India and the UAE have a natural cooperation, according to Union Commerce Minister Piyush Goyal, which will benefit both nations in terms of varied prospects and jobs.
The Union Minister, speaking at a news conference on the sidelines of the Dubai Expo 2020, said, “Over time, the UAE has established expertise in areas where low-cost energy may assist India in obtaining high-quality goods at cost-effective pricing. As a result, I believe this is a natural alliance that will benefit both countries, generate possibilities for both countries, and create a lot of jobs, especially in labour-intensive industries like textiles, footwear, and food processing.”
Both countries, according to Goyal, have a lot of complementarities and are not competitors.
He went on to say, “India and the United Arab Emirates have a lot in common. We are not competing with one another. We can truly work together to serve vast swaths of the globe. Textiles, leather, accessories, footwear, pharmaceuticals, and healthcare are just a few of the industries that Indian companies are interested in.”
“There is a lot of potential for Indian firms engaging with the UAE on high-quality technological work like delivering software services, IT services, and ensuring that our experts receive new possibilities in this fast-growing financial set-up,” the Union Minister added.
According to Goyal, investment is a crucial area where the two countries can collaborate.
According to Goyal, “The United Arab Emirates has a lot to offer India. One major area where we may expect to collaborate is in the realm of investment. Later this afternoon, I have a high-level task force meeting on investments. Climate change is another area where we’re working together.”
“So I see huge possibilities in both commodities and services. Rice, basic food grains, processed meals, and packaged foods, for example, are one of the pillars of our commerce with the UAE ” Goyal added.
Dubai Expo 2020 is a huge platform for India to showcase its rich culture and tremendous growth potential for the next six months, coinciding with India’s festivities of Amrit Mahotsav, 75 years of independence.
Goyal had already inaugurated the India Pavilion at Expo 2020 Dubai on 1st October. India has the largest pavilion at the expo, with 192 countries participating.
This six-month expo, which will culminate on March 31, 2022, will feature fifteen Indian states and nine national ministries.
The India Pavilion has a unique kinetic facade made up of 600 different coloured bricks. It’s being built as a mosaic of rotating panels that will represent various themes as they spin on their axis.
It is a one-of-a-kind amalgamation of India’s rich tradition and modern achievements, and it reflects the subject of ‘India on the Move.’
A huge number of Indian conglomerates and international firms are also taking part. India’s participation in Expo 2020 Dubai is largely focused on providing limitless chances for the international community to engage in and benefit from the country’s success story.