February 23, 2021, New Delhi:
The Policy Times in a almost year-long initiative to tap the true potential of India in collaboration with the rest of the global community organized “Unleashing India Web-Series” and in the 77th session of the series “Unleashing India: Indo Middle East Biz Growth” from 2-3 pm IST on Tuesday. The session was chaired by Dr. P. Sekhar, Chairman of Unleashing India and Global Smart Cities Panel MTGF discussed trade and investment opportunities between India and United Arab Emirates with reference to Middle East.
UAE and India has been maintaining a prosperous and positive trade and political relationship from last few decades. There is already a large flow of bilateral investments and an annual bilateral trade of about US$ 60 billion between India and UAE that brings UAE as India’s third-largest trade partner. The expat remittance corridor from gulf region is also positive news for bilateral trade relation as India remains top earner of remittance from Gulf region despite the coronavirus turmoil. The bilateral trade flow between India and UAE has the potential to reach US$ 100 billion annually. In the light of current booming trade relation between the two countries that hints at larger potential India and UAE has to explore a lot of undiscovered and emerging areas of the two nations.
On this one hour long web summit series, the global trade relation expert form UAE Mr. Zulfiquar Ghadiyali brought out UAE’s current favorable trade atmosphere and amiable diplomat reach to majority of countries in the world which enables start-ups and MSMEs from India to set up their operation base to explore global trade market. UAE is the most prosperous gateway and catalyst to trade with rest of the global community for its overall ambience and acceptance of rest of the global communities and favorable atmosphere for trade and growth. UAE has not only ranked 16th in global index for ease of doing business but the USD and AED (United Arab Emirates Dirham) exchange rate along with relaxed 5% tax regime for business registered under UAE VAT is also a favorable highlight for trade bodies operation.
Dr. Bader Al Hendi, In charge of Royal Relationship and Protocol Management of Royal family UAE referred to the near constant favorable bilateral trade relationship and UAE’s growth touching that of developed countries with ease and what that prospect that could offer to India in emerging field like Artificial intelligence studies, aerospace etc.
Col.N.P.Singh who is the Global Strategic Advisor to the prime enterprise DIHC set up by the Royal family informed full support with his vast knowledge of the Global and Indian market and the support required to make these a success.
Akram Haque the Founder, Editor of The Policy Times assured fully support to bring these to all stakeholders and make this a long lasting success.