30% of Dubai startups are owned by Indians Dubai Chambers’ CEO,Mohammad Ali bin Rashed Lootah
Mohammad Ali Rashid Lootah, President & CEO of Dubai Chambers,Delivering the Keynote address
Celebrating the special economic relations between India and the UAE, Dubai Chambers today hosts the India-UAE Partnership Summit at its headquarters in Dubai.
Hon. Piyush Goyal, Minister of Commerce & Industry, Government of India, inaugurated the Summit with an opening keynote where he highlighted that the UAE-India Comprehensive Economic Partnership Agreement (CEPA) has given a natural boost to key sectors such as food and agriculture products as well as gems and jewelry.
“India and the UAE are both pursuing dynamic trade and investment policies. India hopes to see its exports touch US$1 trillion in the near to medium term. Our growing bilateral trade will play an integral role in the UAE’s efforts to double the size of its economy by 2030. The destinies of the UAE and India have been inextricably intertwined for centuries. A closer collaboration, trust and the spirit of entrepreneurship will create limitless opportunities for our economies, our industries, our cities, and our people, now and for generations to come. This is the vision that CEPA aims to turn into reality.” Hon. Goyal said.
He also highlighted the various cooperation prospects which include the rupee-dirham trade, the virtual trade corridor, the food corridor and leveraging UAE and India’s startup ecosystems. Sectors such as textiles, green energy (wind, solar and hydro), connectivity infrastructure (airports, ports and roads) as well as waste management, were also amongst the areas of opportunity for both countries.