Dubai: External Affairs Minister Pranab Mukherjee has called upon investors in the United Arab Emirates (UAE) to invest in India's infrastructure sector.

"India invites companies of the UAE to play a major role in the development of its infrastructure," Mukherjee said in a speech on 'India's vibrant economy and India-UAE business relations' while addressing the Indian Business and Professional Council (IBPC), Dubai, here Tuesday evening.

"As far as UAE is concerned, there are many opportunities for investment in the entire value chain for petroleum, including refining, product pipelines, storage and retail as well as for natural gas," said the minister, who is on a two-day official visit to the UAE.

He said the reforms initiated in the 1990s have transformed the investment climate, improved business confidence and generated a wave of entrepreneurial optimism in India.

According to Mukherjee, Indian economy has moved decisively to a higher growth phase. He, however, pointed out that the biggest impediment to India achieving and sustaining annual economic growth of around 10 percent was its inadequate infrastructure.

"Hence, this is precisely the sector which has been taken up for priority attention by the Indian government... A massive programme of public investment has been initiated and the involvement of private participants, from India and abroad, is welcome in this endeavour."