NEW DELHI: The UAE Ministry of Economy and the Confederation of Indian Industry on Wednesday hosted the Indian edition of Investopia Global Talks, a series of sessions aimed at strengthening collaboration in new economic sectors, in Chennai.
Launched in 2021, Investopia is a global investment initiative created by the UAE government to connect investors, business leaders and government officials to identify economic and investment opportunities. The first global talk was held in India in 2022 and the recent session is the third session held there.
UAE Minister of Economy Abdulla bin Touq Al-Marri led a 70-member delegation to the event, telling the 300 attendees that the UAE was “standing at the doorstep to engage with international partners.”
“It is essential to leverage our strengths, capitalize on new trends, embrace innovation and remain agile, adaptive and forward-thinking as a catalyst for sustainable growth.”
Alia Abdullah Al Mazroui, UAE Minister of State for Entrepreneurship and Startups, who was part of the delegation, urged stakeholders from the UAE and India to seize the opportunity to explore partnerships in both markets.
“For Indian companies operating in the new economy sector, I urge you to leverage the UAE’s highly nurturing environment to grow and scale at a global level and champion technology and knowledge transfer within the ecosystem,” she said.
India and the UAE have made significant strides in their relationship since signing a comprehensive economic partnership agreement in 2022 to expand trade and investment.
Since then, the number of exchanges between the two countries has increased, and trade has grown by more than 16% year-on-year. The main areas of activity have been energy, infrastructure and construction, technology and innovation, pharmaceuticals and healthcare, tourism and culture.
Indian Ambassador to the UAE Sunjay Sudhir said that relations between the two countries have made “rapid progress” over the past decade, resulting in a “paradigm shift in our relationship”.
“Investopia has already become a key event in the Indian corporate calendar,” he told Arab News.
“As we continue to work together, we are confident that our strategic partnership will enable our two countries to navigate complex global realities and have a lasting impact on regional and global stability, economic growth, and governance frameworks.”
Chennai is located in Tamil Nadu and is the second largest software exporter in India after Karnataka and is known for its automobile and engineering industries. Manufacturing contributes 33% to the state economy and agriculture 13%.
Tamil Nadu, home to around 1.9 million MSMEs, could be the starting point for new collaborations, the CII said.
“As the world recognises that MSMEs (micro, small and medium enterprises) are the backbone of the global economy and startups are the future, it is imperative that we naturally collaborate in these domains,” said Dr R. Nandini, CII Southern Regional Chairman.
“It is clear that the strengthened ties between India and the UAE are ushering in a new era of trade and investment opportunities, innovation and sustainable economic growth for both countries.”
