India to seek investments from UAE in different sectors

India will seek investments from the UAE in areas such as petroleum, natural gas, civil aviation, railways, and shipping during a high-level meeting between the countries, the commerce ministry said on Friday.

Commerce and Industry Minister Piyush Goyal will attend the India-UAE High Level Task Force on Investment meeting on Saturday and Sunday.

"The meeting proposes to deliberate in eight identified sectors where the Indian minister will proactively seek FDI (foreign direct investment) from the UAE into India," the ministry said in a statement.

The sectors are petroleum and natural gas, food processing, civil aviation, railways, renewable energy, infrastructure, shipping and construction.

The task force was established in May 2012 to address issues associated with existing investments between the countries. It is an institutional arrangement to discuss ways for increasing investments and deliberating on opportunities for cooperation and investment.

During his visit, Goyal will also unveil the design of the India Pavilion at the World Expo 2020 in Dubai, which will take place for six months beginning October 20, 2020, up to April 10, 2021.

"The India Pavilion will be a permanent structure being constructed in the 'Opportunity' segment," it said.

Twenty-seven focus sectors have been identified to showcase India's advances in space, pharmaceuticals, information technology, renewable energy and telecom sectors and also strength in innovation and start-ups.