DUBAI: India’s finance minister will shed light on the business and investment opportunities in India regarding Make in India and Digital India initiatives at the inaugural Arab India Economic Forum, scheduled to be held from November 16 to 17 in Dubai.
Arun Jaitley, who is set to launch the forum in the UAE emirate, will also highlight energy (traditional and renewable), infrastructure, financial services and tourism, including medical and wellness tourism, according to a communiqué from Consulate General of India, Dubai.
The two-day event is expected to attract over 300 delegates, mainly political and business leaders from the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, Jordan, Egypt and India.
Arab India Economic Forum will feature discussions on the extensive economic opportunities that can be leveraged between Arab nations and India for investment as exemplified by the activities of leading companies from the region like Saudi Arabia Basic Industries Corporation, DP World, and Jumeirah Group.
The forum will also address the policy framework and guidelines required to draw the attention of Arab investors and industrialists while providing a strong platform for Indian businesses aiming to explore the Middle East market.
India’s finance minister will address an elite gathering of senior dignitaries, government officials and business leaders from around the Arab region.
Jaitley will be joined by a panel of speakers from Dubai Department of Economic Development and Mumbai Stock Exchange as well as invited speakers from Ministry of Tourism, India; Ministry of Economy, UAE; Ministry of Commerce and Industry, Saudi Arabia; and Ministry of Economy and Commerce, Qatar.
Aimed at discussing strategies and solutions to meet investor challenges in India, the forum also builds on the new vigour which the Indian Prime Minister Narendra Modi’s visit brought to Indo-UAE relations in August 2015. His visit was followed by the India-UAE Joint Commission meeting on Technical and Economic Cooperation, co-chaired by Sheikh Abdullah bin Zayed Al Nahyan, UAE foreign minister, and Sushma Swaraj, India’s minister of external affairs.
The Arab-India Economic Forum is being supported by Consulate General of India – Dubai with Bloomberg Businessweek Middle East as the media partner.
As per official reports, India is the UAE’s second largest trade partner after China as trade between India and the UAE crossed $59 billion per year, with Indian exports worth $33.3 billion to the UAE and $26 billion worth of UAE’s exports to India. The relationship is set to get stronger under the new government which is keen to implement investor friendly policies. The ‘Make in India’ initiative is expected to provide a much needed boost to the Indian manufacturing sector, much of which will be exported and re-exported via Dubai, UAE.
