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India eyes partnership with UAE to become $5trln economy

India eyes partnership with UAE to become $5trln economy
The UAE is India's third largest trade partner

UAE – Mubasher: India is depending in its partnership with the UAE to achieve its plan to be a $5 trillion economy by the fiscal year 2014/2025, Indian prime minister, Narendra Modi, told the Emirates News Agency (WAM).

The major economy is targeting $1.7 trillion investments in the next five years through the promotion of inflows from both domestic and foreign resources, Modi added.

The prime minister stated that the relations between the UAE and India are “at their best”, noted that the GCC country’s investments in India are growing in many sectors, including renewable energy, food, ports, airports, defence, and manufacturing.

"The UAE is our third largest trade partner with about $60 billion bilateral trade in FY18/19. Many of our companies are investing here in the UAE. Both countries are working closely and vigorously to implement the commitment of $75 billion investment by UAE in India,” Modi remarked.