New Delhi : The Comprehensive Economic Partnership Agreement (CEPA) signed recently between India and the UAE is all set to boost the bilateral trades. The game changer pact will further cement the age-old bond between the two countries.

This agreement is expected to take UAE-India trade relations to new heights where both the countries can explore new opportunities based on their individual strengths and shared vision. At the core of the bilateral relationship between India and the UAE lie a large number of Non-Resident Indian (NRI) entrepreneurs and highly-skilled professionals.

Mr. Rizwan Sajan, Founder and Chairman of Danube Group said, “As an NRI investor in the UAE and India, I see a huge opportunity in various sectors and we are more than ready to fill the gap and tap into these opportunities – be it in real estate, construction, energy, infrastructure, healthcare or retail sectors. Many of us – NRI entrepreneurs who made it big in the UAE – would now like to expand into the growing Indian market and help our economy by investing and creating jobs.”

“We expect to play a bigger role in the UAE-India partnership – as we are well-positioned to leverage our resources to help strengthen the economies of India and the UAE – in a bigger way,” he added.

Mr. Sajan opines that both the nations should focus on the production/ manufacturing/real estate industry in India, and rework on the reforms in these sectors, which will greatly assist in the growth of the affordable housing sector, logistics and growth in the APEC region.

 “If we can expand business in Asian and African markets, why can’t we do it in our own country? So, I would like to see that the CEPA opens up windows for us – create some more room for NRI investors in the focus economic sectors. We are ready for India and I hope CEPA will create the necessary avenues for us to contribute to the Indian economy,” said Mr. Sajan

According to Mr. Sajan, reduction of tariffs and concessions is another focal point which should be considered by both the parties alike. The UAE is a global hub and has the capacity to be a great re-export market for India.

Considering that UAE heavily depends on tourism as it no longer is an oil dependent economy, strengthening ties here and focusing on tourism and hospitality industries, thereby leveraging the strength of both the markets and their respective offerings should be on the cards. Lastly, bolstering the position of both the nations as global hubs for talent especially digital natives will bring growth prosperity and further strengthen ties between the nations.