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7/29/24, 2:03 PM Investopia Global Talks launched in India's Chennai to strengthen UAE-India economic partnership in new & sustainable economic …
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.

H.E. Alia Al Mazrouei, Minister of State for Entrepreneurship, said: “Under the directives of its wise

leadership, the UAE attaches significant importance to developing the SMEs sector, which is a key partner in
fostering the growth and sustainability of the national economy. SMEs today make up 94 per cent of all

private sector companies in the UAE and contribute 40 per cent to the UAE’s GDP.” H.E. emphasized that the
Ministry of Economy has set a target of raising the number of SMEs operating in the country’s markets to one
million by 2030. This objective aims to support the increase of the UAE’s GDP to AED 3 trillion within the next
decade, aligning with the goals outlined in the ‘We the UAE 2031’ vision.

“This edition of Investopia marks a new step in fueling SME sector growth in both the UAE and India. Its

purpose is to shed light on the opportunities and enablers available to entrepreneurs and startups in both
countries, while also motivating them to invest in new economic sectors.” H.E. added.

The latest edition of Investopia Global Talks hosted three panel discussions that brought together
government officials, businessmen, and investors from both countries. The first session, titled “Shifting Geo-
Political Tides: India’s Global Economic Role and the Impact of the Red Sea Crisis,” emphasized the

significance of capitalizing on opportunities and enablers offered by both countries to overcome current
global economic challenges. It also aimed to facilitate the exchange of experiences and best practices in
sustainable sectors and activities. Additionally, the session shed light on the pivotal role of the India-Middle

East-Europe Economic Corridor project.

The second session focused on the key mechanisms and strategies for decarbonizing heavy industries in

both markets. This plays a vital role in the efforts to achieve climate neutrality in the future and enhancing
green partnerships between the two countries. The session also highlighted the significance of adopting

advanced technologies and innovations that facilitate the transition towards sustainable sectors and promote
environmentally friendly economic growth. Furthermore, it discussed the importance of finding suitable
solutions to address the escalating environmental challenges.

The third session, titled “Make it in the Emirates” reviewed the significance of the UAE’s industrial sector in
bolstering the country’s reputation as a leading global destination for international investors. It highlighted the

policies adopted by the UAE and the incentives that were launched to promote this crucial sector over the
years. Moreover, the session underscored the crucial role of adopting innovative and smart solutions and
artificial intelligence (AI) to enhance the efficiency, growth, and competitiveness of industrial companies.

Additionally, it explored the benefits that both UAE and Indian private sectors can derive from the UAE-India
Comprehensive Economic Partnership Agreement (CEPA) across various industrial sectors and activities.

In addition, a roundtable discussion featuring government officials, businessmen, and investors from both
countries was held with an objective to examine the potential economic, investment, and trade prospects

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