UAE-India cross border investments set to surge

Dubai - Relations between the UAE and India have now grown beyond trade.

The recent reciprocal visits by leaders of the UAE and India had reinforced the commitment between the two nations to facilitate a substantial increase in cross border investments, the consul general of India in Dubai said.
Addressing the "Indo-UAE Financial Summit," Consul General Anurag Bhushan said diplomatic and bilateral relations between the UAE and India have progressed remarkably during the past two years.
 He said the UAE visit by Indian Prime Minister Narendra Modi followed by visit to India by His Highness Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, helped further strengthen bilateral ties. 
"I am a fervent believer of India-UAE growth story. With fundamental changes happening to Indian policies, the gates will further be wide open for expanding partnership between the two nations. The reciprocal visits of senior delegations of the two nations have set the ball rolling," Bhushan said.
The India-UAE Financial Summit was organised by Barjeel Geojit, one of the leading financial intermediaries in the UAE, as part of its 15th anniversary celebrations.
Addressing the event, Shaikh Sultan bin Sooud Al Qassemi, Chairman of Barjeel Geojit Securities, said relations between the UAE and India have now grown beyond trade.
"The strategic partnership between the countries is now moving into new territory such as digital technology and space collaboration. The trust and camaraderie between the two countries have been growing over the years. The UAE and India can complement each other in all segments of economic activity," Shaikh Sultan said.
Noting that India is a leading trade partner of the UAE, Shaikh Sultan said "existing ties can be strengthened, opportunities can be explored and further amplified to enhance the warmth and partnership between the two countries."  
In his key-note speech,  T N Manoharan, Chairman, Canara Bank, said the Indian banking sector has played key role in Indian economic growth. "The adoption of cutting-edge technology by Indian banks has enabled them to scale up their reach and services to all segments of society. The Indian banking system will soon be resilient and propel the India growth story in the years to come."
Krishnan Ramachandran, CEO of Barjeel Geojit Securities, explained how India and the UAE can become economic powers in their own right by complementing each other's strength.  He also stressed the need to channelise the investment flows between the two countries.
K.V. Shamsudheen, director, Barjeel Geojit Securities, said more financial seminars on UAE-India partnership would be held in the coming months.
Speakers at a panel discussion included Surya Subramanian, CFO-Emirates NBD; Thomas Pereira, CFO-Commercial Bank of Dubai; Saleem Khokhar, head of Fund Management-NBAD; Harsh Gupta, senior Vice President, HDFC Bank (DIFC);  Jacob Ninan, GCC & Africa CEO-Axis Bank (DIFC); and Rashed Ali Al Ansari, general manager, Al Ansari Exchange.
Barjeel Geojit Securities, a joint venture between Shaikh Sultan and Geojit BNP Paribas Financial Services Ltd, has branches in Dubai, Abu Dhabi, Sharjah and Al Ain.
- issacjohn@khaleejtimes.com