UAE can drive India's growth story

Sheikh Nahyan bin Mubarak Al Nahyan at the annual India-UAE Strategic Conclave.

The UAE and India are set for landmark cooperation and development in all sectors of economy, government officials, diplomats and business leaders opined during an event held in Abu Dhabi.
Minister of Tolerance Sheikh Nahyan bin Mubarak Al Nahyan noted that both the UAE and India were tolerant nations and doing well economically.
"Tolerant societies are more open and innovative, and will be more economically prosperous. Both India and the UAE are obvious cases in point. Tolerance in both countries makes us natural partners and friends," he said during the annual India-UAE Strategic Conclave.
National Association of Freight and Logistics president Nadia Abdul Aziz said to have seen drastic changes in India in terms of development and governance.
"If the Indian government can sustain this then lot of businesses will come to India," she said and noted the need for more road shows and awareness about investment climate.
Nadia said there can be higher level of bilateral cooperation in shipping and logistics, which will enable growth in both the countries. "Our ports offer great connectivity and airports are among the busiest and most connected. Indian goods can come here and get re-exported at minimum cost," Nadia added. 
Meanwhile, ambassador of India to the UAE Navdeep Singh Suri addressing the audience on 'Strengthening age old India-UAE ties through a fresh approach', noted that bilateral relationship has hit new heights in last two years with growing cooperation in energy, defence and other sectors. 
"We were once seen as a difficult place to do business but that has changed," he said and highlighted ties with the like of Adnoc and Abu Dhabi Investment Authority.
Suri noted a special fast track mechanism for UAE investors was launched by Indian government to boost further investments. He said there's concerted effort taken by both governments to ease all obstacles.
The ambassador noted that the only missing link is the private business community. "The UAE investor community is bit shy of taking leap into India." 
He noted that India's growth story is irresistible. 
"The UAE could be major beneficiary and driver of India's growth. There is no better time than now to invest in India."
Meanwhile, LuLu Group chairman and managing director Yusuff ali M.A. said both the countries have visionary leadership that has led to strong economy, robust infrastructure and ease of doing business. Yusuff Ali noted that Indian Prime Minister Narendra Modi has enhanced business climate by treating NRIs investment as domestic investment. 
NMC Healthcare founder and chairman Dr B.R. Shetty said he earned money in and outside the UAE and is now investing back in Indian urban, rural and tribal areas.
The conclave also discussed challenges and investment opportunities in both the countries, and way forward for greater cooperation. - ashwani@khaleejtimes.com