UAE looks at expansion in Punjab, content with ‘real’ ease of business

S.A.S.Nagar, December 6: The ease of doing business in Punjab is real and not just on paper. This was stated by leading businessmen, the UAE Ambassador and the UAE commercial Attache to India (Minister Plenipotentiary) during a panel discussion here as part of the Progressive Punjab Investors Summit on Friday.

They said that the trading links between India and UAE existed since long, and UAE was the third largest business partner of India, with Punjab having the most obvious hunger to attract investment.

Speaking on the occasion, UAE commercial Attache to India (Minister Plenipotentiary), Ahmad Sultan Al Falahi talked about the transformation in the industrial policies in Punjab. He said that the growing Indo-UAE economic and commercial relations contribute valuable stability and strength to bilateral relationship between the two countries.

During the key note session, Dr. Ahmed ALBanna, UAE Ambassador to India, talked about the Indo-UAE relationships and the scope of employment and doing business in UAE.

B.S. Kohli, Advisor of Punjab Bureau of Investment and Promotion, was moderator during the panel discussion. He said that UAE enjoys a broad and comprehensive economic relationship with India, based on mutual interest. UAE is one of the major export destinations for Punjab. It is the top importer of Textiles and Textile articles from Punjab also a significant importer of food products from the state, he said.

Former Indian Ambassador to UAE, Navdeep Suri said that collaborations with UAE are of supreme importance for Punjab, as UAE looks for food security and Punjab has the potential to be a leading contributor to it.

Ravneet Gill, Business Head, Emaar India, said that Emaar, a real estate company of UAE, has already setup a major township in Punjab. It is now looking for opportunities in the Food Processing sector in state.

Sharafuddin Sharaf, Vice Chairman of Sharaf Group, said that his company is establishing a Multi Modal logistics hub in Ludhiana and he is also looking forward to investing more in the state. His company offers freight forwarding, container handling, logistics and warehousing services.