Dubai – Mubasher: Trade exchange between the UAE and India is expected to reach $100 billion by 2020, director of Investment Promotion in Dubai Investment Development Agency (Dubai FDI) Ibrahim Ahli has said.
To this end, Dubai FDI, a subsidiary of the Department of Economic Development (DED), has wrapped up a visit to the Indian cities of Mumbai, Hyderabad, and Kochi in a bid to boost foreign investment.
Dubai FDI reached out to solution providers in a slew of fields stretching from the logistics sector to healthcare, pharmaceuticals, tourism and hospitality in the three Indian cities, state news agency WAM reported.
"In India we were able to connect with our audiences and engage them in identifying areas where Dubai can place them on the forefront of emerging industries and technologies," Ahli told Arabian Business.
India has been ranked as the second largest investor in Dubai over the last three years, Ahli said, adding that Indians are among the top nationalities of property owners in the emirate.
“Major areas where UAE-bound FDI landed in 2017 included manufacturing, renewable energy, aviation, travel and tourism, logistics, technology and healthcare,” Ahli added.
The official further noted that there are 1,600 flights between Dubai and India per week, while 1.2 million Indian tourists visited Dubai in 2017.
