| 4 February 2023, Saturday |

India strengthens ties with GCC nations, invites them to invest in sustainable energy

At an event at Expo 2020 Dubai on Tuesday, India invited Gulf Cooperation Council (GCC) member countries to invest in the country’s sustainable energy sectors, one of the Indian government’s major focus areas.

Vipul, Joint Secretary of the Gulf region at India’s Ministry of External Affairs, said in a statement released on Wednesday that Indian Prime Minister Narendra Modi announced that India would have 500 gigatonnes of renewable energy by 2030, adding that it was a good opportunity for the GCC to capitalize on.

“We need to evolve our areas of cooperation, and platforms like business technology corridors will be important for this.” “The theme of Expo 2020 itself assists us in moving our relationships forward and looking into sectors such as Sustainability, Mobility, and Opportunity,” he said.

“Essentially, potential areas of cooperation and partnership include renewable and hydrogen energy, electric vehicles, and health technology.”

He also stated that by 2025, India expects to attract up to $120-160 billion in foreign investment annually, and that Gulf countries are best positioned to capitalize on such opportunities due to their ties with India.

“India-GCC relations will be continuously strengthened, providing an enabling environment for businesses to succeed,” Vipul added.

According to Nasser al-Aqil, VP Strategic Partnerships and Government Affairs, National Companies Promotion Program, Kingdom of Saudi Arabia, India and Saudi Arabia are on a growth path, and business relationships are improving in a changing dynamic world.

“We look forward to strengthening India-Saudi ties,” al-Aqil added.

“Recently, we announced 50 different investment opportunities, and we’d like to hear from companies all over India.” “We want Oman to be a place where businesses can grow and thrive,” said Haura al-Wahaibi, Director of Investment Promotion at Oman’s Ministry of Commerce, Industry, and Investment Promotion.

According to Abdullah al-Basha al-Noaimi, the UAE’s Commercial Attache to India, there are numerous opportunities for mutual collaboration between the GCC and India in the field of female entrepreneurship.

Since its grand opening on October 1, the Dubai-based megaevent Expo 2020 has received over 2,942,388 visitors.

Expo 2020 Dubai runs until March 31, 2022, and invites the entire world to participate in a celebration of unity, opportunity, creativity, and sustainability that will help shape a better, brighter future for all.

  • alarabiya