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UAE-India Business Council, Rajasthan Government ink agreement
The MoU aims to boost investment in Rajasthan, aligning with the Rising Rajasthan Global Investment Summit.
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UAE-India Business Council - UAE Chapter (UIBC-UC) and the Department of Industries and Commerce (DoIC) of Rajasthan have officially signed a Memorandum of Understanding (MoU) / Image - UIBC-UC
The UAE-India Business Council's UAE Chapter (UIBC-UC) and the Rajasthan government’s Department of Industries and Commerce (DoIC) signed a pivotal Memorandum of Understanding (MoU) to promote investment and economic collaboration in the Indian State.
The agreement was formalized during the Rajasthan delegation's visit to Dubai, led by India’s Minister for Industry and Commerce, Rajyavardhan Rathore. It seeks to boost investment across key sectors, including renewable energy, logistics, tourism, and healthcare.
“This MoU is a critical step in enhancing economic relations and uncovering new collaborative opportunities across key sectors including skills development, logistics, tourism, healthcare, renewable energy, infrastructure, manufacturing, technology, and research,” said Faizal Kottikollon, chairman of KEF Holdings and UIBC-UC.
The MoU outlines several objectives, including promoting Rajasthan’s investment potential to UAE businesses, organizing joint events, and sharing market intelligence. A Joint Working Group (JWG) will be established to facilitate smooth communication between the two parties.
UAE representatives at the signing included prominent business leaders like Rizwan Soomar, CEO of DP World, and Adeeb Ahamed, managing director of Lulu Financial Holdings.
The agreement is part of India and the UAE’s broader efforts to strengthen economic ties, following the signing of the Comprehensive Economic Partnership Agreement (CEPA) last year.
Further, the agreement aligns with the promotion of the upcoming Rising Rajasthan Global Investment Summit 2024, set for Dec. 9-11 in Jaipur, which aims to attract global investments in sectors such as Agri & Food Processing, chemicals, and education. A special invitation was extended to the UIBC-UC to attend the summit.
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