India and the United Arab Emirates (UAE) fortified their bilateral trade relations at the recently held India-UAE Partnership Summit 2018 (IUPS), which took place between 30th – 31st October at Atlantis, The Palm, Dubai.
The two-day event focused on the promotion of investments from UAE to India and India to UAE facilitating networking opportunities amongst High Net Worth Individuals (HNI), Top Business Leaders, Industrialists, Investors, Bankers, Businessmen, Institutions, Chambers of Commerce, Professionals and Officials. The Summit also strengthened the relations between the two countries and its people and provided information on policy frameworks of governments. While several Indian states showcased their projects for UAE investors, the state of Delhi emerged as a top destination with its strategic investment opportunities.
“Delhi is not only the capital city of the most populous democracy of the world, but is the epitome of economic, political, social and cultural development of India. With the cooperation of our fellow citizens, we, the government of NCT of Delhi aim to transform the city into a global centre of finance, trade, education, health-care and tourism. Our efforts have been channelised to develop new areas for investment and existing processes are being re-engineered to provide transparent and efficient systems not only for the people, but also for businesses and industries to set up their base and flourish. We have outlined strategic plans in three green field industrial projects located at Rani Khera, Baprola and Kanjhawala in the outer Districts of the National Capital Territory to house hi-tech, knowledge based and non-polluting industrial units and ancillary processes which will offer immense scope for investment and entrepreneurship,” said Delhi’s hon’ble Minister of Health, Industries, Public Works Department, Power, Home, Transport and Urban Development who was present at the IUPS Summit.
A modern hub – Delhi is the focus for majority of the socio, economic and political activities. Replete with global educational institutions, health centres, retail chains and much more, Delhi boasts of one of the largest metro network – Delhi Metro, National Highway Network, well established road network, airports and railway connectivity. In addition, the city is home to several government offices and is one of the most preferred business destinations in the country.
Delhi was represented at the Summit on behalf of Delhi state organisation – Delhi State Industrial and Infrastructure Development Corporation (DSIIDC).
“Delhi has always been committed to the upliftment of green areas and has launched innovative projects which will position the city as a top green hub on the global map. The layout has been approved by the local agency, and the environment clearance will soon be processed. Through the medium of this strategic platform, we aim to showcase our environmental capabilities to the investors in the UAE and encourage them to discover new areas of cooperation in different sectors,” said Mr. Mohanjeet Singh, Managing Director, Delhi State Industrial and Infrastructure Development Corporation (DSIIDC).
The UAE is the tenth largest FDI source market for India with cumulative FDI reaching $4.76 billion in the last 17 years from April 2000 until March 2017. While the Summit is a big step for industries from the UAE to realise the potential of Delhi, it will also offer them an opportunity to foster ties with India’s capital city.