UAE Chapter of UAE-India Business Council launched
Faizal Kottikollon is the Chairman of UIBC-UC
Abu Dhabi (UAE): The UAE-Indian business council has been established on the first anniversary of the Comprehensive Economic Partnership Agreement (CEPA) deal signed by India and the United Arab Emirates. The formation of the council is aimed at increasing investment and bilateral trade between the two countries.
The UAE India Business Council - UAE Chapter (UIBC-UC) was launched in Dubai by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, in the presence of Ambassador of India to the UAE Sunjay Sudhir, Consul General of India in Dubai Dr. Aman Puri and founding members of the UIBC-UC.
“This is a very significant thing,” said Sunjay Sudhir. “We want to bring together their experience of doing business in both countries so as to further lubricate the investment and business corridor between both countries. They will discuss ideas on how to further generate trade and investment opportunities.”
(Faizal Kottikollon)
Prominent NRI entrepreneur Faizal Kottikollon is the chairman of the newly launched council. Faizal Kottikollon said the main purpose of the council was to build trust.
“In the past, several UAE companies have taken some poor decisions while investing in India because they were not confident to invest large amount of money,” he said. “We will act as a channel partner and a bridge. The basis of any business is trust. When you develop trust, everything becomes easier.” He was quoted as saying by Khaleej Times.
With both countries growing rapidly, Faizal, who is the chairman of KEF Holdings, said this council was the need of the hour. “UAE has become the centre of the world after Covid,” he said. “India has got so much knowledge, but we need a lot of capital. UAE got a significant amount of capital. So, if you can marry these two things, it’s a powerhouse. What this council does is identifying projects in both the countries and bring investment through this channel.”
Faizal confirmed that there are several projects already in the pipeline. “We are very confident that there’ll be three large investments coming into India soon,” he said. “We will announce the details in due course of time, but I can assure you that it is indeed a very exciting time.”
The founding members of the UIBC-UC from the UAE side are Mubadala, Wizz Financial, DP World, Emaar, Emirates airline and Emirates NBD. From the Indian side, conglomerates such as Tata, Reliance, and Adani are represented, as well as tech innovators like OLA, Zerodha, Udaan, and EaseMyTrip, along with prominent Indian entrepreneur-led corporations based in the UAE such as KEF Holdings, Buimerc Corporation, Apparel Group, EFS and Lulu Financial.
Siddharth Balachandran, executive chairman and CEO of Buimerc Corporation Ltd said the UIBC-UC will further strengthen the growth of India-UAE relationship. “To channelise the various investments, we need channels like these,” he said. “It will add a layer of credibility and give investors a channel to verify investment opportunities.”
Rizwan Soomar, CEO & MD (India Subcontinent) at DP World, will serve as the Co-Chairman of UIBC-UC. Major General (Retd.) Sharafuddin Sharaf, who serves as the Chairman of the UIBC India Chapter, will also hold the position of Vice Chairman of UIBC-UC.
The council will have its office in Abu Dhabi and will be a pan-UAE body focusing on promoting trade and investment relations between the UAE and India. Membership to UIBC-UC will be by invitation only, and institutional members will be invited over time.
An India chapter of the business council was established in New Delhi in 2015 by Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister for Foreign Affairs and International Cooperation, and the late Sushma Swaraj, who was then Minister of External Affairs of India, during the 11th Session of the India-UAE Joint Commission Meeting.
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India's neighbours wanted to break up Assam but Modi govt shattered their dreams: Fadnavis
Dibrugarh/Jorhat (PTI): Maharashtra Chief Minister Devendra Fadnavis on Tuesday claimed India's neighbours wanted to "break up" Assam by taking advantage of the unrest here earlier, but their "dreams were shattered" as the Narendra Modi government brought peace to the region.
Militancy has come to an end, and 92 per cent of the assurances made in the peace agreements with various groups have already been implemented, he told a poll rally.
Fadnavis maintained that the BJP-led government in Assam has not only ensured the state's development but also protected its identity.
He accused the Congress of having neglected the state and the northeastern region by adopting a "step-motherly attitude" towards them, while Modi has put the region at the centre of development.
Addressing a rally in support of BJP's Dibrugarh candidate Prasanta Phukan, Fadnavis said, "Due to the unrest in the state earlier, neighbouring countries thought they would break Assam someday. But their dreams were shattered by Modi ji, and Assam is progressing fast today."
Crediting the BJP government for bringing the militant groups to the mainstream, the Maharashtra chief minister said not only were peace accords signed with them, but 92 per cent of the assurances made have been implemented.
"Work is on for implementing the remaining eight per cent of promises also," he added.
Highlighting the various welfare measures of the state government, Fadnavis said special emphasis was being given on women's empowerment in line with the Centre's thrust on it.
"Women have benefited the most under Modiji's government. It will be 'Mahila raaj' from 2029 when 33 per cent reservation is implemented in Parliament and state Assemblies," he added.
Speaking at another rally in support of the BJP's Jorhat candidate Hitendra Nath Goswami earlier, the Maharashtra chief minister alleged that infiltration was at its peak in Assam under Congress governments.
"People had to launch a movement against it, and scores were martyred. But the influx did not stop, and the state was burning. It was staring at a full demographic change."
"But the situation changed when Modi came to power. Infiltration has been stopped, and almost all militant groups in the state are returning to the mainstream," he claimed.
Fadnavis claimed that the state's demography would have changed and Assam's history would have been rewritten under the Congress rule.
"But the Modi government works not just for development, but also protects the state's identity, culture, history, and tradition," he said.
He told the gathering that the BJP-led government has ensured massive infrastructure development for the state.
Mentioning the Tata Group's semiconductor unit at Jagiroad, Fadnavis said, "It is a gift of Modi ji to Assam. It will place the state on the global map."
He added that countries with the ability to manufacture semiconductors will be global leaders in the future, and India has joined the elite ranks of a handful of nations.
Taking a dig at the Congress, Fadnavis alleged it had always adopted a "step-motherly attitude" towards the northeast, due to which the region did not see much development, and was embroiled in unrest.
He also criticised the opposition party for its "anti-national stance" during the West Asia crisis, claiming it was trying to create discontentment among the people by raising false doubts over the availability of LPG and fuel.
"We had also been in the opposition, but we had never acted in such a shameful manner," he said.
Taking a dig at state Congress president Gaurav Gogoi, who is also the opposition party's candidate in Jorhat, Fadnavis said, "Those in Lok Sabha should remain there. BJP will return to power, and he will have no work here."
Gogoi is also the opposition party's deputy leader in the Lok Sabha.
