AMN / UAE
India’s Minister of Commerce and Industry Piyush Goyal has said that the growing friendship and cooperation between India and UAE will offer tremendous opportunities for businesses between both the countries.
Addressing the meeting of top business leaders from India and UAE hosted by Abu Dhabi Chamber, he said that the crucial areas of collaboration between India and UAE range from food security, education, energy security, climate change mitigation to space technologies. He added that the promotion of each other’s cultures and initiatives like the Startup20, B20, the UAE-India Business Council and Bharat Bazaar will play important role between two nations.
Mr Goyal emphasized UAE’s pivotal role in this partnership, as India’s second-largest export destination, third-largest trade partner, and the largest investor in terms of foreign direct investment. He added that the Comprehensive Economic Partnership between the two countries forms a strong foundation for collaboration.
The Minister stated India’s role as a large market with 1.4 billion aspirational citizens, presenting a significant opportunity for businesses in the UAE. He encouraged businesses to seize these opportunities and collaborate in the spirit of cooperation and competition. He said that India has witnessed remarkable economic growth transforming from one of the fragile five economies globally, to now being the world’s fifth-largest economy. Mr Goyal highlighted this impressive journey and the ambitious goal of becoming the world’s third-largest economy within the next four years.