The Union Cabinet on February 1 approved an investment treaty with the United Arab Emirates (U.A.E.) that is likely to significantly boost bilateral economic engagement in a range of areas, including manufacturing and foreign direct investment (FDI).
The Union Government also approved the signing and ratification of a Bilateral Investment Treaty (BIT) between India and the United Arab Emirates (U.A.E.).
The treaty is expected to improve the confidence of investors, especially large investors, resulting in an increase in foreign investments and overseas direct investment opportunities, the government said.
