Commerce and Industry Minister Piyush Goyal invited the business community of the United Arab Emirates (UAE) to take advantage of the business-friendly policies and opportunities that India is offering to global businesses. “With the cost and confidence benefits that India offers, it is time to invest in India. As partners, we can secure each other’s economic future and strengthen our partnership in the post-COVID-19 world,” Goyal said while speaking at India’s Honor Day celebrations at Expo 2020 in Dubai.
He said that the country is now on the cusp of growth and development in the years to come. “India offers talent and investor-friendly policies. In most sectors, FDI is 100% open. We have taken several new initiatives to boost the industry like production linked incentive scheme and Make in India policy,” he said. “Let’s experience India – the land of opportunities,” he told the global business community.
Goyal said that the next 25 years in India will be a symbol of a strong and inclusive India. He said the word “trust” describes India-UAE relations. “Our relations will remain alive and grow from strength to strength,” the minister said.
On the recently signed India-UAE free-trade agreement, which is likely to come into force from May 1 this year, the minister said the Comprehensive Economic Partnership Agreement (CEPA) is a win-win agreement for the betterment of the people of both the countries. Country.
The CEPA, signed in February, aims to increase bilateral trade from the current US$60 billion to US$100 billion over the next five years. Goyal said on Monday that the two countries should consider taking bilateral trade to $250 billion by 2030.
“The special partnership of Prime Minister Narendra Modi and His Highness Sheikh Mohamed bin Zayed Al Nahyan is legendary,” the minister said.
He said that it is a bond of eternal friendship that is a sign of trust and that “we are natural partners due to the complementary nature of our economies and the growth in trade will always reflect the synergy that strengthens our bonds between the two countries.” “.
On the stupendous success of Dubai Expo, the Minister said that it is a victory of courage over adversity. “The Expo will go down in history as a memorable chapter where the two brothers came closer. It will end but the memories will remain. India Pavilion is going to be a permanent structure; It’s not going to be broken. This will stand as proof of working for the collective good of the people of both our countries.”
One of the largest and most prestigious pavilions at Expo 2020 Dubai, the India Pavilion, which was inaugurated by Goyal, has witnessed over 1.6 million visitors since its inauguration on October 1, 2021. Expo 2020 Dubai concludes on 31st March.
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