UP investor summit to strengthen India-UAE ties: State Minister Sashan

lucknow: Uttar Pradesh MSME Minister Rakesh Sachan on Saturday said the ongoing UP Global Investor Summit 2023 will further strengthen the traditional relationship between India and the UAE.

Speaking at a meeting attended by representatives of the United Arab Emirates (UAE) on the second day of the summit, Sachan said: “We look forward to building a good relationship with the UAE at UP. Last month, our team visited the UAE and Minister of State for Foreign Trade Thani bin Ahmed Dr Al Zeyoudi gave us a warm welcome.”

“Abu Dhabi Chamber of Commerce and Industry has also done a lot of collaboration. Lulu Mall has signed a Rs 3,300 crore MoU with us under which it will open malls in Ayodhya and Varanasi and some other places,” he added.

Elana Group had also announced an investment in the food processing industry, the minister said, adding that it had signed an agreement with Lulu Mall so that products produced by women’s self-help groups could reach people through its malls.

During the meeting, Sachan also interacted with UAE Minister of State Ahmed bin Ali Al Sayegh and Zeyoudi.

Representatives from the UAE said that in the coming days, many of their investors will move to Uttar Pradesh and take advantage of the state’s investment-friendly environment.

Urging investors to cooperate in Uttar Pradesh, Sachan said: “The mantra of ‘every hand works, every face smiles’ as stated by Chief Minister Yogi Adityanath must be realized at all costs. I appeal to investors in the UAE to come forward. Come invest in the state.”

“We have mutual relations with Uttar Pradesh. We have recently advanced intergovernmental cooperation, and I hope this cooperation will take it to the next level,” said the UAE Minister of State.

“Apart from traditional investments in Uttar Pradesh, we are also focusing on emerging sectors. These include defence, space, food processing, agriprocessing, climate, drone technology, logistics and many others,” he said

“In this series, some UAE companies will set up food parks in Uttar Pradesh. We have set a target that the total trade between the UAE and India will reach $100 billion in the next five years,” the minister added.