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Abu Dhabi: India’s ambassador to the UAE, Sunjay Sudhir, said the UAE believes in India’s growth story and its sovereign wealth fund has invested more than $10 billion in India.
Speaking at CREDAI’s annual conference ‘NATCON 2022’, the apex body of real estate agents, Sudhir asked builders to learn from the experience of UAE real estate companies and explore partnerships with them.
He stressed that Indian companies are also investing heavily in the UAE in many sectors including energy.
Sudir, who joined India’s foreign ministry in 1993, said: “Our bilateral relationship gives you the opportunity to work with Emirati companies on a wide scale and learn from their experience.”
He added that India’s partnership with the UAE is accelerating rapidly.
“We have seen this reflected in the investments of leading UAE companies in India over the past few years.
“In the past five years alone, the UAE Sovereign Wealth Fund has invested more than $10 billion in renewable energy, telecommunications, road infrastructure, affordable housing and start-ups,” Sudhir said.
The ambassador said it was a two-way investment and said Indian companies were also investing in the UAE.
Sudhir said there was a lot of interest in affordable housing as the partnership with HDFC and Kotak Group strengthened.
He said the UAE believes in India’s growth story, which presents many opportunities for Indian businesses to grow.
Sudir said India-UAE bilateral relations have come a long way in the past eight years.
CREDAI has over 13,000 developers as its members.
Over 1,300 developers from India attended the three-day conference.
(Apart from the title, this story was not edited by Siasat staff, but was posted from a syndicated feed.)
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