Prime Minister Narendra Modi on Monday urged top UAE businesses, including Indians who have made it big in the oil-rich Gulf nation, to invest in India as the country provides a $1 trillion potential.
“Infrastructure development and real estate offer tremendous opportunities for UAE businesses in India,”
the PM said at Monday’s round table in the zero-carbon city of Masdar, where he took a ride in a self-driving car.
PM Modi was keen on addressing issues of the past where several UAE businessmen had complained of difficulties in doing business in India. He said, “I want to assure we are solving these problems,” and promised to interact more with the UAE. His visit is the first in 34 years since Indira Gandhi’s in 1981.
He said commerce and industry minister Nirmala Sitharaman would visit the UAE soon.
“If India and UAE work together, they can make the vision of the Asian century (the 21st century as Asia’s century) a reality. UAE would be at the economic focus of the Asian century,” he said at Masdar City.
“Science is life,” Modi wrote on the visitor’s book at Masdar City, intended to be an incubator for a new generation of green start-ups in a region.
“Masdar City is an amazing project, illustrating a pathbreaking approach to urban development & clean energy,” he praised in his tweet.
At Sunday’s private dinner hosted by Hamed bin Zayed Al Nahyan, managing director of the Abu Dhabi Investment Authority which is a sovereign wealth fund worth $800 billion, the Prime Minister spoke of his government’s efforts to make India a business-friendly country.
The UAE ranks 22 in the ease of doing business index, compared to India’s 142.
Modi pitched for his flagship ‘Make in India’ initiative that aims to turn the country into a global manufacturing hub.
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