Buxani is new BLF president

dubai — Dr Ram Buxani, a veteran Dubai-based businessman, has taken over the helms of the Business Leaders Forum (BLF) from Dr Azad Moopen, the BLF’s founding president.

In his acceptance speech at an event held in Dubai, Dr Buxani said the BLF would aim to strengthen bilateral relations and facilitate in further boosting joint investments and bilateral trade to make the UAE India’s primary trade partner.

“During high level visits by leaders, both countries had decided to boost two-way trade by 60 per cent over the next 5 years. The BLF and its members will play a major role in realising this goal,” said Dr Buxani, who is also the chairman of the ITLCosmos Group.

He noted that the UAE is the largest Arab investor country in India, accounting for 81.2 per cent of the total Arab investments in India and is ranked 11th in the world in terms of foreign direct investments in India. Investments from the UAE to India exceed $11 billion and about $4-5 billion in the format of foreign direct investment. Around 2.8 million Indians living in UAE repatriate annually about $13.6 billion to India.

The BLF has been set up under the direct guidance of the UAE Ministry of Economy, Embassy of India and Consulate General of India, with the India Trade & Exhibition Centre acting as the official secretariat of BLF. The forum works directly with Indian government bodies, including ‘Invest India’ and Indian states to facilitate and channel investments into sector-specific projects in India.