The Indian government will open an office of Invest India in Dubai to serve as a platform to attract investors from the United Arab Emirates, said Union Minister for Commerce and Industry Piyush Goyal.
Goyal was addressing the media after the 12th meeting of India-UAE High-Level Task Force on Investment and also announced that the first international campus of the Indian Institute of Foreign Trade or IIFT will be set up in Dubai. This is another sign of the deepening strategic ties between the UAE and India.
Recently, Symbiosis International, one of India’s prestigious universities, launched its first international campus in Dubai, a boon for the 3.5 million-strong Indian community residing in the UAE. The move also signals a rising demand for top-tier higher education from Dubai’s burgeoning expat community.
During the meeting, co-chaired by Goyal and H.H. Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority, the two sides reviewed progress on several key initiatives including bilateral trade in local currencies, the integration of payment systems of India and the UAE, cooperation on Central Bank Digital Currencies, the launch of work relating to a Virtual Trade Corridor, and the development of a food park in Ahmedabad.
