New Delhi: The UAE Ministry of Finance and the Confederation of Indian Industry on Wednesday organized the Indian edition of Investopia Global Talk – a series of sessions in Chennai aimed at enhancing cooperation in emerging economy sectors.
Launched in 2021, Investopia is a global investment initiative by the UAE government to connect investors, business leaders and government officials and identify economic and investment opportunities. Its first global dialogue was held in India in 2022 and the latest session is the third to be held there.
UAE Minister of Finance Abdullah Bin Tauq Al-Mari led a 70-member delegation at the event. He told the 300 attendees that the UAE “is at the gate to collaborate with our international partners.”
“It is imperative that we take advantage of our strengths, that we capitalize on emerging trends, embrace innovation as a catalyst for sustainable development, that we remain nimble, adaptive and forward-thinking.”
Alia Abdullah Al-Mazraoui, UAE Minister of State for Entrepreneurship, who was part of the delegation, urged UAE and Indian stakeholders to take advantage of the opportunity to explore partnerships in both markets.
“To those Indian businesses operating in new economy sectors, I invite you to capitalize on the highly incubating environment of the UAE … to grow and scale globally and champion technology and knowledge transfer within the ecosystem,” she said.
India-UAE relations have grown significantly since 2022, when they signed a Comprehensive Economic Partnership Agreement to promote trade and investment.
Since then, the number of exchanges between the two countries has increased and trade has grown by more than 16 percent annually in the energy, infrastructure and construction, technology and innovation, pharma and healthcare, tourism and cultural sectors.
India's ambassador to the UAE, Sanjay Sudhir, said relations between the two countries have seen “rapid progress” over the past decade and a “paradigm change in bilateral relations”.
“Investopia has already become an important event in the Indian business calendar,” he told Arab News.
“As we continue to work together, I am confident that our strategic partnership will enable our two nations to navigate complex global realities and leave a lasting impact on regional and global stability, economic growth and governance.”
Chennai is located in Tamil Nadu, which is India's second largest exporter of software after Karnataka, and is known for its automobile and engineering industries. Manufacturing contributes 33 percent and agriculture 13 percent to the state's economy.
Home to around 1.9 million small and medium-sized enterprises, CII said Tamil Nadu could be a starting point for new collaborations.
“Since the world has recognized that MSMEs (Micro, Small and Medium Enterprises) are the backbone of the global economy and startups are the future, we naturally need to collaborate in these domains,” said Dr. R. Nandini, President, CII Southern Region. , said.
“It is clear that the strengthened relationship between India and the UAE is ushering in a new era of trade and investment opportunities, innovation and sustainable economic growth for both countries.”
