Seeking investments from UAE, India today said huge opportunities exists for businesses of both the sides in areas like infrastructure and R&D to strengthen economic ties.
The Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek said the government is taking several steps in improving ease of doing business and relaxing FDI policy to attract investments.
"There is a huge opportunity for industries in UAE to come and invest in India," he said here at a function organised by the industry body CII.
He was addressing business leaders from the two countries. The UAE delegation is here to invite India to participate in the Global Manufacturing and Industrialisation Summit (GMIS) to be held in Abu Dhabi in March 2017.
Abhishek said both the sides can increase cooperation and collaboration in areas like services sector, startups, R&D and design.
"We welcome UAE industries top explore potential in India," he said adding Indian companies should also look at opportunities in UAE and participate in the summit.
"The summit is a great opportunity for Indian companies to explore possibilities of investments in UAE," he added.
Speaking at the event, UAE Ambassador to India Ahmed Al Banna invited Indian firms to participate in the summit.
He said that UAE is participating in smart city project of India.
India has received USD 4.38 billion FDI from UAE during April 2000 and September 2016.
CII and GMIS also inked an MoU to increase cooperation on the summit.
Disclaimer: No Business Standard Journalist was involved in creation of this content
