Discussing and strengthening relations, India sets up Plus desk to facilitate investment from UAE

New Delhi, October 16: With Prime Minister Narendra Modi discussing ways with various oil companies amidst the increasing crude oil prices and fuel prices in the country, India has grown as a country has given other countries a wide spectrum to invest.

India and the UAE on Monday discussed ways to increase investments in areas including highways, airports and infrastructure. The issue was discussed during the meeting of the UAE-India High Level Joint Task Force on Investments. Commerce and Industry Minister Suresh Prabhu announced a fast track mechanism between India and the UAE to attract investments.

Commerce and Industry Minister Suresh Prabhu said in a series of tweets said, "Both sides deliberated on opportunities for cooperation and investment in both countries. Also discussed in specific detail a number of potential investment projects in India, in the highways sector; infrastructure corridor projects, Sagar Mala projects and new greenfield airports.”

 

"Announced special, dedicated UAE Plus desk to be constituted under Invest India with Arabic speaking officials to help (facilitate investments).” During the meeting, both sides held discussions on the opportunities for cooperation and investment in the Railways, logistics, highways, airports and infrastructure sectors. Both sides also expressed satisfaction on the ongoing strong engagements in the hydrocarbon sector.

 

Suresh Prabhu said that both the sides reviewed progress in addressing the agreed actions in the previous meeting at Abu Dhabi in January. The bilateral trade between the countries stood at USD 49.88 billion in 2017-18, as against USD 52.7 billion in the previous fiscal.

The UAE is the tenth largest investor in India. In 2017-18, India received USD 1.05 billion foreign direct investment from that country.