Page 297 - MOE ENGLISH PR REPORT - JULY 2024

7/29/24, 3:40 PM News | Day of Dubai
H.E. Bin Touq conveyed the greetings of His Highness Sheikh Mohammed bin Zayed Al Nahyan,
President of the UAE, and highlighted the strategic economic, political, and cultural ties between the
UAE and India. He emphasized the UAE's commitment to working with Indian partners to support the
sustainable growth of both economies.

The discussions covered the UAE's National Tourism Strategy 2031, which aims to enhance the
country's status as a top tourism destination and increase the sector's contribution to the national GDP
to AED 450 billion. H.E. Bin Touq invited Indian investors to explore opportunities in the UAE's
dynamic business environment, emphasizing the country's logistics capabilities and economic

facilities.

H.E. Bin Touq also met with Dr. A. Sakthivel, President of the Federation of Indian Export
Organizations (FIEO), and other business leaders to explore cooperation in export and re-export,
textile machinery, and vehicle manufacturing. The meetings highlighted the UAE's unique economic
enablers and the increasing opportunities for collaboration between the two countries.

The UAE's Foreign Direct Investment (FDI) in India spans several critical sectors, including renewable
energy, software, IT services, and automotive manufacturing. The non-oil trade between the two
countries exceeded USD 53.5 billion in 2023, reflecting a 3.9% growth rate compared to 2022

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