Partnership Between UAE-India is Better For Economic Growth: AI Marri

The Minister of Economy, Abdullah bin Touq Al Marri said, "The UAE-India partnership is a driver for economic growth that creates trade and investment opportunities for over 3.8 billion people. Our solid economic partnership contributes to the vitality of trade and investment flows in South Asia and through it towards regional and global markets."

He also said, "The two countries are accelerating efforts, hand in hand, to develop our economies and adopt plans, strategies, and initiatives that support our visions for expansion and investment in the new economy sectors. Through this important economic event, we look forward to enhancing bilateral trade with India in the fields of technology, digital payments, innovation, green energy, healthcare, communication, logistics, transport, waste management, and space technology."

The minister has participated in a session titled "Is Minilateralism the Future of Global Trade?" The Session was also attended by Sanjeev Bajaj, President of CII; Chandragit Banerjee, Director-General of CII; and multiple UAE and Indian companies. "The two countries' economies were among the fastest growing in the world in 2022, characterised by a fast pace of economic growth. The UAE economy grew by 7.6 per cent last year, and according to the World Bank estimates, the Indian economy's GDP achieved a yearly growth of 7.7 per cent in the first nine months of the fiscal year 2022-2023. This indicates the number of economic opportunities that are available in our markets, encouraging the UAE and Indian private sectors to seize this opportunity to further the prospering economic partnership between the two countries," the Minister of Economy said.

Abdullah bin Touq Al Marri talked about various economic policies and the entire measures that UAE has adopted for trade, investment, and business environment. He said UAE attracted AED 20.7 billion in FDI in 2021, with a growth rate of 4%.

READ ALSO:

A Slowdown in Foreign Direct Investment Fell 16% in FY23

India is Going to be the Fastest-growing G-20 Economy in Coming Years: Moody’s