GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Banking and Investments

 
  Share
  • The third edition of UAE - India Economic Forum 2017 kicks off in Dubai focusing on the vision of reaching US$ 100 billion in bilateral trade by 2020 
  • The 2-day Forum serves as a window of opportunities to discuss regulations and policies for prospective investors and to understand the key areas of focus for government bodies
DUBAI – November 8, 2017:   The UAE Ministry of Economy plans to reaffirm its commitment to supporting the diversification and reinforcement of partnerships between the UAE and India as both the countries undergo new phases of economic growth, says the ministry's Asst. Undersecretary of Foreign Trade Affairs H.E. Juma Mohammed Al Kait. 
 
While delivering his keynote address at the UAE - India Economic Forum 2017, which kicked off in Dubai on Wednesday, HE Al Kait said that the UAE and India are aspiring for a new economic era. “The UAE is marching towards post-oil period supported by innovation, knowledge and entrepreneurship; meanwhile India is working on the establishment of a local common market, demonetization and activating the economic roles of women, among others.”
 
“India and UAE have built solid foundations as economic partners. A number of commercial and economic agreements between both the countries cover economic, trade and technical cooperation; avoidance of double taxation; and protection and promotion of investments. In the aviation sector, over 1,000 direct flights connect the UAE to the main cities of India every week,” he added. 
 
According to HE Al Kait, the Forum looks forward to further partnerships between both the countries in sectors like industrial, travel and tourism, agriculture, renewable energy, transport, education, health, technology, water, space and small and medium sized enterprises (SMEs). 
 
The third edition of the annual UIEF, organized to explore bilateral economic and commercial relations between the two countries to the next level, will conclude on November 9, 2017.  The Forum also conferred Qadat Al Tagheer Awards to prominent business leaders. The event is organized by UMS Conferences, part of UMS Group.
 
Commenting on the third edition of the UIEF, Alpana Roy, Executive Vice President at UMS Group, said, “The UIEF is organized at a time, when India and the UAE are shaping strategic ties across an array of shared interests with key stakeholders from both the nations as they engage in strategic discussions and catalyze economic growth. Today both the countries are pursuing economic and industrial policies and strategies that will further strengthen the bilateral trade and investments. 
 
“India and UAE have re-energised their bilateral trade relations, which have been boosted by the frequent visits of both countries' leaders in a short span of two years to discuss the future of trade and investments. India is the second largest trade partner for the UAE. Recent developments have further strengthened the relationship, opening a universe of opportunities. With both governments showing clarity in their vision to gain the most from this partnership, the previously ambitious goal of reaching US$ 100 billion in trade by 2020 now seems achievable,” she added. 
 
“The UIEF brings together the governments of the two countries, something that the forum has been successfully doing for the past two years. The Forum has now reached the next level with another set of key ministers from both sides, along with businessmen and investors who have been fueling the economy of their respective countries. Our belief in the economic prowess of the two countries has been confirmed by the support and encouragement we have received time and again through the backing and endorsements of key government bodies from both India and UAE. The presence of sovereign wealth funds, large corporates and industries at this gathering has been only getting stronger over the past two years.”
 
The UIEF brings together over 350 delegates from the UAE and India. Mohammad Azharuddin, Indian politician and former captain of Indian cricket team; H.E. Jamal Al Jarwan, Secretary General of the UAE International Investors Council; H.E. Fahad Obaid Al Taffaq, Director of Economic and Trade Affairs at the UAE Ministry of Foreign Affairs; Ashish Kumar Chauhan, Managing Director & CEO of Bombay Stock Exchange, to name few.
 
The Qadat Al Tagheer Awards were conferred upon Colm McLoughlin, Executive Vice Chairman & CEO of Dubai Duty Free (Retail CEO of the Year); Dr. BR Shetty, Founder & Chairman of NMC Healthcare (Indian CEO of the Year); Abhishek Sharma, CEO of Foundation Holdings (Emerging Indian CEO); PNC Menon, Chairman & Founder of Sobha Group (Excellence in Construction); Dr. Raza Siddiqui, Group CEO – Arabian Healthcare Group (Excellence in Healthcare); Kamal Vachani (Group Director Al Maya Group (Excellence in India-UAE Trade Promotion); Ambuj Khare, ProEd Education Consultancy (Emerging Education Brand); Amber Fernandes, Landmark Group (Retail Brand of the Year); Mouza Al Mehairi, Abu Dhabi Global Market (International Financial Centre of the Year); Arun Anirudhan, Abu Dhabi Ports (Excellence in Transport & Logistics); Harmeek Singh, Plan B (Best Emerging Emirati Brand); and Deepak Babani, Eros Group (Excellence in the Retail Sector). 
 
The list of speakers at the UIEF 2017 includes H.E. Saeed Al Shamsi, Deputy Director of Economic and Trade Affairs, Ministry of Foreign Affairs; H.E. Dr. Abdulla Al Karam, Chairman of the Board of Directors and Director General of Knowledge and Human Development Authority – Dubai; Dr. Ohan Balian, Chief Economist at Abu Dhabi Chamber of Commerce & Industry; Adel Al Wahabi, Chief Financial Officer, Abu Dhabi Ports; Mustafa Khdair, Head of Commercial, Khalifa Industrial Zone (KIZAD); Bindu Chettur, President, Indian Business & Professional Council; Dr. Rathin Roy, Director & CEO of National Institute of Public Finance & Policy in India; and Farrell Sheridan, Head of Strategic Development - Registration Authority, Abu Dhabi Global Market.
 
