The perceptions and thinking of India and the UAE have changed drastically in the past decade, and in view of the fact that the WTO has changed the way of business thinking, it is time both countries started thinking beyond sheer commerce and trade.
Addressing a meeting organised by the Business and Professional Club (BPC) of Dubai and the Federation of Indian Chambers of Commerce and Industry (Ficci), Indian Ambassador K.C. Singh called for more meaningful investment cooperation between India and the UAE. The new joint ventures between them must be seen in the context of India removing restrictions on the movement of goods as of April 1.
Mohan Valrani, chairman of the Indian Sports Club, parent body of BPC, urged the local business community to set their sights on India as a favoured destination for investment.
Other speakers included Indian Consul-General Asoke Mukherji, the joint secretary to the government of India, Dr Bhaskar Balakrishnan, and Ficci additional secretary-general Krishan Kalra.
In his presentation on business opportunities in India, Gaurav Taneja of Arthur Andersen described the current economic situation. He emphasised that there is literally no licencing and no restrictions on foreign investment in industry and infrastructure.
Krishan Kalra said a recent survey carried out by Ficci on 400 foreign companies operating in India, revealed that these companies were satisfied with the policy framework, growth achieved by them in the last decade, profitability and more importantly, the legal framework in India.
India seeks more meaningful cooperation with UAE
The perceptions and thinking of India and the UAE have changed drastically in the past decade, and in view of the fact that the WTO has changed the way of business thinking, it is time both countries started thinking beyond sheer commerce and trade.
