UAE Minister: Andhra Pradesh Key to India-UAE Economic Corridor

Speedy Summary:

• UAE Minister for Economy & Tourism, Abdulla Bin Touq al Marri, highlighted the trust and openness in UAE-India relations during times of global volatility.
• Speaking at an investor meet in Vijayawada organized by Investopia, CII, and Andhra Pradesh Economic Development Board, he expressed confidence in a resilient future through collaboration.
• As the signing of the 2021 Thorough Economic Partnership agreement (CEPA), bilateral trade has rapidly advanced; India became UAES third-largest trading partner.
• Non-oil trade between the countries is projected to exceed $100 billion by 2030. Non-oil exports to India account for 13.5% of UAE’s total exports.
• Abdulla Al Marri praised Andhra Pradesh’s infrastructure, natural resources like rivers and its coastline, and human capital as a strategic advantage for investments under the India-UAE economic corridor.
• Andhra Pradesh Minister nara Lokesh introduced ideas like ‘data embassies’ at data centers to bolster economic growth and positioned Visakhapatnam as India’s “data city.”
• Mr. Lokesh asserted that though recent years set progress back in A.P., efforts are accelerating now to lead India’s data revolution.

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Indian Opinion Analysis:

The UAE’s emphasis on long-term collaboration amidst global volatility underscores steady trust between India and Gulf nations. The CEPA agreement not only impacts bilateral trade but also positions both countries for mutual resilience against shifting global economic conditions. The forecasted expansion of non-oil trade reflects diversification in their partnership beyond traditional energy sectors.

For Andhra Pradesh specifically, hosting such dialogues signifies emerging ambition within india’s states to attract foreign investments-potentially unlocking pathways to international ventures from regions often overshadowed nationally. Nara Lokesh’s focus on positioning Visakhapatnam as a data hub aligns with national drives towards digital economy readiness but requires enduring infrastructure-a noted challenge given recent setbacks mentioned by him.

Strategically integrating resources like A.P.’s coastline into India’s global connectivity plans could strengthen its role within broader corridors such as those connecting South Asia with west Asia. Success hinges on cohesive policy frameworks across state and central levels while balancing foreign investment facilitation with domestic development priorities.