New Delhi (ABC Live): India UAE Joint Statement was signed between India and UAE issued on 17th August, 2015, it was decided to establish India-UAE Infrastructure Investment Fund, with the aim of reaching a target of USD 75 billion to support investment in India’s plan for rapid expansion of next generation infrastructure, especially in railways, ports, roads, airports and industrial corridors and parks.
During the recent visit of UAE delegation led by Minister of Foreign Affairs, an India-UAE Business Forum was organized to encourage UAE investors to raise their investments in India. Presentations were made before the Business delegation especially in the field of Infrastructure Investment Fund, Make in India Initiative and on investment opportunities in Electronics, Ports, Railways, National Highways, Construction, Delhi-Mumbai Industrial Corridor projects.
During the recent visit of the Hon’ble PM to UAE, as per India-UAE Joint Statement it was decided to boost India –UAE trade by 60% in the next five years. The initiative offers scope for UAE investors in as many as 25 sectors including infrastructure, energy including renewable energy, defence, railways and highways.
This information to India-UAE Joint Statement was given by the Minister of State(Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.
Prime Minister Narendra Modi began a two-day visit to the UAE, the first state visit by an Indian Prime Minister to the country in 34 years.Prime Minister of India Shri Narendra Modi visited the United Arab Emirates from 16–17 August 2015 at the invitation of His Highness Crown Prince Mohamed Bin Zayed AI Nahyan.
In a break from protocol which would have seen only Foreign Minister Sheikh Abdullah receive dignitaries, Crown Prince Sheikh Mohammed Bin Zayed Al Nahyan, along with his five brothers, was also present to receive Modi.
The aim of the visit was to increase bilateral cooperation in energy and trade, and market India as an attractive business destination. In Abu Dhabi, His Highness Crown Prince Mohamed Bin Zayed AI Nahyan and Prime Minister Shri Narendra Modi agreed to seize this historic moment of opportunity and shared responsibility to chart a new course in their partnership for the 21st century.