India has “significant potential” to reduce UAE healthcare costs with competitively priced drugs, and also improve the supply of paramedics and doctors, Union Minister Piyush Goyal said – who is visiting the United Arab Emirates.
“India can add value to the UAE health system. India has over the years developed extremely competitively priced drugs that can serve the people, ”Goyal said.
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As many people from UAE also come to India for medical treatment, he said, adding that the South Asian country will not only be able to provide facilities and improve medicine, but also to provide more technical staff, paramedics and doctors to the UAE.
“We will also be able to provide world-class and quality health facilities to UAE nationals and visitors who come to India for any medical assistance,” the minister said during a press briefing at the consulate. Indian in Dubai on Saturday.
Indian medicines are among the cheapest in the world. And according to Medbelle, a London-based digital healthcare provider, it is among the five cheapest countries in the world for drugs, with prices 73.82% lower than the global median.
At the height of the pandemic in April 2020, India sent bulk supplies of hydroxychloroquine to the United Arab Emirates and other affected countries such as the United States, Spain and the United Kingdom, the Jordan and Saudi Arabia to name a few.
Indian doctors and nurses also form a large part of the UAE’s healthcare sector and have been praised by the UAE government for their crucial role in tackling the Covid-19 pandemic.
The Minister in charge of Trade and Industry, Consumer and Food and Public Distribution of Textiles in India, also explained how India and the United Arab Emirates have “enormous potential” for trade and commerce. mutual investment.
The two countries have started formal negotiations for a comprehensive economic development agreement to jointly exploit global opportunities, and the UAE has said it wants to be part of the 1,000 export target. billion dollars from India.
India is the UAE’s third largest trading partner with $ 60 billion, after China and the United States. The United Arab Emirates is India’s second largest export destination (after the United States) with a value of nearly $ 29 billion for the year 2019-2020.
For the UAE, India is the second largest trading partner for 2019 with an amount of around $ 41.43 billion (non-oil trade), according to figures released by Indian missions in the country.
UAE businessmen keen to invest in India
Goyal said the response he received from UAE businessmen he met on his current trip was “really fabulous.”
“The excitement I see and the potential shown by all interested parties – the people who import goods and services from India to the business people I met at the inaugural event (from the Indian pavilion to Expo 2020) and at dinner last night… everyone seems to love India, ”Goyal said.
He said businessmen have shown considerable interest in investing in gems and jewelry, agribusiness industry and infrastructure development projects in India.
“They are very keen to review the asset monetization program. They are extremely keen to partner with India to promote tourism. I think we need to do a lot more work at home in India, to encourage Indian companies to engage with UAE business people. “
With the UAE pledging to invest $ 75 billion from its sovereign wealth funds, in addition to other trade initiatives, the minister said India was on track to meet its export targets.
“Investing is a big area where you can expect to work together in a big way. Over the years, the UAE has developed capabilities in sectors where low cost energy can help India develop quality products at very attractive prices. And so, I believe it’s a natural partnership that should benefit both countries; provide opportunities for people from both countries; offer enormous employment opportunities, especially in labor-intensive sectors such as textiles, footwear, food processing.
The minister said that the UAE and India are also teaming up to tackle the challenges of climate change and manufacture equipment for solar batteries.
Naming the Indian sectors that can contribute and complement the economic growth of the UAE, Goyal said that Indian leather accessories, footwear, pharmaceuticals and healthcare have huge potential, as well as the technology sector like provision of computer software and services.
India to bid for Expo “at the appropriate time”
India will consider hosting the Expo, Union Minister Piyush Goyal said, adding that it will be high on his agenda upon his return.
“Certainly we would like to see an Expo of this size and scope, and even bigger, in the future in India. And I suggest, upon my return, that it will be at the top of my agenda, so that we can defend it at the appropriate time, ”the minister told the media on Saturday.
Goyal inaugurated the India pavilion worth 257 million dirhams on Friday, during the six-month Expo 2020 Dubai public opening.