Page 27 - MOE ENGLISH PR REPORT - JULY 2024

Press Release

Indian private sector invited to benefit from the potentials of UAE's business environment

During his meeting with Dr. T.R.B. Rajaa, Minister for Industry, Investment Promotion, and
Commerce in the Government of Tamil Nadu, H.E. Bin Touq discussed a range of flexible
economic policies and legislations in both countries aimed at enhancing dialogue between the UAE
and Indian business communities and encouraging the establishment of new projects in various
economic fields. In addition, H.E. invited Indian investors and businessmen to take advantage of
the opportunities provided by the UAE, especially its logistics capabilities and economic facilities
for establishing diverse business activities. The two countries enjoy strong relations in the civil
aviation sector with continued growth in air traffic between UAE and Indias cities. Currently, there
are 555 weekly flights connecting various cities of the two destinations, operated by the UAE’s
national carriers.

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H.E. also invited the two Tamil Nadu ministers to participate in the 4 edition of Investopia,
scheduled to be held in February 2025, as it will be a significant opportunity to discuss ways to
benefit from the promising opportunities that the UAE offers to investors from around the world,
and to develop cooperation in various economic sectors.

In yet another meeting, with Dr. A. Sakthivel, President of the Federation of Indian Export
Organizations (FIEO), H.E. Bin Touq highlighted the increasing opportunities for cooperation
between the two countries in export and re-export and supporting the growth of exporting
companies operating in the UAE and Indian markets.

H.E. Bin Touq also met with Mr. Sanjay Jayavarthanavelu, Chairman and Managing Director of
LMW, one of India's leading companies specializing in textile machinery manufacturing. In
addition to the latest advanced technologies and innovative solutions used by the company in the
textile machinery industry, the meeting discussed the unique economic enablers and support that
the UAE's business environment provides to companies looking to establish their operations in the
country.

During another meeting with Mr. Dheeraj Hinduja, Chairman of Ashok Leyland, a leading Indian
company in vehicle manufacturing and assembly, and the fourth-largest bus manufacturer in the
world, the company presented its expansion plans in the UAE market before H.E. the Minister of
Economy.

Trade and Investment Cooperation between UAE and India

The UAE’s FDI in the Indian markets cover several vital economic sectors, most notably renewable
energy, software, IT services, and automotive manufacturing. The non-oil trade exchange between
the two countries is also witnessing continuous growth, with the total value of non-oil trade

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