The Sharaf Group is increasing its investments in India's logistics parks, infrastructure and food sectors as the country becomes more business-friendly for foreign investors, said a senior executive.
Speaking on the sidelines of the UAE-India Economic Forum on Wednesday, Salah Sharaf, executive director, Sharaf Group, said the group has been involved in India's railway and logistics parks business for years and would increase investment in the coming years.
"Infrastructure and logistics will be the key focus areas in India. With India and the UAE's agreement on food security, this is also one of the key areas that we will focus on," he said.
"We have presence in five logistics parks in India and plan to add 10 more cities. Our focus is infrastructure because India lags in this segment," Sharaf said.
The UAE-based company has created infrastructure and facilities in the UAE, India, China, Tanzania, South Africa, Saudi Arabia, Pakistan and Egypt. It also recently signed a memorandum of agreement with India to take part in the World Food India exhibition. India's Minister of State for Food Processing Industries Niranjan Jyoti recently said dozens of UAE firms have shown interest to take part in the exhibition.
"UAE-India ties are becoming stronger after the visit of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to India. Last week, we were in India and what I have seen is a 180-degree change in the way the Indian leadership and government is dealing with foreign organisations and investors. Around 10 years ago, there was a lot of bureaucracy but now the red tape has been removed and they are inviting companies to come and invest in their country," Sharaf added.
Sharafuddin Sharaf, vice-chairman, Sharaf Group, said Indian states are aggressively competing to attract foreign investments.
"You start to realise how much emphasis the states put on growth and development. I met eight ministers and chief ministers in just one day to exchange possibilities in various sectors. We are optimistic for further investments in India," he added.
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