17 UAE companies confirm investment in India’s infrastructure
India has been assisting over 200 UAE-based businesses to obtain licenses and approvals
Dubai: Seventeen UAE companies have confirmed their investment in India’s infrastructure sector in the last 12 months, an Indian minister has said.
“The UAE has committed $75 billion investments in India’s infrastructure sector. Now it is up to all of us to make that commitment a reality,” the minister emphasised.
The minister noted that while some UAE companies might be dealing with some “concerns and pending issues,” “all efforts are being made to resolve remaining issues by the specialised Joint Working Groups formed for this purpose.”
Goyal is on an official visit to the UAE to attend the 7th meeting of the UAE-India High Level Joint Task Force on Investments, which he co-chaired with Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince’s Court, in Abu Dhabi on Sunday.
About the UAE’s request to allow its carriers to expand their operations in India, the minister said, “The interests and concerns of both sides have been taken up and it is our expectation that discussions would be held shortly.”
Railway sector
Regarding the cooperation in the railway sector, he said India was keen to bring its 166 years experience in railways to the UAE. “We have recently bid a large contract for Etihad Rail. We have been shortlisted and now waiting for the final outcome.”
About India’s participation in Expo 2020 Dubai, the minister said the Indian pavilion will also host events on special occasions, further strengthening people-to-people ties.
“Twenty-seven focus sectors have been identified to showcase India’s advances in space, pharmaceuticals, information technology, renewable energy and telecom sectors, as well as India’s strength in innovation and start-ups,” Goyal explained.
About India’s plan to organise four mega shopping festivals across India, inspired by Dubai Shopping Festival, he said, “We would be learning from the Dubai experience. It will be a large format ... very similar to Dubai Shopping Festival.
“Our idea is to showcase India’s products and strength to the rest of the world ... to attract them to come and buy from India and invest in it,” the minister concluded.
