India builds corruption-free system

(MENAFN- Khaleej Times) India, which has prioritised over $1 trillion infrastructure development as a key growth driver, is "ready to cooperate and welcome everyone to explore and invest in India," Nitin Gadkari, India's Minister for Road Transport and Highways and Shipping, said.

Calling for increased investments from the Emirates to fuel the spectacular growth story of India - which is among the top three destinations for UAE investors - the Indian minister said his country is building "a system that is transparent, time-bound, result-oriented and corruption free without which we cannot achieve our goals."

"Our government led by the directives of our Prime Minister is bringing about administrative and economic reforms. We currently have infrastructure projects worth billions of dollars being planned and implemented. We are ready to cooperate and welcome everyone to explore and invest in India, the fastest growing economy in the world," Gadkari said.

"India is a key global trade and commerce partner for the UAE with ties between the two countries going back a long way and continuing to grow significantly. Indian expatriates have successfully helped build the UAE which currently hosts the largest Indian community overseas with over 2.6 million living and working," the UAE minister said. A number of high profile dignitaries, government officials and business leaders from both countries took part at the forum, hosted by the Consulate General of India in Dubai and supported by the UAE Ministry of Economy, in strategic partnership with UAE International Investors Council, Federation of UAE Chambers of Commerce and Industry, Invest India, Abu Dhabi Global Market and Dubai Economic Council. Indian Consul General Anurag Bhushan made the opening remarks for the two-day forum.

He said India is also the largest export destination for Dubai with Indians accounting for the largest number of property buyers and tourists in the emirate. "The Council is working very hard with its counterparts in India and has forged strategic partnerships with a number of Indian institutions from both public and private sectors. We need to further enhance relationships from merely trade and cooperation to strategic partnerships and alliances, harnessing the potential of both countries - resources, labor, investors, knowledge and expertise for a better future." Calling on the Indian government to iron out any regulatory, legal or bureaucracy related issues that affect investor transparency, Jamal Al Jarwan, Secretary General, UAE International Investors Council, said the "UAE is very active when it comes to exporting capital - ranked number two after Norway when it comes to sovereign wealth investments - and India should capitalise on this."

Expressing excitement about the system changes and potential in India with nearly $70 billion of investment being invited, Dr Azad Moopen, Chairman, Aster DM Healthcare said the focus of the Indian government on infrastructure development which requires significant funding, is a huge opportunity for UAE investors.

Dr Moopen called on the UAE government to consider offering permanent residency to long-term investors and increasing foreign ownership of businesses to possibly 100 per cent.

The first day of the forum featured multiple sessions covering various industry topics including investments, infrastructure, transportation and real estate. A number of ministers, policy makers and business leaders from India and the UAE shared their views and thoughts during the forum.

Issac John Associate Business Editor of Khaleej Times, is a well-connected Indian journalist and an economic and financial commentator. He has been in the UAE's mainstream journalism for 35 years, including 23 years with Khaleej Times. A post-graduate in English and graduate in economics, he has won over two dozen awards. Acclaimed for his authentic and insightful analysis of global and regional businesses and economic trends, he is respected for his astute understanding of the local business scene. Share More > Vote var UNIQUE_ARTICLE_ID = "6255EABE-2994-4A70-B28C-DB8B6A0E15EF"; var SECTION_TAGS = "tag1, tag2, tag3"; var ARTICLE_TITLE = "India%20builds%20corruption-free%20system%0D%0A"; var GA_CODE = "UA-819330-1"; var VUUKLE_API_KEY = "841fb3e5-977f-4e2e-be39-fae608323cc5"; var TRANSLITERATE_LANGUAGE_CODE = "en"; var VUUKLE_COL_CODE = "646464"; var VUUKLE_COMMENT_COUNT = 1; VUUKLE_EMOTE_SIZE = "40px"; VUUKLE_EMOTE_IFRAME = "120px"; var VUUKLE_STORIES_TIME = 0; var ARTICLE_AUTHORS = btoa(encodeURI( '[{"name": "name one", "email":"","type": "internal"}, {"name":"name two", "email":"","type": "external"}]')); create_vuukle_platform(VUUKLE_API_KEY, UNIQUE_ARTICLE_ID, "0", SECTION_TAGS, ARTICLE_TITLE, TRANSLITERATE_LANGUAGE_CODE , "1", "", GA_CODE, VUUKLE_COL_CODE, ARTICLE_AUTHORS); function ArticleVote_GetCookie(c_name) { if (document.cookie.length>0) { c_start=document.cookie.indexOf(c_name + "="); if (c_start!=-1) { c_start=c_start + c_name.length+1; c_end=document.cookie.indexOf(";",c_start); if (c_end==-1) c_end=document.cookie.length; return unescape(document.cookie.substring(c_start,c_end)); } } return ""; } function ArticleVote() { $.ajax( { type: "POST", url: '/misc/misc/ArticleVote.pbs&guid=6255EABE-2994-4A70-B28C-DB8B6A0E15EF&write=1&d=' + (new Date()).getTime(), success: function(data) { var LData = data || "no response text"; if(LData.indexOf("voted") != -1) { $('#NCS-ArticleVoteLoad').html(LData); ArticleVoteLoad(1); } else alert("You have already voted on this article"); }, error: function(){ console.log('Something went wrong...') } }); } function ArticleVoteLoad(ALoad) { var GVotecookie = ArticleVote_GetCookie('NCSD_ARTICLEVOTE'); var GArticleVoted = 0; GArticleVoted = GVotecookie.replace(/.*?6255EABE-2994-4A70-B28C-DB8B6A0E15EF.*?$/, "1"); if (GArticleVoted == 1) { $('.DivArticleVote').html('VOTED'); $('.DivArticleVote').css("background-color","#db2425"); $('.LiArticleVote').attr('onclick','').unbind('click'); } if(ALoad == 1) $('.SpanArticleVote').load("/misc/misc/ArticleVote.pbs&nocache=1&guid=6255EABE-2994-4A70-B28C-DB8B6A0E15EF"); else $('.SpanArticleVote').load("/misc/misc/ArticleVote.pbs&guid=6255EABE-2994-4A70-B28C-DB8B6A0E15EF"); } ArticleVoteLoad(0); MORE FROM Business

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