Page 306 - MOE ENGLISH PR REPORT - JULY 2024

7/29/24, 3:41 PM H.E. Bin Touq discusses ways to enhance cooperation in new economy, tourism, entrepreneurship and transport sectors during me…
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 between the two sides exceeding USD 53.5 billion in 2023, a growth rate of
3.9 per cent compared to 2022.

MENAFN28072024003685011158ID1108490968

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