India’s foreign direct investment into Dubai surged to over $3 billion in 2024, making the South Asian nation its top investor, the latest data shows.

• Dubai’s Department of Economy and Tourism announced earlier this week that the most populous of the UAE’s seven emirates attracted 52.3 billion dirhams ($14.20 billion) in estimated FDI capital in 2024.
• India was “the top source country with the highest total estimated FDI capital into Dubai, accounting for 21.5 percent.
• The value amounts to about $3.05 billion and was five times higher than in 2023, when India was Dubai’s fifth largest FDI capital contributor.
• In 2024, India was followed by the US at 13.7 percent, France with 11 percent, the UK at 10 percent, and Switzerland with 6.9 percent.
• India was also the second-largest player in FDI projects to Dubai, accounting for 15 percent of them, preceded only by the UK at 17 percent.