DUBAI: Most investable sectors of the Indian economy are now open for 100 percent share ownership under the automatic route for businessmen and firms in the Arab region, India’s Minister of State for External Affairs Dr. Rajkumar Ranjan Singh has said.
The automatic route allows entities outside India to invest in the country without prior government approval, Emirates News Agency reported on Monday.
“India continues to open up its sectors to global investors from Arab countries and addresses their concerns on regulatory barriers,” Singh said in answer to MP Rajendra Dhedya Gavit.
Singh added: “There are several government-to-government and business-to-government mechanisms for the Middle East region such as a High-Level Task Force on Investment with UAE, a Strategic Partnership Council with Saudi Arabia, and India-Israel CEO Forum.
“India has extensive ties with Middle East countries in a wide range of sectors, including in the fields of trade and investments.”
The minister highlighted the region’s frequent high-level business engagements and the India-Arab Partnership Conference which was held in New Delhi this month.
Singh added: “Several sovereign wealth funds from the Middle East have invested in sectors such as food, energy, financial services, health, education, information technology, renewable energy and infrastructure in India.”
