A slew of multi-billion, high-profile investment projects are learnt to be currently being drawn up to be unveiled at a mega bilateral event – India-UAE conclave – to be hosted by the UAE India Business Council – UAE Chapter (UIBC-UC), the official joint apex business body formed to strategise and support implementation plans under the bilateral comprehensive economic and investment treaty.
The proposed India Middle East Corridor (IMEC) project is also expected to get a major leg up, besides the multi-million-dollar India Hospital and Bharat Mart projects at the conclave, slated to be held early next year in Dubai.
The meet will see participation from government functionaries and industry leaders from both countries.
“The UIBC-UC is actively engaged in front-facing large-scale projects that serve as catalysts for bilateral economic growth between India and the UAE,” Faizal Kottikollon, Chairman of the Council, told Arabian Business in an exclusive interview.
Overall, the India-UAE conclave is poised to be a catalyst for innovation, collaboration, and strategic growth, eventually making it an eagerly anticipated event in the business and diplomatic calendar.
Kottikollon, who is also the founder and chairman of KEF Holdings, said the conclave will also focus on the historical, current, and future aspects of the bilateral relationship between India and the UAE.
“This initiative aims to harness our collective insights and expertise to foster deeper cooperation and explore new avenues for mutual growth and collaboration.”
The forthcoming conclave is part of a series of initiatives planned by UIBC-UC, comprising 19 top Indian and Emirati organisations as founding members, who, as a consortium, represent over $1 trillion assets under management, to support the UAE-India CEPA’s objectives of increasing non-oil trade to $100 billion and attracting $75 billion in investments from UAE to India.
Strengthening diplomatic and business ties
UIBC-UC will be coordinating a slew of high-level and closed-door visits between the UAE and Indian government officials and industry leaders over the next 3-6 months in the run-up to the event.
“By facilitating collaborations and creating business-friendly environments, we aim to significantly boost economic ties, create jobs, and spur innovation in both countries,” said the chairman of UIBC-UC.
He said these engagements also aim to strengthen diplomatic ties, explore new business collaborations, and showcase the strategic importance of our bilateral relationship.
The UIBC-UC chairman said the conclave’s agenda will be rich with diverse activities including keynote addresses, panel discussions, sector-specific breakout sessions, and practical workshops.
It will also have cultural showcases, featuring Indian films, literature, and arts to add a unique dimension and reflecting the vibrant cultural exchange integral to Indo-UAE relations.
Phased approach to support UAE-India CEPA
Kottikollon said UIBC-UC is poised to play a pivotal role in facilitating marquee investments such as the multi-million-dollar India Hospital and Bharat Mart projects over the next five years.
The India Hospital is billed as a transformative initiative aimed at enhancing healthcare infrastructure and services for blue-collar workers, the Bharat Mart project is expected to significantly boost bilateral trade between India and the UAE.
The UIBC-UC chairman said the Council will follow a phased approach to support the CEPA objectives by prioritising sectors that offer the greatest potential for growth and mutual benefit.
“With ambitious targets to boost non-oil trade and investments, the CEPA agreement lays the groundwork for substantial and transformative growth, and we support this mandate by
focusing on exciting sectors such as renewable energy, healthcare, and technology [in the initial phase],” Kottikollon said.
“Subsequent phases will expand into other strategic areas identified through ongoing dialogue and analysis with stakeholders from both India and the UAE,” he said.
He said the Council is already associated with projects like Emaar’s first FDI project in Srinagar.
Additionally, UIBC-UC plays a crucial role in conducting research and facilitating dialogue between key stakeholders from both countries.
It acts as a bridge, fostering partnerships and collaborations that promote mutual understanding and shared prosperity.
Kottikollon, however, ruled out any immediate plans to expand UIBC-UC’s membership base.
“We, however, remain open to collaborating with other major industry players who can contribute substantial value,” he said.
Kottikollon said members of the UIBC-UAE Chapter, formed on February 18, 2023, coinciding with the CEPA signing anniversary, also serve as prominent speakers at prestigious global events such as the World Economic Forum, India Global Forum, and Investopia.
“By fostering strategic partnerships and enhancing economic cooperation, UIBC-UC aims to
strengthen ties and drive sustainable growth across key sectors in both nations,” he said.
Follow us on
