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India’s Minister of Finance Arun Jaitley

Debut Arab-India forum on bilateral trade

DUBAI, October 13, 2015

The inaugural Arab India Economic Forum (AIEF) in Dubai, UAE will feature discussions on the extensive economic opportunities that can be leveraged between Arab nations and India for investment.

India’s Minister of Finance Arun Jaitley is set to launch the event scheduled to be held on November 16 and 17, where he will address an elite gathering of senior dignitaries, government officials and business leaders from around the Arab region.

The minister will take the opportunity to shed more light on the business and investment opportunities in India regarding Make in India and Digital India initiatives as well as energy (traditional and renewable), infrastructure, financial services and tourism, including medical and wellness tourism.

The forum will also address the policy framework and guidelines required to draw the attention of Arab investors and industrialists while providing a strong platform for Indian businesses aiming to explore the Middle East market.

The two-day event is expected to attract over 300 delegates, mainly political and business leaders from the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, Jordan, Egypt and India.

Jaitley will be joined by a distinguished panel of speakers from Dubai Department of Economic Development and Mumbai Stock Exchange as well as invited speakers from Ministry of Tourism-India, Ministry of Economy-UAE, Ministry of Commerce and Industry-Saudi Arabia and Ministry of Economy and Commerce-Qatar.

The Arab-India Economic Forum (AIEF) is being supported by Consulate General of India – Dubai with Bloomberg Businessweek Middle East as the media partner.

As per official reports, India is the UAE’s second largest trade partner after China as trade between India and the UAE crossed $59 billion per year, with Indian exports worth $33.3 billion to the UAE and $26 billion worth of UAE’s exports to India. The relationship is set to get stronger under the new government which is keen to implement investor friendly policies. The ‘Make in India’ initiative is expected to provide a much needed boost to the Indian manufacturing sector, much of which will be exported and re-exported via Dubai, UAE.

The relationship with the Arab region, especially the GCC states of UAE, Saudi Arabia, Qatar, Kuwait, Oman and Bahrain, is incredibly valuable to India. In 2013-2014, Saudi Arabia was India’s fourth largest trade partner recording bilateral trade worth $48.75 billion with Saudi Arabia alone being responsible for 8.12 per cent of India’s imports. – TradeArabia News Service




Tags: India | Minister of Finance |

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