The Indian government has announced plans to establish an Invest India office in Dubai, marking a significant step towards attracting investments from the UAE. Union Minister for Commerce and Industry Piyush Goyal revealed this initiative during a press briefing following the 12th meeting of the India-UAE High-Level Task Force on Investment. This office will serve as a dedicated point of contact for potential investors from the UAE looking to invest in India as detailed in a report by The Press Trust of India.

The meeting, co-chaired by Goyal and Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority, focused on reviewing progress on various key initiatives aimed at strengthening economic ties between the two nations. Among the topics discussed were bilateral trade in local currencies, integration of payment systems, cooperation on central bank digital currencies, and the development of a virtual trade corridor.

Goyal emphasised that the India-UAE partnership is built on pillars of innovation, investment, and sustainable development. He stated, "The Joint Task Force meeting today was useful to take stock of all the laudable initiatives that India and the UAE have jointly undertaken." He encouraged stakeholders to explore further investment opportunities facilitated by the robust framework provided by the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and the Bilateral Investment Treaty (BIT).

The establishment of the Invest India office in Dubai is particularly noteworthy as it will be the first overseas office of Invest India in that region and only its second globally after Singapore. This move is expected to significantly enhance collaboration between Indian and UAE businesses, particularly given that the UAE is already India's largest Arab investor with investments amounting to approximately USD 3 billion in FY 2023-24.

Recent statistics according to the PTI report reveal that non-oil trade between India and the UAE reached USD 28.2 billion in the first half of 2024, reflecting a year-on-year increase of 9.8 per cent. The two nations are also exploring investments across various sectors including energy, artificial intelligence, logistics, food, and agriculture, which collectively total around USD 100 billion.

In addition to opening the Invest India office, Goyal announced plans for the first overseas campus of the Indian Institute of Foreign Trade (IIFT) in Dubai. This initiative aims to benefit the approximately 3.5 million-strong Indian community residing in the UAE.

The meeting also highlighted ongoing projects such as Bharat Mart, which is designed to leverage Jebel Ali Port's strategic location to enhance India's exports globally. Progress is being made on design work for retail spaces and warehousing facilities.

Moreover, discussions included advancements in digital payments through collaboration between India's National Payments Corporation and Al Etihad Payments in the UAE. The introduction of a domestic card scheme named JAYWAN aims to facilitate seamless cross-border transactions between both countries by interlinking national payment platforms.

Goyal concluded by stating that these initiatives will not only boost investor confidence but also create job opportunities and enhance food security for both nations. The new BIT is expected to provide a stable tax regime and a framework for resolving potential issues between Indian and UAE companies.

As these developments unfold, both nations are poised to strengthen their economic ties further, paving the way for increased investment flows and collaborative ventures that will benefit both economies.

The Indian government has announced plans to establish an Invest India office in Dubai, marking a significant step towards attracting investments from the UAE. Union Minister for Commerce and Industry Piyush Goyal revealed this initiative during a press briefing following the 12th meeting of the India-UAE High-Level Task Force on Investment.

The Indian government has announced plans to establish an Invest India office in Dubai, marking a significant step towards attracting investments from the UAE. Union Minister for Commerce and Industry Piyush Goyal revealed this initiative during a press briefing following the 12th meeting of the India-UAE High-Level Task Force on Investment. This office will serve as a dedicated point of contact for potential investors from the UAE looking to invest in India as detailed in a report by The Press Trust of India. The meeting, co-chaired by Goyal and Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority, focused on reviewing progress on various key initiatives aimed at strengthening economic ties between the two nations. Among the topics discussed were bilateral trade in local currencies, integration of payment systems, cooperation on central bank digital currencies, and the development of a virtual trade corridor. Goyal emphasised that the India-UAE partnership is built on pillars of innovation, investment, and sustainable development. He stated, "The Joint Task Force meeting today was useful to take stock of all the laudable initiatives that India and the UAE have jointly undertaken." He encouraged stakeholders to explore further investment opportunities facilitated by the robust framework provided by the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and the Bilateral Investment Treaty (BIT). The establishment of the Invest India office in Dubai is particularly noteworthy as it will be the first overseas office of Invest India in that region and only its second globally after Singapore. This move is expected to significantly enhance collaboration between Indian and UAE businesses, particularly given that the UAE is already India's largest Arab investor with investments amounting to approximately USD 3 billion in FY 2023-24. Recent statistics according to the PTI report reveal that non-oil trade between India and the UAE reached USD 28.2 billion in the first half of 2024, reflecting a year-on-year increase of 9.8 per cent. The two nations are also exploring investments across various sectors including energy, artificial intelligence, logistics, food, and agriculture, which collectively total around USD 100 billion. In addition to opening the Invest India office, Goyal announced plans for the first overseas campus of the Indian Institute of Foreign Trade (IIFT) in Dubai. This initiative aims to benefit the approximately 3.5 million-strong Indian community residing in the UAE. The meeting also highlighted ongoing projects such as Bharat Mart, which is designed to leverage Jebel Ali Port's strategic location to enhance India's exports globally. Progress is being made on design work for retail spaces and warehousing facilities. Moreover, discussions included advancements in digital payments through collaboration between India's National Payments Corporation and Al Etihad Payments in the UAE. The introduction of a domestic card scheme named JAYWAN aims to facilitate seamless cross-border transactions between both countries by interlinking national payment platforms. Goyal concluded by stating that these initiatives will not only boost investor confidence but also create job opportunities and enhance food security for both nations. The new BIT is expected to provide a stable tax regime and a framework for resolving potential issues between Indian and UAE companies. As these developments unfold, both nations are poised to strengthen their economic ties further, paving the way for increased investment flows and collaborative ventures that will benefit both economies.

