40 NRIs part of Mohammed bin Zayed's India delegation

Yusuffali MA (right) expects Shaikh Mohammed bin Zayed's visit to India to boost the historic socio-economic relations between the two countries, while BR Shetty (second from left) expects cooperation in infrastructure, real estate, science and technology.

Sixty entrepreneurs will be part of the high-level delegation accompanying His Highness Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, as he embarks on his first official visit to India today.
The delegation includes 40 UAE-based non-resident Indian (NRI) businessmen and 20 Emirati entrepreneurs.The business community in the UAE expects a significant boost in trade ties between the two countries at the end of the three-day visit.

The community expects a further push in bilateral trade and commerce, information technology sector, renewable and green energy and investment opportunities in both the countries - especially in India's smart city projects and greenfield airports.
India needs billions of dollars for infrastructure development. During last year's visit of Indian Prime Minister Narendra Modi to the UAE, both sides agreed to set up a $75-billion fund to invest in Indian infrastructure, railways, ports, highways, airports and to build industrial corridors.
"This visit will further strengthen the historic socio-economic relations of India and the UAE. Both the countries will play a significant role for the stability and peace in the region," Lulu Group chairman Yusuffali MA told Khaleej Times.
Chairman of UAE Exchange and chief executive officer of New Medical Centre, Dr BR Shetty, expects potential for investment and cooperation in infrastructure, real estate, science and technology.
India needs funding for modernisation of sea ports, airport, railways, and national highways among others, said UAE Exchange president Y. Sudhir Kumar Shetty."Focus on solar energy, renewable energy and clean energy are major areas where we can definitely see both the countries coming together," Sudhir Shetty said.
Talking about a trillion dollar requirement by the Indian government for the infrastructure development, Shetty mentioned that total investment will go much beyond that. "We have very outdated railways, it needs to be modernised.
Nawab Shaji Ul Mulk, chairman, Mulk Holdings, said this is a very significant visit as it combines both the government and private sector commitment at the highest level.
"Shaikh Mohammed bin Zayed is leading by example and reciprocating our Indian Prime Minister Narendra Modi's visit substantially signifies the very strong intent and seriousness of both governments to execute their plans," he said.
He said there is an expectation of cooperation and investment in infrastructure, renewable energy, defence, counter terrorism and various other sectors. This promises a new era of prosperity and security for both nations and further strengthening of already existing strong bonds between the two nations.
Danube chairman Rizwan Sajan also looks optimistic for this royal visit to Indian. "I am looking forward for mutual benefits for both the countries out of this visit to India in many sectors."
The official announcement for signing of at least 16 agreements in a wide range of sectors during this visit will be a win-win situation for the UAE and India, Sajan added.
Harmeek Singh, owner and founder of Plan b Group, said the UAE and India have always enjoyed strong bonds, and trade has played a strong role in this relationship.
"I expect this delegation to only further strengthen our ties, and contribute to improving the economy, trade activities and tourism sector."
Jayshree Gupta, Partner, Baker & McKenzie Habib Al Mulla, said: "India is certainly keen to attract and promote foreign investment to encourage economic growth, and to this end has recently introduced substantial changes to its foreign direct investment (FDI) policy. The government has eased FDI norms in 15 major sectors, and plans to constantly review their FDI policy to achieve their economic objectives."
India and the UAE have such deep and old bonds and trade ties. It's been fantastic to see the Indian Prime Minister recently visit the UAE after 34 years and now the visit of Shaikh Mohammed bin Zayed to India signals that there will be more investment into India by the UAE.
"Intended investments in infrastructure and ports gives the UAE opportunities for foreign direct investment and this visit shows the UAE's commitment to and faith in India as its trading partner in the times ahead," Gupta added.
India-UAE trade, valued at $180 million per annum in the 1970s, today stands at around $60 billion, making the UAE India's third-largest trading partner for 2014-15.
Trade and investment sectors form the cornerstone of the booming bilateral economic ties between the two countries.
abdulbasit@khaleejtimes.com

• India