India and the United Arab Emirates (UAE) can have a cohesive and integrated digital strategy that could mutually benefit both the nations, said Omar Bin Sultan Al Olama, UAE Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications.
“The Indian government has been a great partner to the UAE. If you think about the technology sector, there are credible opportunities for Indian entrepreneurs to leverage UAE as a global hub where the founders can come to the UAE and expand their businesses,” Al Olama said on the sidelines of GITEX GLOBAL 2022, the ongoing global technology event in Dubai.
“India has the scale, maturity in terms of market, and growth potential while UAE has the agility in government and diversity in talent,” he added.
In February this year, the UAE and India signed the Comprehensive Economic Partnership Agreement (CEPA) to foster clear and transparent rules on trade. Under the CEPA, both countries expect to boost bilateral trade from $60 billion to 100 billion within the next 5 years. “The SEPA agreement will set the tone for collaboration between the two nations,” Al Olama.
Al Olama said the UAE and Dubai believes in the power of globalisation and creating an ecosystem that allows people to thrive. He said that the country technology ecosystem has continued to grow despite the sector going through uncertainties globally.
“India can be the global factory of high-end technologies and products. I have no doubt that India can by far dominate this because of the sheer quality of talent…But what UAE can bring to the table is to diversify and push the R&D capabilities. The best Indian entrepreneurs and thinkers can meet people from around the world in Dubai to create innovation and then produce in India and export to the world,” Al Olama said.
(The Financial Express journalist was in Dubai on the invitation of DWTC)