Government to open invest India office in Dubai to boost UAE investments

In a crucial move to shape the future of the United Arab Emirates (UAE), Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, has announced a nationwide action plan for 2025. This ambitious plan focuses on three pivotal areas: strengthening the family unit, promoting Emirati identity, and driving advances in artificial intelligence.

Speaking after chairing the latest UAE Cabinet meeting at Qasr Al Watan, Sheikh Mohammed emphasized the importance of these three key priorities. He called on all parties to contribute to shaping the country's strategies in these sectors for the year ahead. This initiative is set to be a top agenda item at the government's annual meeting in Abu Dhabi on November 5.

The focus of government expenditures was on public security and safety, health, education, economic affairs, social protection, housing and utilities, Sheikh Mohammed elaborated on X. By doing so, the UAE seeks to create a more stable and nurturing environment for its citizens.

Promoting Emirati Identity; driving artificial intelligence advancements<o:p></o:p>

Promoting Emirati identity is another critical component of the 2025 plan. The government is committed to preserving and celebrating the rich cultural heritage of the UAE. This involves various cultural and educational programs designed to instill a sense of national pride and identity among the Emirati people. By fostering a strong sense of identity, the UAE aims to build a more unified and resilient society.

Further, artificial intelligence is another key area of focus for the nation’s action plan. The government is keen to leverage artificial intelligence to drive economic growth, improve public services, and enhance the overall quality of life for its citizens. This includes investing in artificial intelligence (AI) research and development, as well as implementing AI solutions across various sectors such as healthcare, education, and finance. The UAE's vision is to become a global leader in AI innovation and application.&nbsp;

Basic facts about United Arab Emirates

The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a federal, elective monarchy composed of seven emirates, with Abu Dhabi as its capital. It shares land borders with Oman to the east and northwest, and with Saudi Arabia to the southwest; as well as maritime borders in the Persian Gulf with Qatar and Iran, and with Oman in the Gulf of Oman.

As of 2024, the UAE has an estimated population of about 10 million, of which 11 per cent are Emiratis. Dubai, is the nations most populous city, and is an international hub. Islam is the official religion and Arabic is the official language, while English is the most spoken language and the language of business.

UAE has witnessed remarkable growth post Covid-19<o:p></o:p>

The UAE's economic growth has been remarkable, especially in the post-coronavirus era. Sheikh Mohammed highlighted the country's impressive economic statistics, including a government revenue of Dh546 billion in 2023, with Dh402 billion in expenditure. The most significant government expenditures were in public security and safety, health, education, economic affairs, social protection, housing, and utilities and the nation looks to continue on this path of economic growth.

The number of companies operating in the Emirates has surged to over a million by mid-2024, up from 405,000 in the first half of 2020. This represents a staggering 152 per cent increase, reflecting the UAE's robust economic recovery and growth. The country is now ranked fifth in the world in terms of gross domestic product growth and has attracted a record Dh112 billion (Dirham) in direct foreign investment.

Combating financial crimes and building international collaborations<o:p></o:p>

In addition to its economic and social initiatives, the UAE is also taking significant steps to combat financial crimes. The cabinet has adopted the national strategy for combating money laundering, terrorism financing, and arms proliferation. This policy aims to monitor the practices of financial institutions and virtual asset providers, ensuring a safer and more transparent financial environment.

The nation is also expanding its international collaborations. Ministers have approved the restructuring of the Supreme committee for free trade negotiations, headed by the Minister of Economy. Furthermore, the UAE has joined the Nationally Determined Contributions Partnership, an international alliance focused on promoting sustainable development goals and supporting measures to adapt to climate change.

