'Foreign Direct Investment in last 7 years has broken all records': Union Minister Piyush Goyal on Free Trade Agreements with UAE

Union Minister of Commerce and Industry Minister Piyush Goyal on Sunday said that more than 1.6 million people have visited India's pavilion at Dubai Expo 2020, this shows how much attraction there is towards India.

Speaking about the Free Trade Agreements (FTA) with Dubai, Goyal said that Foreign Direct Investment (FDI) in the last seven years has broken all records. He further said that Kashmir has become an attraction for investors in India and abroad after the abrogation of Article 370 and that it became evident when a high-level delegation from UAE visited Jammu and Kashmir recently, news agency ANI reported.

In a significant development aimed at bolstering business opportunities in Jammu & Kashmir, a 36-member high-level business delegation from the United Arab Emirates (UAE) visited Srinagar earlier this week.

"There is a big opportunity to invest in Jammu and Kashmir for the visiting delegation," the CEO of Emirates International Investment Group, Abdulla Mohammad Yousuf Abdulla Alshaibani, had said during the visit.

Emphasizing India's relations with the GCC, Goyal said, "Gulf Cooperation Council (GCC) reached out to us, we've already started the scoping exercise of deciding the type of framework of FTA with GCC."

"I'm hopeful we'll launch negotiations and come up with fair and balanced FTA to provide more job and growth opportunities," added the minister.

Goyal considered the landmark collaboration as a milestone achievement as it will bring investments from other countries across the globe. He also added that different entities from Dubai had also shown keen interest in making investments.

(with ANI inputs)