New Delhi, August 10: With an aim to expand India-UAE economic relations at large scale, a mega business summit is going to be held on 27th and 28th September this year in Dubai. More than 400 business leaders from the two countries would be attending the two-day India-UAE Strategic Conclave 2017.
The mega trade event is being held about two years after Prime Minister Narendra Modi visited UAE, first time by an Indian Prime Minister in 34 years. The summit, it is said, would have the patronage and presence of Sheikh Nahyan Bin Mubarak Al Nahyan, Cabinet Member and Minister of Culture and Knowledge Development, UAE.
The summit is being supported by the Indian government’s flagship Make in India program and event’s industry partner is UAE India Business Council (UIBC). Industry association partners are: Indian Business & Professional Council (IBPC), Indian Economic Trade Organisation (IETO), Asian-Arab Chamber of Commerce (AACC) and Abu Dhabi Chamber of Commerce & Industry.
PM Modi’s visit to the United Arab Emirates (16-17 August 2015), at the invitation of UAE’s Crown Prince Mohamed Bin Zayed AI Nahyan, had marked the “beginning of a new and comprehensive strategic partnership between India and UAE in a world of multiple transitions and changing opportunities and challenges,” the two leaders had said in their joint statement on 17th August 2015. It was the first visit of an Indian Prime Minister to UAE after a gap of 34 years.
Both the nations had agreed among others to the following points:
Facilitate participation of Indian companies in infrastructure development in UAE
- Promote strategic partnership in the energy sector, including through UAE’s participation in India in the development of strategic petroleum reserves, upstream and downstream petroleum sectors, and collaboration in third countries.
- Further promote trade between the two countries, and use their respective locations and infrastructure for expanding trade in the region and beyond; and, with the target of increasing trade by 60% in the next five years.
- Tap India’s expertise in Small and Medium Enterprises to create a vibrant industrial base in UAE, which could also be of benefit to Indian enterprises.
- Strengthen cooperation between UAE’s increasingly sophisticated educational institutions and India’s universities and higher research institutions. Promote scientific collaboration, including in the areas of renewable energy, sustainable development, arid agriculture, desert ecology, urban development and advanced healthcare.
The points of agreements between PM Modi and Crown Prince Nahyan are clearly visible in the agenda of the September summit.
Macro Agenda of Conclave:
Investment Development & Promotion
FDI Regulatory Frameworks
Decoding Sustainable, Impactful & Responsible Investment
Regional & Global Investor Support
In view of the agreements and the agenda, the Indian industry business delegations travelling to Dubai are from:
- Tourism & Hospitality
- BFSI Sectors
- Oil & Gas
- The event is being supported by Make in India