<o:p>&nbsp;</o:p>

In a crucial move to shape the future of the United Arab Emirates (UAE), Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, has announced a nationwide action plan for 2025.

In a crucial move to shape the future of the United Arab Emirates (UAE), Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, has announced a nationwide action plan for 2025. This ambitious plan focuses on three pivotal areas: strengthening the family unit, promoting Emirati identity, and driving advances in artificial intelligence. Speaking after chairing the latest UAE Cabinet meeting at Qasr Al Watan, Sheikh Mohammed emphasized the importance of these three key priorities. He called on all parties to contribute to shaping the country's strategies in these sectors for the year ahead. This initiative is set to be a top agenda item at the government's annual meeting in Abu Dhabi on November 5. The focus of government expenditures was on public security and safety, health, education, economic affairs, social protection, housing and utilities, Sheikh Mohammed elaborated on X. By doing so, the UAE seeks to create a more stable and nurturing environment for its citizens. Promoting Emirati Identity; driving artificial intelligence advancements Promoting Emirati identity is another critical component of the 2025 plan. The government is committed to preserving and celebrating the rich cultural heritage of the UAE. This involves various cultural and educational programs designed to instill a sense of national pride and identity among the Emirati people. By fostering a strong sense of identity, the UAE aims to build a more unified and resilient society. Further, artificial intelligence is another key area of focus for the nation’s action plan. The government is keen to leverage artificial intelligence to drive economic growth, improve public services, and enhance the overall quality of life for its citizens. This includes investing in artificial intelligence (AI) research and development, as well as implementing AI solutions across various sectors such as healthcare, education, and finance. The UAE's vision is to become a global leader in AI innovation and application. Basic facts about United Arab Emirates The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a federal, elective monarchy composed of seven emirates, with Abu Dhabi as its capital. It shares land borders with Oman to the east and northwest, and with Saudi Arabia to the southwest; as well as maritime borders in the Persian Gulf with Qatar and Iran, and with Oman in the Gulf of Oman. As of 2024, the UAE has an estimated population of about 10 million, of which 11 per cent are Emiratis. Dubai, is the nations most populous city, and is an international hub. Islam is the official religion and Arabic is the official language, while English is the most spoken language and the language of business. UAE has witnessed remarkable growth post Covid-19 The UAE's economic growth has been remarkable, especially in the post-coronavirus era. Sheikh Mohammed highlighted the country's impressive economic statistics, including a government revenue of Dh546 billion in 2023, with Dh402 billion in expenditure. The most significant government expenditures were in public security and safety, health, education, economic affairs, social protection, housing, and utilities and the nation looks to continue on this path of economic growth. The number of companies operating in the Emirates has surged to over a million by mid-2024, up from 405,000 in the first half of 2020. This represents a staggering 152 per cent increase, reflecting the UAE's robust economic recovery and growth. The country is now ranked fifth in the world in terms of gross domestic product growth and has attracted a record Dh112 billion (Dirham) in direct foreign investment. Combating financial crimes and building international collaborations In addition to its economic and social initiatives, the UAE is also taking significant steps to combat financial crimes. The cabinet has adopted the national strategy for combating money laundering, terrorism financing, and arms proliferation. This policy aims to monitor the practices of financial institutions and virtual asset providers, ensuring a safer and more transparent financial environment. The nation is also expanding its international collaborations. Ministers have approved the restructuring of the Supreme committee for free trade negotiations, headed by the Minister of Economy. Furthermore, the UAE has joined the Nationally Determined Contributions Partnership, an international alliance focused on promoting sustainable development goals and supporting measures to adapt to climate change.

UAE Unveils 2025 Vision: Enhancing Families, Identity, and AI development

Prime Minister Narendra Modi on Thursday said that India is the world's most open and investment-friendly economy due to political stability, predictable policy and business-friendly reforms.

In his speech, PM Modi termed India as a land of limitless opportunities and urged the business leaders of the BRICS nations to invest in India, particularly in its infrastructure development.

Prime Minister Narendra Modi also said that BRICS nations contribute to half of global economic development.&nbsp;

"BRICS nations contribute 50% to the economic development of the world. Despite global recession BRICS nations have contributed to economic development and brought crores of people out of poverty," said PM Modi at BRICS business forum.

Addressing the Dialogue with BRICS Business Council and New Development Bank, Prime Minister Modi urged the BRICS Business Council to create a roadmap to achieve the $ 500 billion intra-BRICS trade target by the next summit.

