During the second day of his visit to the UAE, Indian Prime Minister Narendra Modi visited Masdar City, a hub of clean technology and innovations in science and technology. Later, he met with a delegation of investors with the aim of promoting India as a country rich in investment opportunities.
The high-profile investment meeting included a UAE delegation led by UAE Economy Minister Sultan Al Mansouri along with the CEOs of National Oil Company (ADNOC), DP World, Emmar Properties, Abu Dhabi Investment Authority (ADIA), Emirates Airlines and Etisalat among others. The UAE Minister of State of Foreign Affairs Dr. Anwer Garghash also attended the meeting.
The members of the UAE delegation showed a keen interest in the Indian market and discussed with the prime minister their present investment details and future plans. Also participating in the meeting were renowned NRI investors, including Yusuffali M.A. of Lulu Group, who has more than Rs5000 crore investment in Indian retail and hospitality sector, B.R. Shetty, J.R. Gangaramani, Ram Buxani and Dr. V.P. Shamsheer
At the meeting, Prime Minister Modi gave a speech on the investment opportunities in India, urging UAE investors to explore possibilities in the country’s tourism, infrastructure and energy sectors. He mentioned that there is scope for immediate investment of over $1 trillion in India and pointed out that more than 500 railway stations could be immediately modified to develop into shopping malls, hotels and commercial centers.
He also noted that other investment opportunities existed in the real-estate sector where within the next seven years India would need over 50 million affordable housing units. Highlighting the investment potential in India, the prime minister said, “"I feel India is a land of many opportunities; the 125 crore people of India are not just a market, they are a source of great strength."