Jamal Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC), affirmed that the UAE’s foreign investments in India are focused across nine significant current and future sectors.
He explained that these sectors include programming and information technology, health, medicine, services, maritime transport, communications, infrastructure and real estate development, Al Jarwan said in a statement to Emirates News Agency (WAM), during the UAE’s delegation visit to India to activate the Comprehensive Economic Partnership Agreement (CEPA).
Al Jarwan highlighted the two countries’ aspiration to foster the volume of foreign investments and trade cooperation by committing to increasing flows and capital to future sectors such as artificial intelligence, agricultural technology, green environment and clean energy.
He added that India is a strategic trading partner for the UAE, representing 9% of the total foreign trade and approximately 13% of non-oil exports.
Al Jarwan pointed out that CEPA will support the increase and quality of the volume of non-oil trade exchange to about $100 billion over the next five years.
He stated that the Comprehensive Economic Partnership Agreement is based on long-term decades of cooperation, as the UAE ranks today the ninth largest investor in India with a total investment of more than $18 billion. However, India invests nearly $8 billion, representing 6% of the volume of foreign investments in the UAE.