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बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
India-UAE High Level Joint Task Force on Investments
Mar 04, 2014

The second meeting of India-UAE High Level Joint Task Force on Investments (HLTFI) was held on 3 February in Mumbai. The HLTFI was established in April 2012 as a platform to address mutual issues associated with existing investments between the two countries and to promote and facilitate cross-border investments. More than 30 government and private sector representatives from India and the UAE were present in the meeting.

The second meeting of the HLTFI made progress on a number of fronts:
 

  • Discussions were held on supporting the establishment of a strategic petroleum reserve in India in a manner serving the common strategic interests of both countries and based on the principles of long term strategic partnership and cooperation. The decision was taken to establish another joint working group to make progress on this effort.
  • Wide-ranging discussions took place on priority sectors of engagement for channelling investments in the two countries.
  • Discussions took place on expediting the resolution of current pending issues associated with existing UAE investments in India, and a plan of action was agreed for the Legacy Issues sub-working group to address and resolve these issues.
  • Acknowledged TAQA, the Abu Dhabi-based international energy and water company, as the largest private operator of hydroelectric plants in India, following its acquisition, signed on 1st March, 2014 in New Delhi, of two hydroelectric plants in India. The equity invested by the TAQA-led consortium in the acquisition of the two hydroelectric plants will amount to approximately INR 3,820 crores ($616 million), of which 51% is from TAQA. The consortium will also acquire the assets non-recourse project debt. The agreement follows the signing of the UAE-India Bilateral Investment Promotion and Protection Agreement in December 2013 and the UAE’s commitment at the last HLTFI meeting to invest $2 billion in India’s infrastructure sector.
  • The UAE has invited the Indian companies in the renewable energy area to the UAE to meet and discuss with potential investments. 

The UAE and India are significant trading partners and bilateral trade between the two countries is expected to continue its important growth in years to come. Alongside trade, the HLTFI would seek to achieve a similar growth path for investment with a clear roadmap between the two countries.

 


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