The trade between India – UAE which estimated around USD 60 bln currently is all set to grow and hit the ambitious figure of USD 100 bln mark by the year 2020 with the growing interest by the Indian Companies towards the Middle East Markets and in particular the United Arab Emirates and efforts made by the Ministry of Commerce & Industry, Government of India and India’s leading Chamber – the Confederation of Indian Industry (CII) shall further strengthen the trade & investment ties between Indian and the UAE.
About 50 leading Indian Companies are participating at the Middle East Electricity Exhibition which has opened today in Dubai at the Dubai World Trade Centre displaying a wide variety of Electrical Products and Instruments ranging from Cables to Conductors, Capacitors, Transformers and Switchgear Products.
The Confederation of Indian Industry (CII) together with Ministry of Commerce & Industry, Government of India has arranged to showcase Indian Industry Participation at Middle East Electricity.
Hosted by the UAE Ministry of Energy and based in Dubai, Middle East Electricity is the largest international trade event for the power industry, covering the generation, transmission and distribution of electricity, the renewable and nuclear energy sectors and the lighting industry.
His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and the Minister of Finance of the UAE, officially inaugurated the 42nd edition of Middle East Electricity (MEE) in the presence of other VIP dignitaries. At the MEE, the India Pavilion was inaugurated by Mr Anurag Bhushan, Consul General of India in Dubai. After inaugurating the India Pavilion and interacting with the participants, the Consul General assured fullest support for promotion of Indian Industry & products by way opportunities in UAE in general and Dubai in particular. Mr Rahul Srivastava, Consul for Commerce & Visa also participated at the Inauguration of India Pavilion.
The Central Power Research Institute (CPRI) which is involved in Research, Testing, Consultancy and Certification is also participating at the Middle East Electricity under India Pavilion.
The various initiatives taken by the Government of India and the announcements made in the recent Budget 2017 shall certainly enhance industries competitiveness in the country and in particular the MSMEs.
The step towards reducing the corporate tax rate for small companies will have a positive impact on the viability of around 97 percent (67 lakh) businesses in India. As the MSMEs become more viable and sustainable, the overall attractiveness of the small businesses will increase leading to the positive orientation and entrepreneurship in the country is bound to grow, CII concludes.
14 February 2017