December 20, 2021
2 mins read

Indian industrialists urged to use UAE’s infrastructure for growth

Goyal shared three undercurrents reflecting the present state of India-UAE friendship…reports Asian Lite News

India’s Minister for Commerce and Industry, Piyush Goyal, on Saturday discussed with industry leaders in Mumbai and heads of Export Promotion Councils how to make use of opportunities available for them to expand their global footprint by leveraging business platforms and infrastructure offered by the UAE.

Indian industrialists urged to use UAE’s infrastructure for growth

Goyal told industrialists and export facilitators in India’s commercial capital that the “UAE is the gateway to the GCC and to all of Africa. Our goal is to become the number one trading partner of the UAE.”

The Minister shared his vision of the “highly favourable outcomes” to be expected from the India-UAE Comprehensive Economic Partnership Agreement (CEPA) which is in the advanced stages of negotiation. “There is a lot of good news coming up, across several sectors, as we negotiate and finalize this agreement with the UAE.”

Goyal shared three undercurrents reflecting the present state of India-UAE friendship.

“The UAE is celebrating the 50th year of its foundation and India is celebrating the 75th year of its independence. Secondly, UAE has committed $100 billion for investment and infrastructure creation in India. And thirdly, the UAE-India CEPA will be India’s fastest-negotiated Free Trade Agreement (FTA) and the fastest-negotiated CEPA ever between two nations, which also gives the maximum opportunity for Indian business.”

ALSO READ: ‘Our vision is to make India a global defence manufacturing hub’

During the discussions, B Thiagarajan, Chairman for the Western Region of the Confederation of Indian Industry (CII), said: “India-UAE bilateral relations have led to tremendous growth in the past few years and created a framework for strategic partnerships. The interaction today is an example of the opportunities that may emerge as a result of the strong bilateral relationship.”

Representatives of the Engineering Export Promotion Council India, the Gem and Jewellery Export Promotion Council, the Tea Board of India, the Cotton Textile Export Promotion Council, the Spices Board, the Retailers Association of India, the Apparel Export Promotion Council, the Plastic Export Promotion Council and the Clothing Manufacturers Association of India attended the interaction.

In addition, more than 100 companies joined the conference virtually.

Previous Story

Joint UAE-Bahraini nanosatellite set to launch tomorrow

Next Story

Green pass mandatory to enter UAE govt buildings

Latest from -Top News

Lanka Marks Next Phase of Indian Housing Drive

Phases III and IV of the Indian Housing Project highlight India’s commitment to supporting and empowering Sri Lanka’s Indian-origin Tamil community….reports Asian Lite News Sri Lankan President Anura Kumara Dissanayake on Sunday

Hamas Frees Captives

The Israeli Air Force announced that it has completed its preparations to receive hostages returning from Gaza to Israel….reports Asian Lite News The Red Cross has taken custody of the first group

China’s Grab for Africa

China’s investments aim to strengthen its geopolitical influence and its high-tech manufacturing sector in Africa…reports Asian Lute News China is further consolidating its dominance in the rare earth elements sector by expanding

Pakistan Courts in Peril

The question now is whether Pakistan’s courts can continue to function as guardians of the law, or whether they will be reduced to instruments of control…reports Asian Lite News Pakistan judiciary’s independence
Go toTop

Don't Miss

India develops new face recognition system

Apart from the disguises, the system also considers different lighting

India PE Investments Maintain Upward Trend

While PE activity recorded the third-highest monthly deals in the