69 projects identified for investment by Arab world

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69 projects identified for investment by Arab world

With the announcement of 69 projects India is aiming in a big way in furthering business relationship with the Arab countries. Besides this would provide an equal opportunity for both the countries in matters of personal growth.

CJ: Mineguruji

Thu, Apr 17, 2008 16:16:57 IST

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Indo Arab Business

INDIA HAS identified 69 projects in areas such as real estate, health-care, education, and tourism worth over US$ 150 billion for investment by Arab countries. The investment proposals will be discussed and tied-up at the India-Arab investment projects conclave, organised by FICCI, on April 18-19, 2008.

The conclave will be inaugurated by Pranab Mukherjee, union external affairs minister. CEOs of over 100 companies from 13 Arab countries are participating in the conclave.

“There is heightened interest across the Arab countries to invest in areas such as infrastructure, real estate, transportation and health-care, education IT and ITES and agro-processing in India. The conclave aims at translating investment proposals into concrete projects.” says Dr. Amit Mitra , secretary general, FICCI.

The conclave is being organised under the auspices of Indo-Arab Economic Forum (IAEF), a special initiative of FICCI for deepening the economic engagement between India and the Arab countries. It is envisioned to create a long-term economic structure with a capability to provide a major platform for exploring investment and business opportunities in projects of all dimensions namely mega, large, medium and small, in both India and the Arab countries.

Adds Dr. Mitra: “Today, both India and Arab countries have recognised the need for a diverse trade basket. Also, investors, investment agencies and businesses from India and the Arab countries seem to have realised that it is imperative for them to initiate the process in which they would be equal partners for ensuring its success.”

Senior officials from various ministries of central government and states are also expected to participate at the conclave.

Chambers of Commerce from the Arab countries would also participate in the mega event.

The major sectors, that have attracted Arab includes infrastructure (US$ 112bn), special economic zone(SEZ)s ($12bn), agro and food processing ($ 900mn), real estate ( $700mn) and oil & gas ( $ 500mn).

The conclave has already received the participation from the states of West Bengal, Tamilnadu and Rajasthan. The industry ministers of these states would be presenting the state projects and an overview of the business climate in their respective states.

Ministers and high officials from Sudan, Egypt and Saudi Arabia will be present in full strength along with majority of Arab league ambassadors in India to discuss business during the conclave.

The conclave will have a special focus on sectors such as agriculture and food processing, engineering and construction, banking, venture capital and insurance, education, IT & ITES, chemicals and petrochemicals, minerals and metals, oil and gas (upstream and downstream), infrastructure- rail, roads, airports, ports, energy, water, communication , real estate, SEZs, health-care, tourism, manufacturing and transportation , technical collaboration and expanding the scale of operations in unexplored markets in both India and in Arab countries.

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