Union Minister for Railways and Commerce Piyush Goyal has said that seventeen companies from United Arab Emirates have confirmed their investments in India's infrastructure sector in the last 12 months. He gave this information in an interaction with the Emirates News Agency during his recent visit to the UAE.
The Union Minister said that since the 6th Meeting of the UAE-India High-Level Joint Task Force on Investments that was held in Mumbai in October 2018, the Indian Government has been assisting over 200 UAE-based businesses to obtain licenses and approvals.
Mr Goyal said, this was made possible through the fast-track mechanism and procedures put in place by the government. The Minister emphasised that the UAE has committed investments worth 75 billion US Dollars in India's infrastructure sector.
Mr Goyal was on a two-day visit to the UAE to attend the 7th Meeting of the UAE-India High-Level Joint Task Force on Investments, which he co-chaired with Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince's Court, in Abu Dhabi.
Regarding UAE's request to allow its carriers to expand their operations in India, the Minister said, the interests and concerns of both sides have been taken up and it is our expectation that discussions would be held shortly.
Regarding the cooperation in the Railway sector, the Minister said that India was keen to bring its 166 years experience in Railways to the UAE. He expressed hope that both Indian Railways and Etihad Rail can partner together to offer the best services in the UAE.
About India's participation in Expo 2020 to be held Dubai, the Minister said the Indian Pavilion will also host events on special occasions, further strengthening people-to-people ties. Mr Goyal said, Indian Pavilion at Expo will be the second largest, carrying the tagline ‘Future is in India.'
Twenty-seven focus sectors have been identified to showcase India's advances in space, pharmaceuticals, information technology, renewable energy and telecom sectors, as well as India's strength in innovation and start-ups.
