UAE-India Business Council in major Rajasthan investment deal
DUBAI, September 22, 2024
In a transformative move for international investment and economic collaboration, the UAE-India Business Council - UAE Chapter (UIBC-UC) and the Department of Industries and Commerce (DoIC) of Rajasthan have officially signed a Memorandum of Understanding (MoU).
The signing took place during the Rajasthan official delegation’s visit to Dubai, led by Colonel Rajyavardhan Rathore, the Indian Minister for Industry and Commerce. The move is mainly aimed at bolstering investment and business collaboration in the Indian state.
Accompanied by senior officers, including Sidharth Sihag, Joint Secretary to Chief Minister of Rajasthan and Sourabh Swami, Additional Commissioner, Bureau of Investment Promotion, along with Atul Sharma, Director, FICCI, Rajasthan State Council, the delegation was in Dubai to promote the upcoming Rising Rajasthan Global Investment Summit 2024, scheduled to be held from December 9 to 11 in capital Jaipur.
The Rising Rajasthan Summit represents a critical platform for attracting global investments across diverse sectors such as Agri & Food Processing, Auto Components, Chemicals & Petrochemicals, and Education & Skill Development.
The MoU outlines key objectives such as promoting Rajasthan’s investment potential to UAE-based businesses, supporting joint events and workshops, and facilitating the exchange of vital market intelligence.
By creating robust networking opportunities, the agreement seeks to connect UAE investors with Rajasthan-based enterprises and government entities, thereby stimulating greater investment interest and business partnerships.
To ensure effective implementation, a Joint Working Group (JWG) will be established with representatives from both parties, each designated as primary points of contact for streamlined communication and coordination.
The MoU was signed when the delegation met with UIBC-UC Founding members in a group closed-door roundtable, which was attended by Satish Sivan, Consul General of India to Dubai & Northern Emirates.
The roundtable was led by UIBC-UC and KEF Holdings Chairman Faizal Kottikollon, in the presence of prominent members including Rizwan Soomar, CEO & Managing Director - Middle East, North Africa & India Subcontinent of DP World and UIBC-UC Co-Chair; Adeeb Ahamed, Managing Director of Lulu Financial Holdings and UIBC-UC Board Member; Shyam Kapur, Group President & CEO of Sharaf Group; Pankaj Khandelwal, CFO - UAE & India of EFS Facilities Services; and Kshitij Korde, Head of Corporate Affairs, UIBC-UC.
"This MoU is a critical step in enhancing economic relations and uncovering new collaborative opportunities across key sectors including skills development, logistics, tourism, healthcare, renewable energy, infrastructure, manufacturing, technology, and research," said Kottikollon.
"By synchronizing the signing with the Dubai visit, the Rajasthan government has underscored its commitment to attracting global investors and showcasing the state's dynamic business environment. The establishment of the Joint Working Group further ensures that this ambitious agreement will be effectively implemented, paving the way for a dynamic and mutually beneficial future," he added.-TradeArabia News Service
