Emaar Properties Group CEO Amit Jain on Friday said he discussed a number of projects in Indian states with Commerce and Industry Minister Piyush Goyal and there could be some announcements by the company at the Vibrant Gujarat Summit next year. The Tenth Vibrant Gujarat Global Summit 2024 is in January next year in Gujarat.
Goyal, who is in the UAE on a two-day visit, held a series of meetings with businesses and senior leaders on ways to further promote bilateral trade and investments between the two countries.
"We are looking at a number of areas where we can expand in the number of sectors relating to real estate... As Vibrant Gujarat also comes, there could be announcements there," Jain told reporters here after a bilateral meeting with the Indian minister.
He said India is a big investment destination for Emaar and they wish to continue to make future investments in India. "We talked about our investments already... what Emmar can do in India, we talked about Vibrant Gujarat... He talked about potential investment in Sabarmati river (front) and Kevadia (in Gujarat). I think these are very exciting projects," he said.
Without disclosing any specific projects in India, he said Emaar is the largest real estate investor in India, and "we want our investment to be successful". "There are a number of projects that I and the minister have talked about, including in northern India, other states, and we are just working on that so that we can make something pretty remarkable in India," he added.
The minister also held a meeting with Sharafuddin Sharaf, Vice-Chairman of Sharaf Group, which is in the logistics business. Sharaf said they have a couple of inland ports in India and are planning to extend these ports at 10 more locations.
On investments, he said, "We have already invested USD 400 million dollar and with the new expansion is another USD 250 million of investments in infrastructure."
On India as a preferred investment destination, Sharaf said the UAE investor looks at India as priority for business expansion. India has a very promising business environment, he added.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
