New Delhi has urged the United Arab Emirates to invest in India. Addressing the captains of Industry in UAE capital Abu Dhabi on Tuesday, President Pratibha Devisingh Patil said India is an attractive destination for foreign investment. Underlying the fact that New Delhi has embarked upon an ambitious program of disinvestment in its public sector undertakings, she said, it has a huge requirement for developing basic infrastructure like roads and ports, power generation and communications, among others. She reminded that with an annual bilateral trade turnover of over 43 billion US Dollars, India and the UAE are leading trade partners for each other. President Patil expressed hope that a Free Trade Agreement with the Gulf Cooperation Council countries will be finalized soon. She said, there is need for reactivating the India-UAE Joint Business Council to diversify its trade basket.Earlier, Mrs. Patil visited Abu Dhabi Indian School and interacted with the students. She also witnessed a cultural programme hosted on the occasion.The President also inaugurated the Indian Islamic Centre in Abu Dhabi. Speaking on the occasion she expressed the hope that the Centre will prove to be a valuable cultural bridge between the UAE and India. Mrs. Patil maintained, the Centre will also serve to highlight among the Emirati community, the close and friendly ties between two countries.
News On AIR | November 23, 2010 6:25 PM
New Delhi urges UAE to invest in India