Abu Dhabi’s Mubadala sees India as increasingly vital in the emerging world order. Global fragmentation is “a new normal for the next five, 10, or 15 years,” Deputy Group CEO Waleed Al Muhairi said at the Bloomberg New Economy Forum in New Delhi this week.
That conviction is guiding the $385 billion Abu Dhabi fund on its investment decisions. India is “increasingly important for our capital,” Al Muhairi said, citing its market size and “massive infrastructure program” that is driving tens of billions of dollars of investment into the world’s most populous country. Asia-Pacific is still a small share of Mubadala’s portfolio, making up 13% of its holdings, against 44% for North America. But Abu Dhabi’s ties with New Delhi are already deep: UAE-India trade topped $100 billion for a second straight year in the 12 months to March and the two countries are looking to double that figure by 2032.
