India has opened most of the sectors for 100% ownership under the automatic route for businessmen and firms in the Arab world, Emirates News Agency (WAM) reported).
The announcement to this effect was made by the Indian minister of state for external affairs Dr Rajkumar Ranjan Singh on Monday, July 31. The statement came after member of parliament Rajendra Dhedya Gavit asked Ranjan Singh whether the government had intensified efforts to invite business leaders from Arab countries to invest in India.
While responding to MP, Ranjan Singh said, “India continues to open up its sectors to global investors from Arab countries and addresses their concerns on regulatory barriers.”
“There are several government-to-government and business-to-government mechanisms for the Middle East region such as a High-Level Task Force on Investment with UAE, a Strategic Partnership Council with Saudi Arabia, and India-Israel CEO Forum. India has good diplomatic relationships with Middle East countries including in the fields of trade and investments,” Singh added.
Rajkumar Ranjan Singh further highlighted the India-Arab Partnership Conference, which was held in New Delhi this month.