The UIEF focuses on the bilateral benefits of the increased collaboration in investment, trade, infrastructure, ports, banking, finance, and tourism between the UAE and India. The summit promises to provide exclusive insights into critical topics such as defense and security, tourism, banking and finance, renewable energy, and space technology. Building on decades of rich cultural and historical bonds between India and the Middle East, the combined partnership between India and the UAE has developed from its initial days of trade in timber, spices and ivory to one in which bilateral trade has grown over $59 billion in the past few years. 
 
The key industry sectors taking part in the Forum include infrastructure, real estate; roads, highways & ports, manufacturing, banking & finance, eCommerce, hospitality, healthcare, tourism & travel, defence & security, space technology, sustainable utilities and renewables, media & entertainment, education and free zones. 
 
The UAE and India share a common vision of progress and prosperity. The UAE investments in India have jumped by US$ 1 billion in the past one year alone, and the UAE is the second largest export destination for India, with US$ 30 billion for the year 2015–16. The total foreign direct investment inflows from UAE to India stand at US$ 4.03 billion ending March 2016. The UAE has been actively pursuing its plan to re-energise the Free Trade Agreement between the GCC and India. The Indian union cabinet gave the green signal to proceed with the Memorandum of Understanding (MoU) between India and the UAE to procure a US$-74-billion long-term investment in the National Investment and Infrastructure Fund (NIIF). 



Posted by : GoDubai Editorial Team
Viewed 4453 times
Posted on : Wednesday, November 8, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : UAE Ranks Number One amongst Next Emerging HR Hubs in Market Research Study
Next Story : Ourshopee Launches Online Shopping Website in Qatar
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Meet the FOREO family as they share their top tips for radiant skin during the ...
Three Trends to Try with Palladio Beauty
Care for your baby's sensitive skin with Corine de Farme
Do Explore More with Pandora
Ramadan-Inspired Sandro SS18 Pieces
Caudalie The Cleansing Collection
Charlotte Tilbury, the World's #1 Celebrity Makeup Artist, Announces the Opening...
Lexus sweeps two podium finishes at round two of 2018 AUTOBACS SUPER GT 500 series
Marchon Eyewear New Collections
MAC - Prep + Prime Fix +
Get Voluminous Eyelashes and Eyebrows with Rodial's Lash and Brow Booster Serum
New Master Maserati Driving Courses for 2018
Spinneys Puts Local Food Heroes in the Spotlight this Ramadan
‘Tree of Life' Continues to Change Lives at Arabian Center, This Ramadan
Ethereum - Second In A Series Of Exclusive Cryptocurrency Watches Launched
Glambeaute.com's Special Ramadan Beauty Packs
Mads Mikkelsen Spotted on Red Carpet at Cannes Wearing Ulysse Nardin Masterpiece
Pottery Barn Kids Launches Baby Registry Service to Welcome Newborns
1st Edition of Cannes International Film Festival From May 8 to 19, 2018
Pick what suits you from essence Spring/Summer 2018 nail polish collection
White Man & Woman Focuses on Innovation and Sustainability With Patagonia at Whi...
Karl Lagerfeld Celebrates Fall / Winter 2018 Collection
Breitling's Navitimer 8 Collection Arrives in The Middle East
Stay connected with your loved ones this Ramadan season with the Nokia smartphones
Make Ramadan Better With the Gift of Sharing
Hour Choice Presents Coach Perry Collections – Ramadan Exclusive
Facebook Launches Youth Portal, a Central Place for Teens
Aru Impressed with Team Spirit as Italian Champion Secures Top Ten Finish
Elvis Presley's OMEGA Sells for a World Record CHF 1,500,000 at Auction
Get Your Nails Summer Ready with FC Beauty
du Helps You Stay Connected this Ramadan with Exclusive Offers Throughout the Ho...
HP and DiSTI Join Forces to Reinvent Enterprise Training Using Virtual Reality
Global Rollout of LGG7 Thinq Gets Underway
Iftar at Roda Al Murooj
Celebrate Father's Day in 'Swiss Style' with Raymond Weil.
Revel in the all-new Mango Memory Menu – a summer treat by Moombai & Co
Dubai Festival City is the place to be this Ramadan
Etihad Airways Introduces Ai Robot Sophia to Abu Dhabi
Panasonic Continues to Raise the Bar for Excellent Customer Service
Emirates Post Offers Valued Discounts to Six Destinations this Ramadan
A Nose for Great Sound
OMEGA goes onshore in Newport to unveil the Volvo Ocean Race winner's watch
Word's Best Air Purifier Launched in Dubai
MINI Middle East launches partnership with ekar to provide premium cars to carsh...
Sheikh Juma launches his Asian Games preparations with NAS Run
Turkish Airlines Announced its 2018 April Passenger and Cargo Traffic Results
Lufthansa Group and Travix announce NDC partnership
Manero Flyback A Modern Take on a Retro Style
Defending champs Surprise down Raptor to reach semis
The Puppeteer Behind ‘Star Wars'