India-UAE trade reaches $70 Billion

Discussion in 'Economy & Infrastructure' started by ejazr, Jan 21, 2012.

  1. ejazr

    ejazr Stars and Ambassadors Stars and Ambassadors

    Oct 8, 2009
    Likes Received:
    Hyderabad and Sydney
    India and UAE Are Historical Business Allies: ADIA, Orissa Business News

    New Delhi: "We have been investing in India since India opened up. We share a comfort, a relationship that goes back to ancient history. And we are seriously looking forward to investing in different fields in the country," said Mr. Majed Salem Romaithi, Executive Director, Abu Dhabi Investment Authority (ADIA), at an exclusive interaction organized by Confederation of Indian Industry (CII).

    Mr. Majed said that his confidence in the nation got a booster during this current visit. "We leave India more optimistic than we came. It is easy to get carried with the negativity around. But when we saw the alignment of public and the private sector and the alignment of the people in politics and business behind the same ideas and their commitment to those ideas, we became optimistic about the success of our investments. We look forward to investing in both the private and public sectors," he said.

    Mr. S Mahalingam, Executive Director & Chief Financial officer, Tata Consultancy Services Ltd., said, "Our two countries are close friends that is reflected in our rapidly growing economic partnerships. UAE is indeed India’s largest trade partner with almost $70 billion of bilateral trade in 2010-11 that has moved beyond petroleum products."

    He envisaged close cooperation between the two countries in such varied fields as life sciences, biotechnology, healthcare, medical equipment, medical education, pharmaceuticals etc. He sought more participation in the creation of world class manufacturing hub that is a part of the new National Manufacturing Policy.

    "We do business with the world, but some of the leaders and businessmen we met here impressed us greatly. You have some of the most talented people in the whole world. This talent is India’s real resource. With resources like this, it is but a matter of time before we see good results and good returns both for the country and our investment in the country," Mr. Romaithi said.

    Commenting on the volatility of the market he said, "We are long term investors and we are not bothered by market volatility. Besides, for long term investors, volatility is not a risk, but an opportunity.

    Compared to other emerging economies our two countries share a better cultural understanding that goes back hundreds of years. Besides this, your democracy, rule of law and the sense of people’s voices being heard by the system and being reflected in government policies gives us the long term comfort feeling that our investment is protected."

    Mr. Ravi Parthasarathy, Chairman, Infrastructure Leasing & Financial Services Ltd., said, "We have had an exceptionally positive and interactive partnership with ADIA. They fund with lot of dignity and farsightedness." Addressing Mr. Romaithi, he said, "It has been refreshing to hear from you that you were able to separate the noise from underlying fundamentals and focus on energy that my country has."
    hit&run and LETHALFORCE like this.
  3. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

    Dec 17, 2009
    Likes Received:
    That number sounds a bit high. Only a month ago it was $50 billion.
    amoy likes this.
  4. hit&run

    hit&run Elite Member Elite Member

    May 29, 2009
    Likes Received:

Share This Page