UAE and India explore investment opportunities in new economy and tourism sectors

UAE and India explore investment opportunities in new economy and tourism sectors

Abu Dhabi: H.E. Abdulla bin Touq Al Marri, UAE Minister of Economy, met with Shri Piyush Goyal, Indian Minister of Commerce, Industry, Consumer Affairs, Food & Public Distribution and Textiles; and Shri G. Kishan Reddy, Minister of Tourism and Culture of India recently, to discuss frameworks for strengthening economic and trade cooperation.

H.E. Bin Touq said that the UAE-India relations have evolved into an exceptional model of bilateral cooperation and fruitful partnership aimed at promoting sustainable development, economic welfare, and the steady prosperity of their people.

The Minister of Economy said: “The UAE-India relations are growing at a rapid pace, as Abu Dhabi and New Delhi seek to further build on existing cooperation in light of the Comprehensive Economic Partnership between the two countries. We are working towards boosting the volume of non-oil trade exchange, which reached AED 189 billion in 2022, up 15 per cent from 2021. We are working closely with our partners in the Indian government to establish mechanisms that will increase the volume of mutual investments and diversify them into new sectors. The UAE’s investment flows to India amounted to about AED 56.5 billion by the end of 2022, mainly in renewable energy and telecommunications, roads infrastructure, real