India is ‘the’ destination for UAE businesses: Piyush Goyal
The UAE is India's second-largest export destination
Union Minister of Commerce & Industry Piyush Goyal, who is in Abu Dhabi to attend the UAE-India Startup Forum 2022, invited the business community from the Arab country to come and capitalise on the business-friendly policies and the opportunities that the emerging India offers to global businesses.
“With the cost and trust advantage 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 world,” said Goyal on Tuesday.
While addressing India’s Honour Day Celebrations at Expo2020 in Dubai, Goyal said, “I believe we are now at the cusp of growth and development in the years to come. India provides talent and investor friendly policies. In most sectors, FDI is open 100%. We have several new initiatives to promote industry like the Production Linked Incentive scheme and the Make in India policy, our efforts to provide ease-of-doing-business, all of which will lead to ease of living for our people,” he added.
“To the global community, I say, 'Come experience India – the land of opportunities'. Let’s grow together, let’s change together, let’s transform together because together we can surmount any obstacles and achieve humongous goals and targets beyond anyone’s imagination,” said the Minister.
According to Goyal, the new India is fearless and confident. “Next 25 years in India will signify a strong and inclusive India.”
Underlining the leadership of the Prime Minister Narendra Modi and His Highness Sheikh Mohamed bin Zayed Al Nahyan of the UAE, Goyal said ‘trust’ is the defining factor of the India-UAE relationship.
“Today we are natural partners due to the complementary nature of our economies and increasing trade will always showcase the synergy that our two nations have, strengthening further our eternal bonds. Our ties will remain vibrant, will grow from strength to strength and in the years to come will showcase huge opportunities for people from both nations,” he said.
As part of the CEPA pact, Goyal said, India’s prestigious Indian Institute of Technology (IIT) will open its first overseas campus in the UAE, highlighting the shared vision between the two countries.
“The Comprehensive Economic Partnership Agreement (CEPA) is a win-win agreement for the good of the people of both the countries,” he added.
On the grand success of Dubai Expo which is slated to conclude tomorrow, the Minister said that Expo2020 is victory of courage over adversity.
Goyal lauded the UAE leadership for their relentless efforts for making the Dubai World Expo a grand success with a footfall touching close to 25 million in the last six months since its inauguration.
“The Expo will go down in history as a memorable chapter where the two brothers came closer. It will conclude but the memories will remain. The India Pavilion is going to be a permanent structure; it is not going to be dismantled. It will stand as a testimony to our two countries working towards the collective good of the people,” added the Minister.
The India Pavilion, one of the largest and most iconic pavilions at EXPO2020 Dubai, recorded more than 1.6 million footfalls since its inauguration by Piyush Goyal on October 1st last year.