NEW DELHI, 13th November (WAM) — Abdulla bin Touq Al Marri, Minister of Economy and Tourism, led the UAE delegation to the 31st Confederation of Indian Industry (CII) Partnership Summit, held in Visakhapatnam, Andhra Pradesh, India, on 12th and 13th November. The summit was organised by CII in cooperation with the Department for Promotion of Industry and Internal Trade (DPIIT) under India’s Ministry of Commerce and Industry.
Held under the theme “Navigating the New World Order: Trade, Technology, Trust and Thought Leadership”, the summit brought together leaders, government officials, policymakers, investors and industry leaders from around the world to exchange views on opportunities and challenges relating to trade, technology, trust and thought leadership.
Bin Touq affirmed that the partnership between the UAE and India is founded on deep-rooted historical ties, longstanding cooperation across diverse economic fields and close links between their peoples. He noted that the partnership had developed significantly in recent years, expanding into new economic sectors.
He highlighted the importance of the UAE’s participation in the CII summit, describing it as an important platform for exchanging insights and expertise on global economic shifts, exploring ways to further advance the UAE-India partnership, strengthening links between the two countries’ business communities and identifying new partnership opportunities in future economic sectors, particularly the new economy, advanced industries, logistics, food security, financial services, digital infrastructure and artificial intelligence.
Bin Touq attended two main sessions during the summit. The first, a ministerial session, addressed global economic shifts and their implications for international cooperation. The second, about elevating bilateral investment between India and the UAE, focused on exploring opportunities to expand the two countries’ investment partnership.
Speaking during the ministerial session, he said the world was undergoing rapid economic shifts that required the continued development of international economic partnerships, given the opportunities and challenges arising from current changes and the reshaping of supply chains. He added that international cooperation was becoming increasingly important in developing advanced industries and technologies, harnessing artificial intelligence and quantum computing, supporting the transition to clean energy, strengthening food security and developing the skills and capabilities needed for the economy of the future.
He added that the complementary strengths of the UAE and India offered extensive opportunities to develop cooperation in future sectors. The UAE benefits from advanced infrastructure, a strategic location and strong capabilities in logistics, energy and technology, while India has skilled human resources, innovation capabilities and advanced expertise in technology and digital engineering.
“We are working to harness these strengths to establish joint projects, enhance production capabilities and expand cooperation in advanced industries and value-added sectors, supporting the competitiveness of both countries’ economies and strengthening their sustainable growth,” he said.
During the second session, Bin Touq outlined the UAE’s most promising economic opportunities and the competitive advantages it offers investors and companies seeking to expand and grow. These include a flexible legislative and regulatory environment, open economic policies, advanced infrastructure and measures that facilitate doing business.
He also highlighted the support available to Indian companies seeking to expand their presence in the UAE market, particularly in the new economy, food, entrepreneurship, advanced technology, energy, logistics, manufacturing, supply chains, data centres and electronics.
The session was attended by T. G. Bharath, Minister for Industries, Commerce and Food Processing in the Government of Andhra Pradesh; Shashwat Goenka, Vice Chairman of RP-Sanjiv Goenka Group; Abhishek Dev, Chairman of the Agricultural and Processed Food Products Export Development Authority under India’s Ministry of Commerce and Industry; and Dr P. N. S. V. Narasimham, President of Corporate Functions at Cyient.
The UAE delegation included government officials and diplomatic representatives, alongside representatives of companies and economic institutions, including Dubai Silicon Oasis, Sharaf Group, FADA Space, LuLu International, DP World and Gulftainer.
Source: Emirates News Agency