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Emirati capital looking for more investment to diversify business activity in Abu Dhabi beyond hydrocarbons India Not only does this benefit the local economy, but it also allows Indian companies to use it as a platform to expand their footprints around the world.
Abu Dhabi Priority sectors were identified in which Indian businesses could invest, including agritech, tourism, healthcare, pharmaceuticals and financial services.
Abdullah Abdul Aziz Alshamsi, Acting Director General of the Commission Abu Dhabi invest The Office in Charge of Arousing Investment (ADIO) told PTI that his office will facilitate all invest approach of Indian companies and called it a natural extension of the growing relationship between the two countries India and UAE.
Alshamsi recommends Indian companies to use Abu Dhabi Serving as a platform to expand their footprint around the world, adding that their presence will also benefit the local economy.
At a time when Indian start-ups are looking for better opportunities abroad, Abu Dhabi is keen to attract such innovative companies, especially those working in targeted priority sectors, to set up a base in the emirate.
Agritech (agritech) is an exciting industry given Abu Dhabi’s dry and arid climatic conditions, which are spread across the Middle East, Alshamsi said, adding that their work could help address global food security challenges.
He cited the recently signed free trade agreement India Regarding economic cooperation, it said it would not only help trade in goods and services, but also knowledge sharing.
India and the UAE have shared trade links for centuries. India-UAE trade is worth $72.8 billion in 2021-22, making the UAE India’s third-largest trading partner after China and the US, according to the foreign ministry.
The UAE is India’s second largest export destination (after the US), with exports worth close to $28 billion in 2021-22.
United Arab Emirates invest It is estimated that the investment in India is about 1.7-1.8 billion US dollars, of which 11.67 billion US dollars is FDI and the rest is portfolio investment.
The UAE is the ninth largest investor in India in terms of FDI.
Some funds from the Middle East, especially sovereign wealth funds, have made big bets on India, investments driven by the higher returns the country offers.
ADIO helps investors and companies of all sizes to set up, grow and grow their businesses in Abu Dhabi. It aims to help develop the emirate’s private sector and diversify its economy. Long-term, sustainable thinking was another major goal of the office.
Asked how Abu Dhabi can compete with the world market while pursuing its own interests, Alshamsi said Abu Dhabi has the most advanced regulations in accessing capital, especially in Abu Dhabi Global Market.
It is a free zone that allows foreign ownership and regulation, allows innovative thinking and attracts venture capitalists, equity funds as well as public opportunities in Abu Dhabi.
Indian company Fresh to Home was one of the first to set up a base in Abu Dhabi, Alshamsi said. Their presence focuses on R&D and also facilitates access to the US market.
It is mutually beneficial for us and we have learned to provide this service so that we can attract more companies to Abu Dhabi,” he said. He added that the Indian venture capital fund “Stride Ventures” in Abu Dhabi Also very active.
Regarding the availability of talent pool in Abu Dhabi, Alshamsi said: “Not only do we have a talent International Talent sets foot in Abu Dhabi and retires in Abu Dhabi.
(Only the title and image of this report may have been modified by Business Standard staff; the rest was automatically generated from a syndicated feed.)
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