India Approves Bilateral Investment Treaty with UAE to Boost Investor Confidence and Economic Growth

The Indian government, under the leadership of Prime Minister Narendra Modi, has received approval from the Union Cabinet to sign and ratify a Bilateral Investment Treaty between India and the United Arab Emirates (UAE). This treaty is anticipated to enhance investor confidence, particularly among major investors, potentially leading to an uptick in Foreign Investments and Overseas Direct Investment (ODI) opportunities. This, in turn, could have a positive impact on employment generation.

The approval is seen as a step towards increasing investments in India and aligns with the goal of Atmanirbhar Bharat (self-reliant India) by promoting domestic manufacturing, reducing import dependence, and boosting exports. This bilateral agreement reflects the commitment of both nations to strengthening economic ties and fostering a conducive environment for investments, ultimately contributing to economic growth and self-sufficiency.