India seeks investment from Indian Diaspora in UAE |
Indian Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Piyush Goyal, pitched to the Indian Diaspora to invest in India unhesitatingly. Addressing the Indian People`s Forum Business Conclave in Dubai, Goyal said now was the right time for India`s vast expatriate community to invest in their motherland as there is a great opportunity for extraordinary growth in India. Goyal is in the UAE to inaugurate the India Pavilion at Dubai Expo. The official visit is being seen as a major step towards boosting Indo - UAE Strategic Partnership and taking trade and investment to unprecedented levels. The ongoing Expo is India`s window to the world, an opportunity to showcase India`s capability & potential. Goyal underlined that the 3.4 million strong Indian diaspora in the UAE acts as a bridge between the two countries. He said under the leadership of Prime Minister Narendra Modi India is seeing a rise in economic indicators despite the pandemic. The Indian Minister informed that the UAE government has committed to invest $75 billion sovereign funds in India and the two partners have a shared vision for clean energy as they are working together to start manufacturing equipment for solar power. Later in the day, at the ninth meeting of a joint task force on investments, the two nations discussed exploring mutually beneficial methods and incentives to facilitate further investment from UAE sovereign investment entities in key priority sectors in India.
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