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Rajesh Kumar Singh, secretary of the Ministry of Industry and Internal Trade Promotion, who is in the UAE, held talks with senior leaders of Abu Dhabi Investment Authority and Abu Dhabi sovereign investor Mubadala.
“Welcoming the surge in UAE investment in India, Rajesh Kumar Singh invited both companies to explore new areas of investment in India, especially in renewable energy and digital,” the Ministry of Commerce and Industry said.
Currently, the UAE is the seventh largest investor in India with an estimated investment of $18 billion, it added.
Singh and Thani bin Ahmed Al Zeoudi, UAE Minister of State for Foreign Trade, co-chaired the event to mark the one-year anniversary of the entry into force of the Comprehensive Economic Partnership Agreement between India and the UAE.
After the implementation of the FTA, bilateral trade increased by 20%.
India’s exports to the UAE are expected to grow by 12% in 2022-2023, reaching USD 31.3 billion.
Singh also inaugurated the Kerala Pavilion at the annual investment conference in Abu Dhabi.
He will also inaugurate the Dubai International Jewelry Fair Center on Tuesday.
The Secretary will also be the featured guest at an event organized by the Gems and Jewelery Export Promotion Council, which is expected to involve around 100 companies from India and the UAE, including representatives from the various Export Promotion Councils.
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