UAE-India Business Council and Rajasthan Government sign landmark MoU

UAE-India Business Council and Rajasthan Government Sign Strategic MoU to Boost Investment

September 20, 2024
Dubai, United Arab Emirates: In a transformative move for international investment and economic cooperation, the UAE-India Business Council – UAE Chapter (UIBC-UC) and Rajasthan’s Department of Industries and Commerce (DoIC) have officially signed a Memorandum of Understanding. (MoU)

Aimed at promoting investment and business cooperation in the Indian state, this strategic MoU was signed on 17 September 2024 during the visit of the Rajasthan Government delegation to Dubai, headed by the Hon’ble Minister of Industry and Commerce, Colonel Rajyavardhan Rathore.

Hon’ble Chief Minister’s Joint Secretary Mr. Siddharth Chihag, I.A.S. and Additional Commissioner of Investment Promotion Bureau Mr. Saurabh Swamy, IAS, Rajasthan State FICCI Director Mr. Atul Sharma and senior officials were also present. The team visited Dubai to promote the upcoming Rising Rajasthan Global Investment Summit 2024 scheduled for December 9-11, 2024 in Jaipur, Rajasthan, by the Council.

The Rising Rajasthan Summit is an important platform for attracting global investments in sectors as diverse as agriculture and food processing, auto components, chemicals and petrochemicals, and education and skill development.

The MoU was signed when the delegation met members of UIBC-UC at a closed-door roundtable, which included H.E. Satish Sivan, Consul General of India to Dubai and Northern Emirates.

Chairman of UIBC-UC and KEF Holdings Mr. Faisal Kottikollan presided over, Mr. Rizwan Sumer, Chief Executive Officer and Managing Director – Middle East, North Africa & India Subcontinent and UIBC-UC Co in presence of key members. – chair; Mr. Adeeb Ahmed, Managing Director of Lulu Financial Holdings and UIBC-UC Board Member; Mr. Shyam Kapoor, Group Chairman & CEO, Sharaf Group; Mr. Pankaj Khandelwal, CFO – UAE & EFS Facilities Services India; and Mr. Kshitij Korde, Head of Corporate Affairs, UIBC-UC.

This distinguished gathering of leaders engaged in strategic discussions with the Hon’ble Minister, focusing on enhancing cooperation and opening up new investment opportunities between the UAE and Rajasthan. To ensure effective implementation, a Joint Working Group (JWG) will be established with representatives from both parties, each designated as primary contact points for streamlined communication and coordination.

“This MoU is an important step in enhancing economic ties and uncovering new joint opportunities in key sectors including capacity building, logistics, tourism, health, renewable energy, infrastructure, manufacturing, technology and research. By synchronizing the signing with the Dubai visit, the Rajasthan government is underlining its commitment to attracting global investors and showcasing the state’s dynamic business environment. The establishment of the Joint Working Group further ensures the effective implementation of this ambitious agreement, paving the way for a dynamic and mutually beneficial future,” said Mr. Faisal Kottikollan.

The MoU outlines the key objectives of promoting Rajasthan’s investment potential for UAE-based businesses, supporting joint events and workshops and facilitating the exchange of key market intelligence. By creating strong networking opportunities, the agreement seeks to connect UAE investors with Rajasthan-based companies and government agencies.

The MoU also sets out specific areas of cooperation, including regular sharing of information on investment opportunities, policies and programs in Rajasthan. It mandates a joint organization of seminars and business forums to monitor the state’s investment landscape and provide support services such as regulatory assistance and site visits to UAE investors.

During the official visit to Dubai, a special invitation was extended to UIBC-UC by the Government of Rajasthan for the Rising Rajasthan Global Investment Summit 2024.