Business

H.E. Abdulla bin Touq Al Marri, UAE Minister of Economy, held bilateral meetings with Shri M.K. Stalin, Chief Minister of Tamil Nadu, and Dr. T.R.B. Rajaa, Minister for Industry, Investment Promotion, and Commerce, to discuss strengthening cooperation in various sectors. The meetings, attended by H.E. Alia Bint Abdulla Al Mazrouei, Minister of State for Entrepreneurship, took place during a recent UAE delegation's visit to India.

H.E. Bin Touq conveyed the greetings of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, and highlighted the strategic economic, political, and cultural ties between the UAE and India. He emphasized the UAE's commitment to working with Indian partners to support the sustainable growth of both economies.

The discussions covered the UAE's National Tourism Strategy 2031, which aims to enhance the country's status as a top tourism destination and increase the sector's contribution to the national GDP to AED 450 billion. H.E. Bin Touq invited Indian investors to explore opportunities in the UAE's dynamic business environment, emphasizing the country's logistics capabilities and economic facilities.

H.E. Bin Touq also met with Dr. A. Sakthivel, President of the Federation of Indian Export Organizations (FIEO), and other business leaders to explore cooperation in export and re-export, textile machinery, and vehicle manufacturing. The meetings highlighted the UAE's unique economic enablers and the increasing opportunities for collaboration between the two countries.

The UAE's Foreign Direct Investment (FDI) in India spans several critical sectors, including renewable energy, software, IT services, and automotive manufacturing. The non-oil trade between the two countries exceeded USD 53.5 billion in 2023, reflecting a 3.9% growth rate compared to 2022

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