He also urged the BRICS business leaders to identify the priority areas in business for the next ten years and make a blueprint of it.

Prime Minister Narendra Modi on Thursday said that India is the world's most open and investment-friendly economy due to political stability, predictable policy and business-friendly reforms.

Prime Minister Narendra Modi on Thursday said that India is the world's most open and investment-friendly economy due to political stability, predictable policy and business-friendly reforms. In his speech, PM Modi termed India as a land of limitless opportunities and urged the business leaders of the BRICS nations to invest in India, particularly in its infrastructure development. Prime Minister Narendra Modi also said that BRICS nations contribute to half of global economic development. "BRICS nations contribute 50% to the economic development of the world. Despite global recession BRICS nations have contributed to economic development and brought crores of people out of poverty," said PM Modi at BRICS business forum. Addressing the Dialogue with BRICS Business Council and New Development Bank, Prime Minister Modi urged the BRICS Business Council to create a roadmap to achieve the $ 500 billion intra-BRICS trade target by the next summit. He also urged the BRICS business leaders to identify the priority areas in business for the next ten years and make a blueprint of it.

India is world's most open and investment-friendly economy: PM Modi at BRICS

Prime Minister Narendra Modi on Thursday said that BRICS nations contribute to half of global economic development.&nbsp;

"BRICS nations contribute 50% to the economic development of the world. Despite global recession BRICS nations have contributed to economic development and brought crores of people out of poverty," said PM Modi at BRICS business forum.

Addressing the Dialogue with BRICS Business Council and New Development Bank, Prime Minister Modi urged the BRICS Business Council to create a roadmap to achieve the USD 500 billion intra-BRICS trade target by the next summit.

Calling India a land of limitless opportunities, the prime minister urged the business leaders of the BRICS nations to invest in India, particularly in its infrastructure development.

"India is the world's most open and investment-friendly economy due to political stability, predictable policy and business-friendly reforms," Modi said.

“Tax and Customs procedures between us five countries are getting easier. The business environment is getting easier with the collaboration between Intellectual Property Rights, and Banks. I request the BRICS Business Forum to study the necessary business initiatives to take full advantage of the opportunities thus generated,” Modi said while speaking at the BRICS Business Forum here.

“Intra-BRICS business and investment targets should be ambitious. Your suggestions will be helpful to further reduce the cost of trade between us,” he told the forum.

He also urged the BRICS business leaders to identify the priority areas in business for the next ten years and make a blueprint of it.

According to the BRICS joint statement, the five countries look forward to the opening of the two remaining NDB Regional Offices in Russia and India in 2020.

(With inputs from agencies)

Prime Minister Narendra Modi on Thursday said that BRICS nations contribute to half of global economic development. "BRICS nations contribute 50% to the economic development of the world.

Prime Minister Narendra Modi on Thursday said that BRICS nations contribute to half of global economic development. "BRICS nations contribute 50% to the economic development of the world. Despite global recession BRICS nations have contributed to economic development and brought crores of people out of poverty," said PM Modi at BRICS business forum. Addressing the Dialogue with BRICS Business Council and New Development Bank, Prime Minister Modi urged the BRICS Business Council to create a roadmap to achieve the USD 500 billion intra-BRICS trade target by the next summit. Calling India a land of limitless opportunities, the prime minister urged the business leaders of the BRICS nations to invest in India, particularly in its infrastructure development. "India is the world's most open and investment-friendly economy due to political stability, predictable policy and business-friendly reforms," Modi said. “Tax and Customs procedures between us five countries are getting easier. The business environment is getting easier with the collaboration between Intellectual Property Rights, and Banks. I request the BRICS Business Forum to study the necessary business initiatives to take full advantage of the opportunities thus generated,” Modi said while speaking at the BRICS Business Forum here. “Intra-BRICS business and investment targets should be ambitious. Your suggestions will be helpful to further reduce the cost of trade between us,” he told the forum. He also urged the BRICS business leaders to identify the priority areas in business for the next ten years and make a blueprint of it. According to the BRICS joint statement, the five countries look forward to the opening of the two remaining NDB Regional Offices in Russia and India in 2020. (With inputs from agencies)

BRICS nations contribute to half of global economic development: PM Modi

Governor of the US State of Kentucky Matt Bevin will lead a high-power American business delegation, comprising representatives from top companies, for the next Vibrant Gujarat Global Summit in January.

The delegation of US Chambers of Commerce, which includes the US-India Business Council (USIBC) and co-leaders of the Kentucky Cabinet for Economic Development, will strengthen ties with national and state government leaders, industry groups and individual businesses in one of the world's largest and fastest growing economies, the governor's office said.

