UAE, India working on bilateral investment
The Department of Economic Development (DED), says that India and UAE are working to give final shape to a Bilateral Investment Promotion and Protection Agreement (Bippa) to increase investments between these two countries.
As per the report, the agreement is aimed to bringing investments in to India from the UAE across several sectors like construction, downstream manufacturing in the petroleum and natural gas sector, as well as agriculture and food processing.
Mr. Saed Al Awadi, CEO of Dubai Export, says that with the liberation of main sectors in India there are good opportnities for UAE to invest in Indian market. As is well known, India is UAE’s main trading partner.
He further added the agreement will raise the economic links between the 2 countries.
The investments from UAE in India are mainly in sectors like power, metal industries, construction, services and information and communications technology (ICT).
A large number of Indians live in UAE who are contributing significantly to the national economy and mainly in Dubai.
As per the report, Indian membership was at 24,566 in 2012.
Source: mydigitalfc.com
Bilateral Investment Promotion and Protection Agreement, BIPPA, Construction, Department of Economic Development, Dubai, Food processing, ICT, India, Indian market, Information and communications technology, Metal industries, Saed Al Awadi, Trading partner, UAE
