The inaugural meeting of the UAE – India Joint Investment Taskforce was held on 18th February 2013 in Abu Dhabi, UAE. It was co-chaired by HH Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince Court, and Shri Anand Sharma, Minister of Commerce, Industry and Textiles. The issues relating to promotion and facilitation of investments between the two countries and the modalities to address issues associated with existing investments between the two countries were discussed.

UAE offered to allocate USD 2 billion for investments in infrastructure projects in India.

It was decided that Governments of both countries would provided assistance and support for expediting the resolution of issues associated with existing investments and opportunities for new cross-border investment across a range of sectors.

This information was given by the Union Minister for Commerce and Industry, Shri Anand Sharma in a written reply in the Lok Sabha today.

DS/RK

(Release ID :94836)

Cross-border investment facilitation as governments agree to assist, expedite issue resolution and support infrastructure investments. The Joint UAE-India Investment Taskforce agreed on modalities to expedite resolution of issues affecting existing investments and to promote new cross border investment across sectors; the UAE offered a dedicated allocation for infrastructure projects in India and both governments committed to provide assistance and support to accelerate implementation and address investor concerns.