Goyal says EXPO 2020 set to galvanise India-UAE relationship
The United Arab Emirates (UAE) has invested US$11 billion in India between April 2000 and March 2021, becoming the country’s eighth largest investor, Commerce and Industry Minister Piyush Goyal said.
“India aspires to make significant progress in catalyzing the investments from UAE into India across the focus sectors, including Gems & Jewellery, Textiles, Pharma and IT,” he said during the inauguration of India Pavilion at the six-month long EXPO 2020.
“Over the years, UAE and India have built a strong relationship that goes beyond economic, cultural and political spheres. UAE has given opportunity to thousands of Indians to build their lives in the country, and Indians on their part have exhibited their expertise and contributed to the collective growth of the nation through several areas, including education, technology and entrepreneurship. Expo 2020 Dubai is set to galvanise this further,” Goyal said.
While India-UAE trade has also been impacted by the pandemic, it was valued close to US$60 billion in 2019-20 with UAE being India’s third-largest trading partner, and being the second-largest export destination for Indian products, the export values of which were approximately US$29 billion in 2019-20.
“The India Pavilion will showcase a modern, robust India — high on technology, while simultaneously exhibiting the beauty of Indian art, culture and cuisine during the 183 days that the event will run,” he said.
The EXPO 2020 in Dubai will end on 31 March 31 2022. #manufacturing #investment #exports #trade /fiinews.com