"Kentucky is excited to explore opportunities within the Indian market and to meet with key government and business leaders during next month's business summit," Bevin said in a statement on Monday.

"Our state is a leading exporter of food products as well as healthcare and engineering technologies. This trip is an incredible opportunity to showcase Kentucky's growth as an epicentre for global companies," Bevin said.

The delegation will help increase awareness about trade and investment opportunities between the US and India, he said.

After Gujarat, the delegation will also travel to Uttar Pradesh to participate in industry meetings surrounding Pravasi Bharatiya Divas.

Nisha Biswal, president of the USIBC, said the organisation will deliver a productive and impactful engagement for Kentucky and the USIBC members at Vibrant Gujarat and in Uttar Pradesh.

"It is an honour for USIBC and its members to welcome a close partnership with Governor Bevin and the State of Kentucky to lead a delegation of US companies critical to the growth of the US-India bilateral trade and commercial relationship," she said.

"Kentucky and India have enjoyed a longstanding partnership, which has resulted in job creation and expanded business opportunities for both Indian and Kentucky companies," Biswal said.

Kentucky Cabinet for Economic Development leaders Terry Gill and Vivek Sarin will join Bevin, as will Cabinet's executive director for international affairs Erran Persley and business development, a media report said.

Indian companies own&nbsp;in whole or part&nbsp;five facilities in Kentucky, which currently employ approximately 1,625 people.

In addition to those five facilities, Novelis earlier this year broke ground in Guthrie for a 125-job aluminium rolling mill, which is scheduled to open by 2020.

And this summer Novelis announced it will purchase Aleris Corp, which operates an aluminium rolling mill in Lewisport employing nearly 1,000 people.

The deal is scheduled to close in 2019. Together, those will push Kentucky's Indian-owned facilities to seven, employing about 2,750 people, the Governor's office said.

Vibrant Gujarat Global Summit is aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers. It is advertised as a platform to understand and explore business opportunities in the State of Gujarat.&nbsp;

Governor of the US State of Kentucky Matt Bevin will lead a high-power American business delegation, comprising representatives from top companies, for the next Vibrant Gujarat Global Summit in January.

Governor of the US State of Kentucky Matt Bevin will lead a high-power American business delegation, comprising representatives from top companies, for the next Vibrant Gujarat Global Summit in January. The delegation of US Chambers of Commerce, which includes the US-India Business Council (USIBC) and co-leaders of the Kentucky Cabinet for Economic Development, will strengthen ties with national and state government leaders, industry groups and individual businesses in one of the world's largest and fastest growing economies, the governor's office said. "Kentucky is excited to explore opportunities within the Indian market and to meet with key government and business leaders during next month's business summit," Bevin said in a statement on Monday. "Our state is a leading exporter of food products as well as healthcare and engineering technologies. This trip is an incredible opportunity to showcase Kentucky's growth as an epicentre for global companies," Bevin said. The delegation will help increase awareness about trade and investment opportunities between the US and India, he said. After Gujarat, the delegation will also travel to Uttar Pradesh to participate in industry meetings surrounding Pravasi Bharatiya Divas. Nisha Biswal, president of the USIBC, said the organisation will deliver a productive and impactful engagement for Kentucky and the USIBC members at Vibrant Gujarat and in Uttar Pradesh. "It is an honour for USIBC and its members to welcome a close partnership with Governor Bevin and the State of Kentucky to lead a delegation of US companies critical to the growth of the US-India bilateral trade and commercial relationship," she said. "Kentucky and India have enjoyed a longstanding partnership, which has resulted in job creation and expanded business opportunities for both Indian and Kentucky companies," Biswal said. Kentucky Cabinet for Economic Development leaders Terry Gill and Vivek Sarin will join Bevin, as will Cabinet's executive director for international affairs Erran Persley and business development, a media report said. Indian companies own in whole or part five facilities in Kentucky, which currently employ approximately 1,625 people. In addition to those five facilities, Novelis earlier this year broke ground in Guthrie for a 125-job aluminium rolling mill, which is scheduled to open by 2020. And this summer Novelis announced it will purchase Aleris Corp, which operates an aluminium rolling mill in Lewisport employing nearly 1,000 people. The deal is scheduled to close in 2019. Together, those will push Kentucky's Indian-owned facilities to seven, employing about 2,750 people, the Governor's office said. Vibrant Gujarat Global Summit is aimed at bringing together business leaders, investors, corporations, thought leaders, policy and opinion makers. It is advertised as a platform to understand and explore business opportunities in the State of Gujarat.

Kentucky government to lead US business delegation for Vibrant Gujarat Global Summit

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