Investors from United Arab Emirates in a recently held conclave have decided to set up a $75-bn structure fund for India to invest in brown field infrastructure projects with a shorter turnaround time. The investors were unanimous that brown field projects, among other things command shorter turnaround times and constituting retro-fitting existing infrastructure and are more viable and evoked greater attention. Participants deliberated over vital issues pertaining to speeding expediting the investment mechanism in India. UAE investors also showed interest in India's healthcare sector, especially in the Tier 1 and 2 cities where there’s a large population base with a high propensity to spend on healthcare. There are direct economic gains to cover the strategic goal of safeguarding and boosting both the countries status as major trade hubs and key gateways to regional and international markets, HE Mohammed Sharaf, Assistant Foreign Minister for Economic and Trade Affairs, UAE, said. He also noted that there is $35.8 billion non-oil trade and $6.9 billion oil trade in 2016 between the two countries. With this volume of bilateral trade, India remains as the second largest market for the UAE‘s oil and non-oil exports, while the UAE represents the second largest market for Indian goods worldwide, he added.
📅Published on:
13 October 2017
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