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Last updated: 31 Mar, 2022  

India.UAE.9.Thmb.jpg India is 'the' destination for UAE businesses: Goyal

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SME Times News Bureau | 31 Mar, 2022

Minister of Commerce & Industry Piyush Goyal invited the business community from the United Arab Emirates (UAE) to come and capitalise on the business-friendly policies and the opportunities that the emerging India is offering to global businesses.

“With the cost and trust advantage that India offers, it is time to invest in India. As partners, we can secure each other’s economic future and strengthen our partnership in the post-COVID world,” said Goyal.

Goyal was speaking at India’s Honour Day Celebrations at Expo2020 in Dubai.

He said, "I believe we are now at the cusp of growth and development in the years to come. India provides talent and investor friendly policies. In most sectors, FDI is open 100%."

"We have several new initiatives to promote industry like the Production Linked Incentive scheme and the Make in India policy, our efforts to provide Ease-of-doing-Business, all of which will lead to ease of living for our people," he added.

"To the global community, I say, 'Come experience India – the land of opportunities'. Let’s grow together, let’s change together, let’s transform together because together we can surmount any obstacles and achieve humongous goals and targets beyond anyone’s imagination," said the Minister.

Goyal said that the new India is fearless and confident where we wish to see the prosperity of every Indian. “Next 25 years in India will signify a strong and inclusive India,” added the Minister.

He said the word ‘trust’ describes India-UAE relationship. “Our ties will remain vibrant and grow from strength to strength,” said the Minister.

Goyal said, “The special partnership that Prime Minister Narendra Modi and H.H. Sheikh Mohammed bin Zayed Al Nahyan share is legendary. It’s a bond of eternal friendship symbolising trust and we are natural partners due to the complementary nature of our economies and increasing trade will always showcase the synergy that the two nations have, strengthening further, our bonds.”

"Our shared vision which has opened newer avenues, one of which is the commitment to establish an Indian Institute of Technology (IIT) in the United Arab Emirates," added the Minister.  

On government cooperation, Goyal said both the governments supported each other. “We were the brothers working for each other during COVID,” he said.

"The Comprehensive Economic Partnership Agreement (CEPA) is a win-win agreement for the good of the people of both the countries,” he added.

On the grand success of Dubai Expo, the Minister said that Expo2020 is victory of courage over adversity.

"The Expo will go down in history as a memorable chapter where the two brothers came closer. It will conclude but the memories will remain. The India Pavilion is going to be a permanent structure; it is not going to be dismantled. It will stand as a testimony to our two countries working towards the collective good of the people," added the Minister.

The India Pavilion, one of the largest and most iconic pavilions at EXPO2020 Dubai, recorded more than 1.6 million footfalls since its inauguration on October 1st last year. The India Pavilion was inaugurated by Goyal.

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