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Abu Dhabi, Investments in India are being sought to diversify the economy away from hydrocarbons.
the capital of the UAE, Abu Dhabi, is seeking investment in India to diversify its economy beyond hydrocarbons. These investments will not only boost the local economy but also provide Indian companies with a platform to expand globally.
Indian businesses can invest in priority sectors in the capital, including agritech, tourism, pharmaceuticals, healthcare and financial services.
Abdulla Abdul Aziz Alshamsi, Acting Director-General of Abu Dhabi Investment Office (ADIO), which is responsible for attracting investment, told Press Trust of India (PTI) that his office will provide all investment opportunities for Indian businesses, describing this as India’s relationship with Arabia. A natural extension of the deepening relationship between the United Arab Emirates (UAE)
Alshamsi suggested that Indian companies should use Abu Dhabi as a base to grow internationally, adding that their presence would also help the local economy
alshamsi suggested Indian business should be based in Abu Dhabi to grow internationally, adding that their presence will also help the local economy. At a time when Indian start-ups are looking for better opportunities overseas, Abu Dhabi is ready to encourage such creative businesses to set up bases in the emirate, especially those involved in the listed priority industries.
Given Abu Dhabi’s dry, arid climate that is common throughout the Middle East, Alshamsi said agtech is an exciting industry. Their efforts could help address food security issues around the world, he added.
He also highlighted the recently signed free movement agreement Economic cooperation with India, which it claims not only facilitates trade in products and services but also knowledge sharing.
Trade relations have existed between India and the UAE for centuries. According to the Ministry of Foreign Affairs, the country’s trade with the UAE will be worth $72.8 billion in 2021-2022, ranking third among trading partners after China and the United States.
With exports worth close to $28 billion in 2021-22, UAE is India’s second-largest export destination after US
With exports worth close to $28 billion in 2021-22, the UAE is India’s second-largest export destination after the US.Investment in the UAE India It is expected to be about 1.7-1.8 billion US dollars, of which foreign direct investment (FDI) accounts for about 11.67 billion US dollars, and the rest is portfolio investment. It is also the ninth largest foreign direct investment investor in India.
Many Middle Eastern companies, especially sovereign wealth funds, had previously invested heavily in India, their investments driven by the higher returns offered by the country.
The Abu Dhabi Investment Office (ADIO) supports businesses of all sizes to set up, expand and grow in Abu Dhabi. It seeks to expand the emirate’s private sector and diversify its economy. Another major goal of the office is to develop long-term, sustainable ideas.
Alshamsi said Abu Dhabi has the most cutting-edge rules in accessing funds, especially in Abu Dhabi Global Market, Answer the question of how the emirate can compete with the world market while pursuing its own interests.
According to Alshamsi, an Indian company called Fresh to Home was one of the first to set up a factory in Abu Dhabi.
It is a free zone that allows foreign ownership of businesses and is regulated in a way that supports innovative thinking, attracts venture capitalists and equity funds, and creates opportunities for ordinary people in Abu Dhabi.
According to Alshamsi, an Indian business called Fresh to Home was one of the first to set up a facility there. They are there primarily to conduct research and development, and to facilitate access to the US market.He added that it is beneficial for both parties, so they learn to offer to attract more merchants to Abu Dhabi And said Indian venture capital fund Stride Ventures also operates in Abu Dhabi.
Commenting on the talent pool in Abu Dhabi, Alshamsi said that not only do they have a talent pool, but they also make it easier for foreigners to establish themselves in Abu Dhabi and retire there.
Edited and proofread by nikita sharma
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