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Seize Expo 2020 opportunities to bolster bilateral ties: Kapoor

Issac John /Dubai
issacjohn@khaleejtimes.com Filed on October 3, 2021
Pawan Kapoor, Piyush Goyal and Anurag Chaturvedi.

India attracted a record FDI flow of $67.54 billion during the first nine months (April- Dec 2020) of the financial year 2020-21.

India’s prominent participation at Expo2020 Dubai is a great opportunity to further strengthen bilateral ties with the UAE and boost trade between both countries, Indian Ambassador Pawan Kapoor said on Sunday.

Speaking at a seminar on “India making resurgent stride towards a $5 trillion economy” by 2025, organised by the Institute of Chartered Accountant of India (Dubai) Chapter, Kapoor noted that the Dubai chapter plays an important role in serving the professional and business communities in the UAE, noting that its contributions during an unprecedented time of Covid-19 were remarkable.

Sunder Nurani, chairman of the ICAI (Dubai) chapter, said the landmark Comprehensive Economic Development Agreement (CEPA) between the UAE and India, expected to be reached before the end of December 2021 and to be signed in March 2022, would take the bilateral relations to a bold new era of a win-win partnership.

Nurani said chartered accountants from India have a major role to play in supplementing the growing ties in two-way investments and trade.

“As key decision-makers in our respective organisations, chartered accountants can play a responsible role for the successful execution of such bilateral agreements and support the vision of India’s Prime Minister Narendra Modi for achieving the goals he has set for country’s growth.

“Since Indian chartered accountants in Dubai play a key role in the decisions and operations of their respective organisations, they must re-affirm their pledge to support the strategic relationship between the UAE and India,” Nurani said.

He pointed out that there are countless opportunities for investment and collaboration in sectors such as technology, pharma, and healthcare.

“India is one of the world’s fastest-growing large economies. The nation attracted a record FDI flow of $67.54 billion during the first nine months (April- Dec 2020) of the financial year 2020-21,” he said.

He said India with the world’s largest youth population would continue to reap the dividends of a vibrant workforce, the youngest in the world, until 2030.

“India has a very great story to tell about startups, having the world’s third-largest startup ecosystem. The Indian Pavilion at Expo 2020 will promote India’s startup stories to a great extent over the course of the next six months,” he said.

Nurani also urged fellow chartered accountants to avail the exciting opportunity by participating and contributing to the success of Dubai Expo 2020 as it offers a “once in a lifetime opportunity” to boost India’s Indian economic ties with the UAE and other nations.

Anurag Chaturvedi, vice chairman of the chapter, urged ICAI members to explore various PLI (production lined incentive) schemes of India and he requested the minister to provide incentives to those sectors where the UAE has allowed 100 per cent ownership to foreigners. “This will help increase India’s exports to the UAE, which is the top re-export hub in the Middle East North Africa region. — issacjohn@khaleejtimes.com

author

Issac John

Editorial Director of Khaleej Times, is a well-connected Indian journalist and an economic and financial commentator. He has been in the UAE's mainstream journalism for 35 years, including 23 years with Khaleej Times. A post-graduate in English and graduate in economics, he has won over two dozen awards. Acclaimed for his authentic and insightful analysis of global and regional businesses and economic trends, he is respected for his astute understanding of the local business scene.





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