India, UAE will scale new heights in investments

Dubai - "I expect this delegation will only further strengthen our ties and contribute to improving the economy, trade activities and the tourism sector," Harmeek Singh, owner and founder of Plan b Group, told Khaleej Times.

 The UAE and India have always enjoyed a strong bond and trade plays an important role in this bilateral relationship. The ongoing visit of the high-profile UAE delegation to India will further cement the bond of friendship and strengthen trade and investment between the two countries, said an Indian entrepreneur.
"I expect this delegation will only further strengthen our ties and contribute to improving the economy, trade activities and the tourism sector," Harmeek Singh, owner and founder of Plan b Group, told Khaleej Times.
He said the dynamic land of the UAE is an old ally of India for trade, culture and tourism. Similarly, India's contribution to the growth of the Gulf nation has been recognised by the UAE. Both countries have always had a strong bilateral relationship and it would definitely see a boost in the days to come, he said.
"The visit in August by Prime Minister Narnedra Modi to the Gulf country has set a new milestone to improve investment ties between the UAE and India. The Rulers had been reciprocal to the fact of working more closely between the two nations," he said.
He said the issues raised by Prime Minister Modi had an immediate traction with support for the Indian workforce.
"The UAE Rulers' backing for India's permanent seat in the UN Security Council was also a strong statement," he said. 
To a question, the UAE's committed investment of $75 billion to invest in India was on course, with key sectors being partnered. "I foresee the first investments to be made in 2016, and grow from there. Infrastructure should be tackled first to expand our trade. Furthermore, I feel that investments should be raised on priority in other key areas as well such as technology, trading, manufacturing, telecommunication, real estate, entertainment and tourism," he said.
About the challenges that can affect the UAE-India trade and investment in coming years, he said the strong contingent of 2.6 million Indians working in the UAE as their acquired homeland is a statement to support common grounds.
"I think the regional disturbances can be a hurdle, but then again, I am positive on the trust both nations share, and see it growing stronger with coming times. Together, we will reach new heights in coming years," Singh concluded.
- muzaffarrizvi@khaleejtimes.com