The Indian Union Cabinet approved an investment deal (the Bilateral Investment Treaty) between India and the United Arab Emirates (UAE). The two nations' economic relations should significantly improve as a result of this.
Bilateral Investment Treaty
- An agreement between two countries aimed at enhancing industry and FDI.
- The government hopes the treaty boosts investor confidence, promoting foreign investments.
- Expected to create jobs.
Treaty approval aligns with the government's Atmanirbhar Bharat vision
- Promotes investments and self-reliance.
- Encourages domestic manufacturing.
- Reduces import dependence.
- Increases exports.
- Aims for economic growth.
Business relations between India and the UAE have improved in recent years. A free trade treaty was reached in May 2022, making commerce and investment simpler between the two countries. India has a lot of FDI. From April 2000 to September 2023, it received $16.7 billion.
(With Input from agencies)
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