promoting knowledge-sharing, innovation initiatives, ecosystem engagement and industry collaboration.


Lootah said Dubai’s drive to speed up agentic AI adoption across the private sector is creating opportunities for Indian technology companies, innovators and specialists.

“Agentic AI is important for us. It will help us to increase the productivity of our economy,” Lootah said at a press conference in Bengaluru. He said Dubai had been asked to transform its private sector into an agentic AI-powered sector to improve productivity and contribute to economic growth.

The UAE plans to work with Indian companies to develop an AI corridor linking Dubai and Bengaluru, with the aim of helping Indian technology firms access markets in West Asia, North Africa and Africa. The Nasscom partnership will include AI-focused business delegations, business-to-business meetings, networking events and other engagements connecting companies and stakeholders in India and Dubai.

The MoU signed with FKCCI focuses on strengthening trade, investment and business collaboration between Dubai and Karnataka. The agreement includes plans to establish a Virtual Dubai Desk to serve as a point of contact for companies exploring opportunities in Dubai, along with market-entry guidance, ecosystem orientation and business expansion support.

The two sides will also organise regular roundtables, knowledge-sharing sessions, inbound and outbound business delegations and sector-focused engagements.

Lootah said a Dubai-Karnataka business event is expected to be hosted in Dubai in early 2027.

“The more we put the right platform for them, definitely it will yield into deals,” he said, adding that the agreements could lead to trade and investment opportunities, job creation and economic value for both markets.

Indian companies form the largest foreign business community represented in Dubai.

Dubai Chambers said 85,841 Indian companies were active members as of the end of June 2026, marking 15% year-on-year growth. The chamber also welcomed 7,579 new Indian companies during the first half of 2026.

Lootah said India is Dubai’s second-largest trading partner, while the UAE is India’s third-largest trading partner. Bilateral trade between Dubai and India reached around $60 billion in 2025, according to his remarks, and has continued to grow at a double-digit pace.

Investment flows have also increased. Indian foreign direct investment into Dubai reached $2.28 billion in 2025, while investments from Dubai into India totalled $9.3 billion across 147 projects between 2016 and 2025, creating 55,274 jobs, according to Dubai Chambers.

Trade, retail, wholesale and logistics remain the main sectors in which Indian companies contribute to Dubai’s economy. However, Lootah said the next phase of growth would be driven by digital economy sectors such as AI, fintech, deep tech and software-as-a-service. He also pointed to agritech as an area of opportunity, saying Indian companies could use Dubai as a platform to take solutions related to food security, agricultural productivity and waste reduction to markets in Africa.

During the Bengaluru visit, the delegation met more than 50 Indian startups across over 16 specialisations, including climate tech, fintech, deep tech and AI.

Lootah said the companies were primarily interested in how Dubai could help them access African markets and showcase Indian innovation globally. He described Bengaluru’s ecosystem as distinctive because of its combination of technology talent, entrepreneurs, startups and small and medium enterprises.

Lootah also urged Indian technology companies to build their own brands rather than limiting themselves to subcontracting for Western multinational companies. Dubai, he said, wants to see more Indian technology companies grow into global brands and unicorns while retaining their talent and operations in India.

“Talent is the most important tool to convert your dream into reality, and you have the talent,” Lootah said, referring to India’s AI workforce.

The UAE-India Comprehensive Economic Partnership Agreement has helped reduce trade barriers and contributed to an increase of more than 35% in Dubai’s non-oil bilateral trade with India since it was signed nearly four years ago, Lootah said. He said the agreement could further support India’s manufacturing ambitions by enabling Indian companies to use Dubai as a redistribution hub for regional markets.

Dubai International Chamber, one of the three chambers operating under the Dubai Chambers umbrella, maintains two representative offices in India--in Mumbai and Bengaluru--to support engagement with Indian businesses and connect companies and investors with Dubai’s business ecosystem.