Page 329 - MOE ENGLISH PR REPORT - JULY 2024

7/29/24, 2:02 PM Investopia Global Talks launched in India’s Chennai to strengthen UAE-India economic partnership in new & sustainable economic …
H.E. Bin Touq emphasized Investopia’s key role in strengthening the UAE’s efforts to transition
to a new economic model based on knowledge and innovation, given its focus on promoting

investment and expansion in new and sustainable economic sectors. Furthermore, it facilitates
productive economic partnerships with governments and the private sector in these critical

areas, where dialogues have been successful. Over the past three years, Investopia Global
Talks traveled to more than 11 global strategic markets, presenting a series of effective and

distinct debates and sessions on economic and investment opportunities in emerging markets,
and offering an interactive platform that brought together senior leaders, economic players,

investors and entrepreneurs at the local, regional and global levels.

H.E. added that the UAE and India share the vision of embracing a new and sustainable

economic model, which underscores Investopia’s key role in promoting and supporting the
achievement of this vision in the government and private sectors of the two countries.

The UAE and India are among the fastest growing economies, with the UAE’s non-oil GDP

growing by 6.2% in 2023 compared to that of 2022, ranking 5th globally in the real GDP
growth index. Meanwhile, India’s GDP grew by 8.4% in the last three months of 2023. These

figures reflect the momentum of growth of economic opportunities in the two countries’
markets during the next phase, given their outstanding economic partnership.

H.E. Bin Touq said: “We introduced the inaugural Investopia Global Talks in India in 2021,
hosting two sessions in Mumbai and New Delhi. Today, we are launching a new milestone in the

South Indian city of Chennai, highlighting the significance we attach to the Indian private
sector as a key economic and investment partner to the UAE’s business sector. This has great

relevance considering there were over 232,000 Indian commercial licenses operating in various
economic sectors and activities within the UAE’s markets as of the end of H1 2024. In this,

20,000 Indian commercial licenses were registered during the first six months of this year
alone.”

“The choice of Chennai, India as the venue for the Investopia Global Talks is driven by its
strong economic foundation in new and innovative sectors like electric vehicles, programming,

medical tourism, sustainable manufacturing, data centres, and the development of fintech
sector. This establishes Chennai as a key hub for fostering attractive investment prospects in

these sectors, which are crucial to the UAE private sector to explore and capitalize on. The
Indian government has set an ambitious target for Chennai to achieve a trillion-dollar economy

by 2030 through sustainable sectors and initiatives, cutting-edge innovations, e-commerce,
and the upskilling of talent,” H.E. added.

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