Waleed Al Mokarrab Al Muhairi, deputy group chief executive of Mubadala, framed the shift clearly. Global fragmentation could remain the new normal for five, ten or 15 years, he said. India, in that context, is rising sharply in strategic importance.
India’s scale drives much of the logic. A large and growing infrastructure programme draws tens of billions of dollars annually. That combination — size, spending and a broad base for technology adoption — suits a long-horizon sovereign fund.
What is drawing Mubadala to India now?
Mubadala has identified three structural themes in India: technology adoption, infrastructure development and capital markets. Each theme offers assets that match the fund’s patient capital approach.
Asia’s share of Mubadala’s portfolio has grown to approximately 13%, up from around 10% three years earlier. The table below shows the direction of travel.
| Portfolio Region | Approximate Share | Period |
|---|---|---|
| Asia | ~10% | Three years ago |
| Asia | ~13% | Current |
By FurtherArabia’s reading of those figures, the shift is measured rather than dramatic. Mubadala adds Asian exposure while keeping substantial commitments to North America and other core markets.
Trade ties between the UAE and India reinforce the investment case. UAE-India bilateral trade exceeded US$100 billion for a second consecutive year in the 12 months to March 2025. Both governments are targeting US$200 billion by 2032. That target gives sovereign investors a strong policy and commercial backdrop.
Cube Highways sell-down signals capital recycling
Mubadala’s recent activity in India shows both entry and disciplined recycling of capital. In October 2024, its investment vehicle Seventy Second Investment Company sold 44.97 million units in Cube Highways Trust, representing a 3.35% stake, for approximately INR 6.8 billion (US$82.5 million), according to BSE exchange data.
Domestic institutions absorbed the block. Larsen and Toubro led the buying. Mutual funds and life insurers took the remainder.
That transaction points to a maturing market dynamic. Mubadala raises capital from established positions. Domestic institutions step up. The process creates room for fresh deployments elsewhere in the market.
India’s infrastructure pipeline remains the central attraction. It aligns with Mubadala’s long investment horizon and its preference for scalable, cash-generative assets. Meanwhile, deepening trade ties reduce friction between Abu Dhabi capital and Indian deal flow.
The fund’s diversification strategy and India’s US$200 billion trade target with the UAE by 2032 are the two metrics investors should track most closely in the months ahead.
Source: Furtherarabia