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India-UAE will increase cooperation, Sitharaman urges UAE to invest in Rs 111 lakh crore NIP

The India Print 2020-08-18 16:12:11

New Delhi. Finance Minister Nirmala SitharamanOn Monday urged the United Arab Emirates (UAE) to invest in India's important Rs 111 lakh crore national infrastructure pipeline projects. . Under the National Infrastructure Pipeline (NIP), 7,000 projects from various sectors have been identified in the country with an estimated investment of Rs 111 lakh crore during 2020 to 2025. The Finance Ministry issued several tweets one after the other and informed about this meeting. The ministry said, Finance Minister Nirmala Sitharaman held a bilateral meeting with UAE Minister of State for Finance Obed Al Tayer through a video conference today, during which the two leaders expressed respect for the long-standing relationship between India and the UAE. Both stressed the need to take this relationship forward with bilateral advantages. '' 

Another tweet said that during the meeting, the two leaders agreed on cooperation in areas such as financial technology (fintech). During this time, the Finance Minister said that there are better opportunities for investment in the infrastructure sector for India and UAE with NIP. Both the leaders agreed to cooperate especially in the field of fintech like UPI and RuPay Card. The tweet said that the two leaders also agreed to work together on the interests of India and the UAE at various international forums such as the G20 and the International Telecommunications Union (ITU). Prime Minister Narendra Modi while addressing the nation on the occasion of 74th Independence Day said that the main thrust of the economy will be on the implementation of national infrastructure pipeline projects worth more than Rs 110 lakh crore. He said that, "Around 7 in different regions, 000 projects have been identified. This will be a revolution in the infrastructure sector. He said that the time for working in the area of ​​basic amenities within his own realm has now ended. Modi also said that the national infrastructure project pipeline will play an important role in getting the country out of the influence of Kovid-19.