Union Cabinet approves bilateral investment treaty with UAE

The Union Cabinet on Thursday approved an investment treaty with the United Arab Emirates (UAE) that is likely to significantly boost bilateral economic engagement in a range of areas, including manufacturing and foreign direct investment (FDI).

The approval for the signing and ratification of the



ambitious investment treaty comes ahead of Prime Minister Narendra Modi’s likely visit to the UAE this month.

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.