Lucknow: Uttar Pradesh MSME Minister Rakesh Sachan on Saturday said the ongoing UP Global Investors Summit 2023 will further strengthen the traditional relationship between India and the UAE.
Addressing a session attended by delegates from the United Arab Emirates (UAE) on the second day of the summit here, Sachan said, “We look forward to good relations with the UAE in UP. Last month, our team visited the UAE, where Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, warmly welcomed us.”
“The Abu Dhabi Chambers of Commerce and Industry also extended a lot of cooperation. Lulu Mall has signed an MoU of Rs 3,300 crore with us, under which it will open malls in Ayodhya and Varanasi as well as some other places,” he added.
The Elana Group has also announced an investment in the food processing sector, the minister said, adding that an agreement has been signed with Lulu Mall so that products made by women self help groups can reach people through its malls.
Sachan also interacted with UAE Minister of State Ahmed bin Ali Al Sayegh and Zeyoudi during the session.
The delegates from the UAE said in the coming days, many of their investors will move to Uttar Pradesh and take advantage of the investment-friendly environment of the state.
Urging investors to collaborate in Uttar Pradesh, Sachan said, “The mantra given by Chief Minister Yogi Adityanath of ‘work for every hand, smile on every face’ has to be made successful at all costs. I appeal to the investors of UAE to come and invest in the state.”
The UAE minister of state said, “We have mutual relations with Uttar Pradesh. We have recently taken forward government-to-government cooperation with each other and I am hopeful that this cooperation will scale new heights.”
“Apart from traditional investments in Uttar Pradesh, we are also focusing on new and emerging sectors. These include defence, space, food processing, agriculture processing, climate, drone technology, logistics and many other areas,” he said
“In this series, some UAE companies are going to set up food parks in Uttar Pradesh. We have set a target that the UAE’s total trade with India will reach USD100 billion in the next five years,” the minister added.