Investment Uncategorized

UAE to invest $75 billion in India, partner on clean energy: Piyush Goyal at Dubai expo

The UAE and India share a lot of strengths and can collaborate to serve the world, said Indian Union Minister Piyush Goyal, who is on a visit to the UAE. The minister also stated that both countries share a “natural partnership” and foresee a win-win situations and collaborations in terms of opportunities and employment.

“Investment is one big area which we can expect to work together in a big way. Over the years, the UAE has developed capabilities in industries where low-cost energy can help India develop quality products at very attractive prices. And therefore, I believe this is a natural partnership that should benefit both countries; provide opportunities for people of both countries; provide huge employment opportunities, particularly in sectors which are labor-intense like textiles, footwear, food processing,” said Goyal at a Press briefing on Saturday at the Indian consulate in Dubai.

“India and the UAE share a lot of complementarities. We are not in competition with each other. We actually can collaborate to serve large parts of the world. There are many areas of collaboration, like textiles, leather, accessories, footwear, pharmaceuticals, healthcare,” said Goyal, who is also the Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles.

Goyal said the response he has received from the UAE businessmen that he met during his current trip has been “truly fabulous”.

“The excitement I see and the potential that is demonstrated by all interested parties — persons who are importing goods and services from India to businessmen who I met at the inaugural event (of the Indian pavilion at Expo 2020) and at the dinner last night…everybody seems to love India,” said Goyal.

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