Dubai Expo 2020: India assures reforms as UAE Inc says ready to invest in country
Union Commerce Minister Piyush Goyal, who was in the United Arab Emirates to inaugurate the India pavilion at the Dubai Expo 2020, was upbeat about the "phenomenal enthusiasm" shown by potential investors. His statement was supported by top UAE businessmen, who told India Today about their plans to increase investment in India.
Before wrapping up his visit on Tuesday, Piyush Goyal said, ”The visit went way past resolving problems.”
"During the meetings with representatives of UAE govt, business heads and investors, we found phenomenal enthusiasm to invest in India. In fact, it was felt that we may not be able to match up with the speed they come up with ideas,” he added.
Piyush Goyal said that the UAE companies that had “problems” in the past were ready to return to India. "In the India-UAE High-Level Joint Task Force, investment-specific legacy issues will be looked at. I am more concerned about what they had to go through then. They feel that in a couple of cases, they fell wrong with the promoters and in other cases, due diligence should have been there. That’s the cost of learning.”