Page 347 - MOE ENGLISH PR REPORT - JULY 2024

7/29/24, 2:04 PM UAE economy ministry holds investment talks in southern India
UAE Economy Minister Abdulla bin Touq Al-Marri led a 70-member
delegation to the event. He told the 300 participants that the UAE was “at the
gate to collaborate with our international partners.”

“It is imperative that we leverage our strength, we capitalize on emerging
trends, embrace innovation and as a catalyst for sustainable growth, it’s

imperative that we remain agile, adaptive and forward thinking.”

UAE Minister of State for Entrepreneurship Alia Abdulla Al-Mazrouei, who
was part of the delegation, urged both UAE and Indian stakeholders to take

advantage of the opportunity to explore partnerships in both markets.

“To those Indian businesses operating in new economy sectors, I invite you to

capitalize on the UAE’s highly incubating environment … to grow and scale at
a global level and champion technology and knowledge transfer within the
ecosystem,” she said.

India-UAE relations have grown considerably since 2022, when they signed a
comprehensive economic partnership agreement to boost trade and investment.

Since then, the number of exchanges between the two countries has increased
and trade has grown by more than 16 percent year on year, mostly in the
energy, infrastructure and construction, technology and innovation, pharma and

healthcare, tourism and cultural sectors.

India’s Ambassador to the UAE Sunjay Sudhir said relations between the two

countries had seen “rapid progress” over the past decade, resulting in a
“paradigm shift in bilateral ties.”

“Investopia has already become an important event in the calendar of Indian

businesses,” he told Arab News.

“As we continue to work together, I am confident that our strategic partnership

will enable our two nations to navigate complex global realities and will leave
a lasting impact on regional and global stability, economic growth and
governance frameworks.”

Chennai is located in Tamil Nadu, which is India’s second-largest exporter of
software, after Karnataka, and known for its automobile and engineering
industries. Manufacturing contributes 33 percent and agriculture 13 percent to

the state’s economy.

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