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Mohammad lauded for enhancing trade ties between UAE and India

posted on 28/03/2007: 790 views

New Delhi - Trade between the UAE and India is on the verge of experiencing a large surge in the coming months.

A large number of Indian companies are planning to enter into agreements with UAE-based companies, following an open invitation from His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, during his two-day visit to India.

The visit, which concluded on Monday, has already started creating a positive ambience, the credit for which is being given to the visionary leadership of Sheikh Mohammad.

"This visit was long overdue and turned out to be quite significant. To us, he was here not merely as the Ruler of Dubai but as the Prime Minister of the UAE. He has the great experience of developing Dubai and we got a feeling that he has plans of replicating the Dubai success story all over the UAE," said Arun Patankar, Co-Chairman of the Confederation of Indian Industries (CII).

According to him, the CII has firmed up plans to approach the Dubai Chamber of Commerce and Industry (DCCI) very soon to draw up a joint agenda to work together.

Sheikh Mohammad's gesture of starting his speech at the luncheon meeting with Indian industry captains by recalling how his father knew Indian businessmen by name is being regarded as a grand gesture on his part and a reflection of his soft corner for India.

The top Indian real estate company, DLF group - which signed a 50:50 joint venture agreement with Nakheel, the Dubai-based property developer, worth $20 billion (about Dh73 billion) - is all praise for the UAE Vice-President.

The Videocon group that bought the Japanese company Sansui some time ago has also reacted positively to Sheikh Mohammad's call to invest in his country by announcing its plan to invest Rs10 billion in the country by setting up a core manufacturing unit in Dubai.

The Hindujas group have also said they would set up a manufacturing unit for their flagship firm Ashok Leyland in Dubai. (Gulf News)


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