India expansion could be announced in Vibrant Gujarat Summit: EMAAR group CEO

UAE-based Emaar Properties Group CEO Amit Jain on Friday said India is a big investment for his company and the expansion announcement could be seen during the Vibrant Gujarat summit in New Delhi.

“We talked about our investments already…what Emmar can do in India, we talked about vibrant Gujarat, …talked about potential investment in Sabarmati river and Kevadia… I think these are very exciting projects,” the EMAAR Group CEO told ANI.

“India for us is a big investment and we wish to continue to make future investments in India,” Jain said following his meeting with Union Commerce and Industry Minister Piyush Goyal.

He added, “There are a number of projects that the minister has talked about, including in Northern India, other states, and we’re just working on that so that we can make something pretty remarkable in India.”

Speaking further on expansion, Jain said “I think we are just looking at a number of areas where we can expand in a number of sectors relating to real estate. And as vibrant Gujarat also comes, there could be announcements.”

On investments, he mentioned that his company is one largest real estate investors in India and wants it to be successful.

Notably, Union Minister Piyush Goyal is on a two-day visit to the UAE.

Elaborating on UAE’s interest in investment in India, Union Commerce and Industry Minister Piyush Goyal said in the days ahead a significant flow of investments both in public markets and in the manufacturing and services sector will be witnessed adding, “Even moon is not the limit.”

In an exclusive interview with ANI in Abu Dhabi,Union Minister Piyush Goyal said, “While at one point in time, we would say the sky is the limit, I can say now even the moon is not the limit.”
Union Minister Piyush Goyal was in UAE to co-chair the 11th Meeting of the India-UAE High-Level Joint Task Force to boost investments between the two countries.

He said, “They are very keen to invest in infrastructure projects, projects related to education and healthcare. They are looking at food and food processing in a very big way…The airline sector and the entire aviation ecosystem also hold a lot of promise. In the days ahead, we will see a significant flow of investments both in public markets and in the manufacturing and services sector, in pharmaceuticals, roads and highways, ports, and other infrastructure activities.”

Goyal was present during India and UAE’s signing of a Memorandum of Understanding (MoU) on the cooperation in the field of Industries and advanced Technologies and both countries also signed an agreement for the National Payments Corporation of India’s international arm to partner with UAE for developing a Domestic Card Stack similar to RuPay.

This MoU will facilitate the users of both the countries which would be as seamless as a domestic transaction using a beneficiary identifier (mobile number/VPA).

Goyal co-chaired the 11th India-UAE High-Level Joint Task Force on Investments with Sheikh Hamed bin Zayed Al Nahyan, MD of the Abu Dhabi Investment Authority and he said, “In all, this 11th high-level task force on investments has been full of outcomes. I am very confident that this will set in force a new era of partnership between the two countries, of expanding the scope and the width of investments from the UAE to India and certainly create millions of new jobs in India.”

Terming the India-UAE partnership as, unprecedented, Goyal added, “The United Arab Emirates and India share a strategic partnership which is unprecedented. Never before in the history of our relations have we had as many exchanges as we have had in the last few years.”