Expecting larger pools of capital coming into India from UAE via FDI and FII: Piyush Goyal

Union Minister Piyush Goyal on Friday said that the Centre is expecting large pools of capital coming into India via FDI and FII from UAE.

"My sense is we can look at a larger investment flow from the UAE given where Indian economy is, we will look at much larger pools of capital coming into India both FDI and FII," he said.

He said that UAE has emerged as a hub for activity for businesses across the world and New Delhi would like to leverage on this.

"Businesses across the world sees UAE as a hub of activities for Africa, middle East, central Europe. India would like to leverage on that hub that UAE has been successful in creating," he said.

"Businesses on both sides have used the FTA between India and UAE to their advantage allowing us to reset our ambitions to a higher level and look at a non-oil and non-precious metal bilateral trade of $100 billion in the next 3-4 years," he added.

Goyal further said tha UAE's large capital and India's skilled talent will be beneficial for both countries.

"There are many third country requirements where large pools of capital can be deployed, Indian capital and skilled workers can play a role and it can become a win-win for the third country, for UAE as a provider of large capital and India as a provider of skill and talent. We are trying to encourage private sectors of both countries to work in that direction," he said.