Indo-UAE Investment Summit to push ties with GCC countries

The Indo-UAE Global Investment Summit to be held here next week will boost trade between India and the Gulf Corporation Council (GCC) countries in sectors such as infrastructure, construction, renewable energy and oil & gas.
The day-long summit on May 24 will explore prospects for expansion and diversification of trade opportunities between India and GCC nations to widen the two-way trade basket.
The GCC comprises six Middle Eastern countries - Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman.
"India has emerged as the new frontier of investment opportunities, especially with the initiatives by government to facilitate trade and investment," PHD Chamber said.

The Government in March cleared an MoU between India and the UAE to explore opportunities for mobilisation of up to USD 75 billion long-term investment in the National Investment and Infrastructure Fund (NIIF).
In December 2015, the government had set up the Rs 40,000 crore NIIF, which is an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects.