Sunday, May 22 2022 | Time 03:29 Hrs(IST)
Business Economy

Indo-UAE global investment summit on May 24 at Dubai

New Delhi, May 20 (UNI) To promote the bilateral trade between India and Gulf Corporation Council (GCC) in areas such as infrastructure, construction, renewable energy and oil and gas among others, Indo-UAE Global Investment Summit–2016 will be held on May 24th at Dubai.
The Summit will also explore prospects for expansion and diversification of trade opportunities that already exists between India and GCC nations for enhancing their scope for future so that basket of two way trade is widened and broad-based by showcasing the business strengths of the respective countries during the summit.
The summit is being organized by PHD Chamber of Commerce and Industry in association with Brands Academy.
‘It is for the first time in recent history of any chambers of commerce and industry associations in India that such an initiative to organise a conference of this scale is taking place and that too at a place in Dubai from where the potential of GCC could be well explored to promote the cement business interests of India Inc with its counter parts in multiple sectors as identified above’ said the Vice President of the Chamber Mr. Anil Khaitan.
The Summit assumes a special significance since it is being held following a recent visit of Indian Prime Minister to Dubai on his way back home from USA and other countries in which he had specially laid and emphasis for closer economic and trade related corporation between India and Middle East given their potential and history of mutual respect.
The conference also assumes a significance in view of the fact that India has emerged as the new frontier of investment opportunities, especially with the new initiatives by its government to facilitate trade and investment, encourage the investment institutions of UAE to raise their investments in India, including through the establishment of UAE-India Infrastructure Investment Fund.
According to estimates, with this fund in place, it is expected that the trade basket of India and GCC would be reaching a target of 75 billion dollar in due course of time for rapid expansion of next generation infrastructure, especially also in railways, ports, roads, airports and industrial corridors and parks.
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