UAE Looks To Invest In India's High-Tech Sectors



UAE Looks To Invest In India's High-Tech Sectors
  • Union Minister Piyush Goyal highlighted growing cooperation with the UAE, especially in high-tech fields, as India eyes greater FDI and FII from the region.
  • Goyal announced the upcoming Bharat Mart project to support small Indian businesses in becoming exporters, with over 9,000 companies already showing interest.
  • UAE investors showed keen interest in Indian sectors like technology, data centers, banking, start-ups, and logistics, recognizing India as a major growth opportunity.

Union Minister of Commerce and Industry, Piyush Goyal stated the United Arab Emirates (UAE) is heavily investing in high-tech fields, and India may be eyeing cooperation in the field. Mr. Goyal spoke to the media after wrapping up a series of high-level discussions with senior officials, business leaders, and the Indian community in the UAE during his two-day tour.

"UAE has also emerged as a hub which draws investments from all over the world", said Mr. Goyal, who added that the nation draws businesses from all over the globe to see the UAE as a hub of activity for Africa, Middle East, and Central Europe.

"India would want to capitalize on that hub that UAE has successfully established", he added. Mr. Goyal, whose delegation comprised 75 industry leaders, stated that India is set to increase investments at a fast pace.

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Speaking about recalibrating investment targets, Mr. Goyal stated though the UAE is already in the top five or six nations investing in India, he felt there was a much greater investment stream. "Investors in the UAE are smart enough to see that India is an opportunity not to be missed".

"We will be looking at much larger pools of capital, both FDI, and FII", Mr. Goyal said. He also added that the plan to set up Bharat Mart project will provide small businesses with the chance to become big exporters. "Already over 9,000 companies have expressed interest to come to Bharat Mart", he said.

Mr. Goyal informed that technology and data centres are the UAE investors' priority fields. "There was a lot of interest in the banking space and in our start-ups. There was interest of potential investors in logistics ecosystem in India".