The return to power by Prime Minister Narendra Modi with a speedy win has buoyed global investor sentiment and is expected to increase a critical surge in cross-border investment and trade between the UAE and India, which are on track to cross $100 billion by 2020, a leading NRI investor said.
Dr Azad Moopen, founder chairman and managing director of Aster DM Healthcare, whose investment in India is around Rs20 billion, said while many UAE companies are set to expand their bases in India, investors from the subcontinent would be encouraged to boost their investments in the UAE following the introduction of liberal reforms and new visa rules, including permanent residency Golden Card and 10-year visa.
He said under Modi 2.0, sectors that are set to achieve new growth momentum in the UAE and India would be education, tourism, health and wellness, infrastructure, consumer products and foreign remittance.
Dr Moopen continued, "Access to quality and affordable care for the people of UAE has been at the core of our business operations that has led the company emerge as one of the leading integrated healthcare providers operating in the GCC. The same thinking is now being implemented by our operations in India through 12 hospitals located across five states. We have been able to build a healthcare eco-system between India and GCC encouraging cross collaboration in medical excellence."
He also stated that, Modi is expected to unveil many reforms to support NRI welfare, children's education, cheaper air travel and reforms supporting investment into the country, by aiding ease of doing business.
He further said that the Aster DM Group would continue to support cooperation between the two countries by encouraging knowledge sharing, exchange of medical talents, introduction of best practices and benchmarks in healthcare.
"Healthcare has been one of the priority sectors for the government and we think that we are rightly positioned with our expertise to support India's overall growth in the sector. India is a growth market for us and we see a huge potential for our healthcare delivery model to benefit the masses across the country. It is with this thought we listed our company in India in February 2018", said Dr Moopen.