Dubai, Sep 19 (AP) Union Minister of Commerce and Industry, Piyush Goyal, on Friday said the United Arab Emirates (UAE) is investing deeply in high-tech areas, and India could be looking at collaboration in the sector.
Goyal was addressing the media after rounding up a series of high-level meetings with top officials, industry leaders, and the Indian community in the UAE during his two-day visit.
“The UAE has also become a hub which attracts investments from around the world,” Goyal said, adding that the country attracts businesses from around the world to look at the UAE as a hub of activity for Africa, Middle East, and Central Europe.
“India would like to leverage on that hub that the UAE has been successful in creating,” he said.
Goyal, whose
delegation included 75 industry captains, said that India is looking to grow investments rapidly.
On resetting investment targets, Goyal said while the UAE is already among the top five or six countries that invests in India, he sensed a much larger investment flow. “Investors in the UAE are smart enough to recognise that India is an opportunity not to be missed.” “We will be looking at much larger pools of capital, both FDI, and FII,” Goyal added.
He also said that the proposed Bharat Mart project will give small businesses the opportunity to become large exporters. “Already more than 9,000 companies have shown an interest to come to Bharat Mart,” he said.
Goyal said that data centres and technology are the UAE investors’ focus areas. “There was a lot of interest in the banking sector and in our start-ups. There was interest of potential investors in logistics ecosystem in India. PTI SKY SKY
