2022 will be a landmark year for UAE-India investments, says Dr Aman Puri

The Consul-General of India in Dubai says he's keen to see two-way investments growing



Photo by Shihab
Photo by Shihab
by

Waheed Abbas

/

Sandhya D'Mello

Published: Sat 21 May 2022, 1:38 PM

Last updated: Sat 21 May 2022, 10:37 PM

Indian real estate companies have been asked to tap the UAE’s investable surplus as investments between the two countries are growing exponentially with 2022 emerging as a landmark year in terms of investments from UAE to India, said Dr Aman Puri, the Consul-General of India in Dubai.

While speaking at the inauguration of the India Real Estate Show 2022 at Dusit Thani Hotel, Dubai, on Saturday, Dr Puri said Indians have been very prolific investors in the UAE and he’s keen to see tow-way investments growing.

“India and UAE are currently at the inflection point of their relationship in terms of trade and investments and we will see 2022 will be a landmark year in terms of investments from UAE to India. Indians have been one of the most prolific investors in the UAE real estate market over the last two decades and 2021 was no exception. In fact, there was an unprecedented amount of investment coming into UAE from India in the real estate sector. and we do want to see this two-way flow of investments,” the consul-general of India said in his inauguration speech.

“We are happy to see that Indian developers are showcasing projects to their NRI clients and other expats living here in the UAE. “

The third edition of the two-day India Real Estate Show 2022 brings together some of India’s major real estate developers, offering various lucrative propositions to investors and NRIs across Tier 1, 2 and 3 cities of India.

Presented by Khaleej Times, developers are showcasing over a hundred projects from major Indian cities like Mumbai, Delhi, Gurgaon, Bengaluru, Hyderabad, Ahmedabad, and Pune, Chennai and others.

Tap UAE’s investable surplus

“For large infrastructure, construction and real estate companies in India, we must look at investable surplus throughout the UAE. The UAE has a huge investable surplus which can be deployed in the Indian real estate sector and you must take advantage of that,” Dr Puri told the exhibitors at India Real Estate Show on Saturday.

He further revealed that a huge amount of construction is happening in India and traditional real estate companies must capitalise on the innovation and the best ideas that are being brought by the startups and technology companies in order to remain competitive and also offer the best products to NRIs.

Dr Puri stressed that the Indian real estate sector has a huge potential and it is estimated to reach the $1 trillion mark by 2030, accounting for around 18 to 20 per cent of the country’s GDP.

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“It’s a very important sector in terms of contribution to GDP and, of course, it has allied benefits as well. Since infrastructure has direct benefits on other industries like tourism, business etc. we also see good growth in Tier 2 and 3 cities,” the consul-general of India said.

$100 billion trade

Dr Aman Puri said following the signing of the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE, the trade will reach the $100 billion mark by 2025.

“There is also a move to fast-track $75 billion investment commitment from the UAE to India and 2022 holds many promises towards that direction… We will see Indian exports to the UAE increasing, too. In addition, we will see significant investments in infrastructure and construction in 2022,” he added.

Dr Aman Puri pointed out that the UAE investors should consider a long-term investment in India as the South Asian country strives towards the goal of a $5 trillion economy.

“India is offering huge opportunities in new sectors like e-commerce, logistics, warehousing as well as in Tier 2 and Tier 3 cities and investors should benefit from these lucrative investment avenues,” concluded Dr Puri.


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