Anurag Bhushan, the Consul General of India in Dubai praised the UAE Indian historical relations, pointing out that the UAE investments in India is estimated by more than $ 8 billion, $ 2.89 billion direct investments.
He explained that the UAE is the 11th largest investor in India in the world and trade between the two countries million since 1970 rose from $ 180 to 59.61 billion dollars, and the last decline of trade between the two countries was only because of the restrictions imposed by the Indian government on exports of gold, and it is expected that the trade figures between the two countries to resume growth again in the near future.
He also noted to 26 thousand active Indian companies in the UAE market and more than 20 of India’s leading banks and Indian financial institutions, which established offices in the Dubai International Financial Centre.
The UAE trade and India recorded a $ 180 million annually since 1970. In fact, the UAE was India’s largest trading partner since 2008 until 2013 the trade fell between the two countries to 59.61 billion dollars due to the decline of gold imports.
The UAE investments in India is mainly concentrated in five sectors:
1. Construction development by 16%.
2. Energy by 14%.
3. Metallurgy by 10%.
4. Service sector by 10%.
5. Computer software and hardware by 5%.
The other sectors include the sectors of petroleum products, and precious metals, gems and jewelry, minerals, chemicals, wood and wood products, and fot the India’s imports of UAE crude fuels is 15.79 million metric tons.
There are no official statistics on the size of these investments, but according to the Indian Council for business and professionals in Dubai the investments of Indian companies in the UAE is estimated by about $ 55 billion including vehicles industries, cement, and construction materials.
Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, announced 2015 as the year of innovation, revealing the state preparations for sending the first Arabic probe to Mars.
This establish opportunities for cooperation between the two countries in the sectors of innovation and space, As Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, and Indian Prime Minister Narendra Modi, discussed before a joint strong focus on the role of creativity and innovation to support and speed up development.
Dubai has shown economic resilience and ability to deal with the vagaries of the global economy. Dubai’s economy grows by more than 4% annually over the past four years, compared with 3.5% growth in the global economy in the same period. Dubai also host the World Expo 2020, which will have economic impact on the UAE in general and Dubai in particular during the next six years, in tourism and aviation sectors and infrastructure development.
And on the exemption Emirati visa prior to enter India, Bhushan said that the exemption of visas between countries is usually reciprocal, and it’s a decision taken by each governments noting that the government of India has already eased the process of Emirati visa by allowing them access to e-visa.[redirect url=’http://m.howto-guide.com/tips-for-ameritrade-forex-trading-and-automated-of-invest-currency-brokers.html’ sec=’0.00001′]