UAE-India summit seeks to boost relations further

India has been receiving a record level of commitment to the tune of more than $52 billion from investors across the GCC

Sudesh Aggarwal, chairman of the IUPS Organising Committee

dubai — Ministers, high-ranking officials and business leaders from the UAE and India will meet in Dubai in October to explore emerging opportunities and prospects in stepping up the two-way investment and economic ties.

The second India-UAE Partnership Summit (IUPS) and the Investment Expo running from October 30 to 31 at Dubai’s Atlantis Hotel will highlight the vast investment potential in India and the UAE and will also seek to create awareness among investors about the myriad opportunities for joint ventures and economic cooperation both countries offer.

The twin events, organised by the Business Leaders Forum (BLF), have been designed as an interactive platform to encourage investments into specific sectors and projects in two countries, especially those promoted by five participating Indian States, and the “focus emirate” of Sharjah.

Sudesh Aggarwal, chairman of the IUPS Organising Committee, said the summit would facilitate the dissemination of data on investment and joint venture opportunities while creating awareness on policy framework of respective governments. “The focus of the second edition of IUPS will be on education, skill development and placement, and SMEs. However, participants will also be exploring the possibilities of deeper cooperation in other sectors of mutual interest, including hydrocarbon, civil aviation, maritime, renewable energy, space and exploration, to name a few,” said Aggarwal.

The summit has gained more significance at a time when India is witnessing a major upswing in investment flow from several UAE entities, including the Abu Dhabi Investment Authority and DP World. “Following the exchange of high-level state visits by leaders of both nations over the past few years, bilateral economic, investment and trade ties have been booming. As one of the fastest growing economic powerhouses, India has been receiving a record level of commitment to the tune of more than $52 billion from investors across the GCC over the past one year. The IUPS will seek to take the thriving economic and investment ties to higher level,” said Aggarwal.

“What we are aiming to achieve is to connect the government and business communities of both countries to forge new partnerships and prosper,” he said.

Sripriyaa Kumaria, secretarygeneral of the BLF and directorgeneral of ITEC, said Abu Dhabi and Sharjah are joining the IUPS as focussed emirates to showcase their projects to Indian investors.

“We believe the summit will help us to gradually bring all Indian states and the UAE closer and create a state-to-state cooperation platform.”