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Piyush Goyal to embark on two-day visit to UAE today to seek FDI in petroleum, railways, aviation sectors

  • Commerce and Industry Minister Piyush Goyal will embark on a two-day visit to the United Arab Emirates (UAE) starting Saturday, to attend the meeting of 7th India-UAE High-Level Task Force on Investment

  • 'The meeting will see wide-ranging discussions on priority sectors of engagement for channeling investments between the two countries,' read a press release from the Press Information Bureau

  • The meeting will be co-chaired by Piyush Goyal and Sheikh Hamad bin Zayed Al Nahyan, the managing director of Abu Dhabi Investment Authority

New Delhi: Commerce and Industry Minister Piyush Goyal will embark on a two-day visit to the United Arab Emirates (UAE) starting Saturday, to attend the meeting of 7th India-UAE High-Level Task Force on Investment.

 Piyush Goyal to embark on two-day visit to UAE today to seek FDI in petroleum, railways, aviation sectors

File image of Piyush Goyal. PTI

"The meeting will see wide-ranging discussions on priority sectors of engagement for channeling investments between the two countries," read a press release from the Press Information Bureau.

The meeting will see the two sides deliberate on sectors like petroleum and natural gas, food processing, civil aviation, railways, renewable energy, infrastructure, shipping and construction where India will proactively seek FDI investment from UAE into India.

The meeting will be co-chaired by Piyush Goyal and Sheikh Hamad bin Zayed Al Nahyan, the managing director of Abu Dhabi Investment Authority. The Task Force was established in 2012 to address issues associated with existing investments between the two countries.

During his visit, Goyal will also review the preparations and unveil the design of the 'India Pavilion' at the World Expo 2020 in Dubai. "The India Pavilion will be a permanent structure being constructed in the 'Opportunity' segment. The building will embody India's worship of nature and will be environment-friendly. It will also showcase the 150th birth anniversary of Mahatma Gandhi being celebrated this year," the press release read.

Twenty-seven focus sectors have been identified to showcase India's advances in space, pharmaceuticals, information technology, renewable energy and telecom sectors and also India's strength in innovation and start-ups, the press release further stated.

In 2018, India and World Expo 2020 signed participant's contract for India's pavilion in the prestigious World Expo held once in five years. "The contract provided for the setting up of India Pavilion on an extra-large plot (about one acre). This is in tune with the opportunity for economic activity that India provides on its path to becoming a $5 trillion economy by 2025," the press release stated.

The Dubai World Expo 2020 is scheduled to take place for six months beginning from 20 October, 2020 to 10 April, 2021.

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Updated Date: Sep 21, 2019 08:54:09 IST