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India-UAE's natural partnership will benefit both countries in terms of opportunities, employment: Piyush Goyal

DUBAI: Union Commerce Minister Piyush Goyal on Saturday said that India and the UAE share a natural partnership that will benefit both countries in terms of various opportunities and employment.

Addressing a press conference on the sidelines of the Dubai Expo 2020 here today, the Union Minister said, "UAE has over the years developed capabilities in industries where low-cost energy can help India get quality products at very effective prices. Therefore, I believe this is a natural partnership that will benefit both countries, provide opportunities for both countries, provide huge employment, particularly in sectors that are labour-oriented like textiles, footwear and food processing."

Stating that India and the UAE share a lot of complementarities and are not competitors Goyal stated that both countries can collaborate to serve the world.
He further said, "India and UAE share a lot of complementarities. We are not in competition with each other. We actually can collaborate to serve large parts of the world. There are many areas of interest for Indian businesses like textiles, leather, accessories, footwear, pharmaceuticals and healthcare."

"We have a lot of potential that is available for Indian businesses while dealing with UAE on high-quality technology work like providing software services, IT services, ensuring that our professionals get new opportunities in this fast-growing financial set-up," said the Union Minister.

Stating that UAE has potential offerings for India, Goyal said that investment is a major area, in which both countries can work together.

Goyal said, "UAE has good potential offerings for India. Investment is one big area, in which we can expect to work together. I have a high-level task force meeting on investments later this afternoon. Another area we're cooperating is climate change."

"So both in goods and services, I see tremendous potential. Foodstuffs for example, it's one of the mainstays of our trade with the UAE, including rice and basic food grains, processed foods, packaged foods," he added.

Coinciding with India's celebrations of Amrit Mahotsav, 75 years of Independence, Dubai Expo 2020 is a significant platform for India to showcase its vibrant culture and tremendous growth opportunities for the next six months.

Earlier on Friday, Goyal inaugurated the India Pavilion at Expo 2020 Dubai.

Among the 192 participating countries, India has the biggest pavilion in the expo.

Fifteen states and nine central ministries from India are participating in this six-month-long expo, which will end on March 31, 2022.

The India Pavilion features an innovative kinetic facade made up of 600 individual colourful blocks. It is developed as a mosaic of rotating panels that will depict different themes as they rotate on their axis.

It represents the theme of 'India on the move' and is a unique amalgam of the rich heritage and technological advances of the nation.

A large number of Indian conglomerates and global companies are also participating. India's participation in Expo 2020 Dubai primarily focuses on presenting unlimited opportunities for the global community to participate in the country's growth story and benefit from it.

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