- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:32 05:49 12:21 15:48 18:47 20:04
Indians have invested Dh50 billion in the UAE real estate sector, says Paras Shahdadpuri, President of Indian Business and Professional Council. (Supplied)
Indians have invested over Dh250 billion in the UAE, which includes investment in the country’s booming real estate market, according to a senior executive of a UAE-based Indian trade association.
“Our estimate is that Indians have invested over Dh200 billion in the UAE, with another Dh50 billion in the real estate sector,” Paras Shahdadpuri, President, Indian Business and Professional Council said on Sunday at an event organised to launch the second edition of Royal India Luxury Show in Dubai.
“Indians own 40,000 to 50,000 companies in the UAE and employ nearly one million people,” Shahdadpuri told Emirates 24l7.
Boost to tourism
Lauding the move of the Indian government to give UAE nationals tourist visa on arrival (e-visa), IRV Rao, Assistant Director, India Tourism, said the new visa facility will certainly double the number of UAE nationals coming to India in 2015.
“In 2013, nearly 53,000 UAE nationals visited India, up 24 per cent compared to 2012. We are now expecting the number to double in 2015, mostly facilitated by introduction of the e-visa.”
The country was previously offering visas-on-arrival to visitors from only 12 countries, but it has now included 43 countries including Oman and Palestine.
India received only 6.58 million tourists in 2012, which was far lesser than Asian countries such as Thailand and Malaysia.
UAE nationals were interested in visiting and spending time in Indian palaces, or travel on luxury tourist trains, spending nearly Dh100,000 during the trip, Rao told Emirates 24l7.
India has a close and multifaceted comprehensive partnership with UAE with bilateral trade amounted to US$59 billion in 2013-14, a statement issued by India’s Ministry of External Affairs said.
The two-day luxury show, starting on December 4 at Jumeirah Beach Hotel, has been organized by Globuzz, a Dubai-based consultant. The show will have participation from 20 companies, from the field of fashion to developers of luxury real estate projects.
Follow Emirates 24|7 on Google News.