Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, met Shri Piyush Goyal, Honorable Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles in New Delhi. Both ministers addressed a joint press conference on the successful conclusion of the first meeting of the UAE-India Comprehensive Economic Partnership Agreement (Cepa) Joint Committee, Trend reports.
The UAE has emerged as the fourth largest investor in India during 2022-23, with foreign direct investment (FDI) from the Arab world’s second-largest economy to the South Asian country jumping over three-fold to $3.35 billion from $1.03 billion in 2021-22, according to official data.
The UAE‘s elevation as the fourth largest investor in India in the last fiscal compared to the seventh position in 2021-22 is subsequent to the landmark Comprehensive Economic Partnership Agreement (Cepa) signed in 2022 by the two nations, data of the Department for Promotion of Industry and Internal Trade (DPIIT) showed.
Singapore was the largest investor in India with a $17.2 billion investment in FY23, followed by Mauritius ($6.1 billion) and the US ($6 billion).
Source : Trend