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7/29/24, 2:04 PM Investopia Global talks launched in Chennai, India to strengthen UAE-India economic partnership in emerging and sustainable …
been successful. Over the past three years, Investopia Global Talks has visited over 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 local, regional and global

levels.

HE ADDED that the UAE and India share a vision of adopting a new and sustainable economic
model, which underlines Investopia’s key role in promoting and supporting the implementation of
this vision in the government and private sectors of both 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 2022, ranking 5th in the world in terms of real GDP growth rate.
Meanwhile, India’s GDP grew by 8.4% in the last three months of 2023. These figures reflect the

dynamics of economic opportunities in the markets of both countries in the next phase, given their
outstanding economic partnership.

HE Bin Touq said, “We introduced the inaugural Investopia Global Talks in India in 2021 with two
sessions in Mumbai and New Delhi. Today, we mark a new milestone in the southern Indian city of

Chennai, underlining the importance we attach to the Indian private sector as a key economic and
investment partner for the UAE business sector. This is of great significance considering that at the

end of the first half of 2024, there were over 232,000 Indian commercial licenses operating across
various economic sectors and businesses in the UAE markets. In the same period of the first six
months of this year, 20,000 Indian commercial licenses were registered.”

“The selection of Chennai, India as the venue for Investopia Global Talks is due to its strong

economic foundations in emerging and innovative sectors such as electric vehicles, software
development, medical tourism, sustainable manufacturing, data centres and the growth of the

fintech sector. This positions Chennai as a key hub to support attractive investment prospects in
these sectors that are crucial for the UAE private sector to explore and leverage. The Government
of India has set an ambitious target for Chennai to achieve a trillion dollar economy by 2030 through

sustainable sectors and initiatives, cutting-edge innovation, e-commerce and talent upskilling,”
added HE.

HE Alia Al Mazrouei, Minister of State for Entrepreneurship, said: “In line with the directives of its

wise leadership, the UAE attaches great importance to the development of the SME sector, which is
a key partner in promoting the growth and sustainable development of the national economy. SMEs
currently constitute 94 percent of all private sector enterprises in the UAE and contribute 40 percent

to the UAE’s GDP.” HE stressed that the Ministry of Economy has set a target to increase the
number of SMEs operating in the country’s markets to one million by 2030. This target aims to

support the UAE’s GDP growth to AED 3 trillion over the next decade, which is in line with the goals
set out in the “My UAE 2031” vision.

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