The Government of India has decided to open an office of Invest India in Dubai, UAE to serve as a dedicated point of contact for potential UAE investors seeking to invest in India. The office will further widen and deepen the range of investments coming from the UAE and the broader region. This will be the first such overseas office of Invest India in the Middle East region and its second overseas office overall after Singapore.
The issue was discussed during the 12th Meeting of the India-UAE High Level Joint Task Force on Investments in Mumbai on October 7, 2024, which was co-chaired by Piyush Goyal, Commerce & Industries Minister of India and His Highness Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority.
Speaking on occasion, Union Commerce and Industry Minister Piyush Goyal said: “The government has expanded the mandate of Invest India to enable them to focus on global expansion and offer investors a one-stop solution by providing access to all necessary information and clearances.”
Invest India is the National Investment Promotion and Facilitation Agency of India, set up as a non-profit venture under the aegis of the Department of Industrial Policy & Promotion, Ministry of Commerce and Industry, Government of India. It facilitates and empowers all investors under the ‘Make in India’ initiative to establish, operate, and expand their businesses in India.
UAE continues to be the largest Arab investor in India with investments amounting to around US$ 3 billion in FY 2023-24. The UAE was the sixth largest FDI source for FY 2023-24 and seventh largest overall since 2000. Over 70% of all GCC investments come from UAE. The new India-UAE Bilateral Investment Treaty, which entered into force on August 31, 2024, will further strengthen two-way investment flows.
Meanwhile in Goa, a delegation of the ICONS of Dubai called on Chief Minister Dr. Pramod Sawant at Mantralaya, Porvorim. They discussed various aspects regarding the ‘Amazing Goa’ Global Business Summit 2024 to be held from 8th to 10th November. The Chief Minister extended a warm invitation to the businesspersons, investors associated with the ICONS of Dubai for the Summit and invest in Goa.
“The Govt of Goa is taking a step ahead with Make In Goa complementing Make In India, working to make Goa most preferred investment destination with constant focus on improving Ease of Doing Business in the state,” posted Dr Sawant on his social media handle.
