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Media Center - Press Releases - UAE & INDIA: New Horizons of Business Cooperation
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UAE-INDIA: New Horizons of Business Cooperation
Hotel Taj Mahal Place & Towers, Mumbai, 12 February 2016

Embassy of United Arab Emirates in New Delhi jointly with Confederation of Indian Industries (CII) and UAE-India Business Council (UIBC) organised the business summit “UAE & India: New Horizons of Business Cooperation” at Hotel Taj Mahal Place & Towers, Mumbai, 12 February 2016 coincided with the state visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to India.

Speaking at the event His Excellency Sultan bin Saeed Al Mansoori, Minister of Economy, UAE highlighted the strong UAE – India Business relations mentioning that there are 3 key pillars for the growth of bilateral trade between the two countries i.e. UAE investment, India’s manufacturing prowess & skilled workforce and rapidly growing Indian economy and policy reforms. He mentioned that in the current global market scenario, India’s economic growth is encouraging and commendable. 

H.E. Mansoori mentioned that both sides have agreed to create a $75 billion fund to invest in India. India has a strong skill set and manufacturing prowess. He appreciated the Indian Government’s determination to further strengthen this base and said that ‘the Make in India’ initiative will help garner the right momentum and focus towards this objective. 

During his inaugural speech, Mr Ahmed Hareb Alfalahi, Commercial and Trade Attaché of the UAE to India, stressed that the visit of H.H. Sheikh Mohamed bin Zayed would achieve positive results in the area of trade between the two countries. He mentioned that UAE-India trading relations are over centuries and it is right time to advance it further as Central and State Governments in India putting afford making India Investor friendly.

He further said “India GDP growth is more than 7 percent annually which incite business community to come and setup their businesses here. India is on the right tracks. Never the less we should keep in mind that India is a large nation with population over 1.2 billion and change happening will take time and it will not start reflecting very next day.”

Explaining the depth of UAE-India business relations, Mr Alfalahi said that India is UAE number one trading partner with non-oil bilateral trade of more than US $ 28 billion and if we add free trade zones trade exchange, the figure goes to US $ 34 billion. He also underlined that around 8 million passenger from India flew by only two of UAE national carriers Etihad and Emirates.  

Mr Chandrajit Banerjee, Director General, Confederation of Indian Industry highlighted the tremendous scope for the two countries to cooperate in terms of disease prevention, joint research on lifestyle diseases such as heart disease, hypertension and diabetes. In the presentation on “Digital India”, Dr. Ajay Kumar, Additional Secretary, Department of Electronics and Information Technology, Ministry of Communications & IT, Government of India, outlined the opportunities that present for UAE businessmen in India. Mr Yusuff Ali M.A., Co-Chairman, CII Gulf Council & Chairman & Managing Director, Lulu Group International, Mr Mahesh Sachdev, President, UAE-India Business Council also spoke at the session.  

A separate panel discussion was also held focusing on the manufacturing and service sector opportunities. This was mainly to discuss the policy dynamics and examine the ways to engage with stakeholders in both countries to strengthen cooperation in the sectors like Healthcare, ICT & Construction etc. The panelist included were Mr. Deepak Premnarayen, Member-CII International Council, Mr. Ganesh Natarajan, Vice Chairman & CEO of Zensar Technologies, Mr. P.P Yadav, General Manager-in-Charge of International Operations, Bharat Heavy Electricals Limited, Mr. Anil Singh, Vice President, DP World and Mr. Rashed Al Tayer, CEO, Pretlist.com.
 
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Embassy of the United Arab Emirates
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