Suresh Prabhu, Minister of Trade, Industry and Civil Aviation of India, yesterday met with Dr. Ahmed Abdul Rahman Al Banna, UAE Ambassador to India, and Mohamed Ali Alabbar, Chairman of Emaar Properties.
During the meeting, both sides discussed the current commercial activities of Emaar in India and its future plans.
Dr. Al Banna thanked Prabhu and appreciated India’s efforts to facilitate foreign investments while praising India’s achievement by rising 23 places in the “International Businesses Practices Rankings.”
Al Abbar explained Emaar’s commercial activities in India and noted that Emaar is one of the biggest Emirati investors in the country, and is still committed to increasing its investments in the Indian market.
Regarding the company’s future investment plans, he stressed that Emaar is keen to diversify its activities, including by investing in logistical services, food storage centres, real estate development and traditional properties. He also affirmed that food security is one of the key priority sectors in the UAE while expressing Emaar’s desire to create relevant partnerships with the private sector.
Al Abbar praised India’s efforts to solve issues related to investments and Emirati companies in India while pointing out that a high-level investment task force accomplishment significant achievements in solving some of these issues. The formation of the “Fast Path Committee,” under the supervision of Dr. Al Banna and Ramesh Abhishek, Deputy Director of Policy and Industrial Development of India, will provide significant support to solve these issues, according to a specific timeframe, he said in conclusion.
Source: UAE Ministry of Foreign Affairs