FortyGuard is honored to have been invited as part of the UAE economic delegation to India, led by H.E. Abdulla bin Touq Al Marri, Minister of Economy, and H.E. Alia Bint Abdulla Al Mazrouei, Minister of State for Entrepreneurship. The delegation's visit took place from July 23 to 25 with an aim to explore and strengthen cooperation in sectors such as the new economy, tourism, entrepreneurship, SMEs, AI-driven solutions, transport, and fintech.
Strengthening Bilateral Relations: During the visit, H.E. Bin Touq held bilateral meetings with key Indian officials, including Shri M.K. Stalin, Chief Minister of Tamil Nadu, and Dr. T.R.B. Rajaa, Minister for Industry, Investment Promotion, and Commerce in the Government of Tamil Nadu. The meetings focused on enhancing cooperation across various sectors of mutual interest, with an emphasis on sustainable economic development. Moreover, H.E. Bin Touq conveyed the regards of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, and highlighted the growing strategic economic, political, and cultural relations between the UAE and India as a positive sign of collaboration between the two countries.
Highlights of the Delegation's Visit: H.E. Bin Touq and H.E. Al Mazrouei primarily discussed flexible economic policies and legislations aimed at enhancing dialogue between the UAE and Indian business communities. They encouraged the establishment of new projects in various economic fields and invited Indian investors to leverage the UAE's business environment, logistics capabilities, and economic facilities. Two key aspects of discussion were the UAE’s vision of becoming the best tourism identity in the world and increasing the presence of cross-national SMEs in both the counties. Currently, the UAE’s Foreign Direct Investment (FDI) in India covers several vital sectors, including renewable energy, software, IT services, and automotive manufacturing which is set to grow. The non-oil trade exchange between the two countries also continues to grow, with the total value exceeding USD 53.5 billion in 2023, marking a growth rate of 3.9 percent compared to 2022.
Investopia Global Talks in Chennai: A significant highlight of the visit was the Investopia Global Talks session held in the city of Chennai in Tamil Nadu district of India. Organized in cooperation with the Government of Tamil Nadu and the Confederation of Indian Industry (CII), the event aimed to strengthen the economic partnership between the UAE and India in new and sustainable economic sectors. This was welcomed with great interest from both nations since the session was attended by more than 300 participants, including investors, entrepreneurs, economists, and representatives from leading UAE and Indian private sector companies.
H.E. Bin Touq emphasized Investopia’s role in promoting investment and expansion in new and sustainable economic sectors. He highlighted the UAE’s efforts to transition to a new economic model based on knowledge and innovation, which aligns well with India’s vision of embracing a sustainable economic model. Therefore, this alignment certainly underscores the potential for productive economic partnerships between the two countries.
FortyGuard's Role and Impact: As a leading UAE-grown startup, FortyGuard was proud to represent the UAE across fronts such as AI, sustainability solutions, and innovative software. Our participation in the delegation and the Investopia Global Talks was particularly significant given the increasing opportunities for climate tech and AI-driven solutions in India. The Indian market is rapidly growing and moving in the right direction for launching innovative climate solutions which made this visit highly beneficial for FortyGuard in terms of expanding its business and global footprint.
In addition to gauging the Indian market, the visit allowed FortyGuard to engage with key stakeholders in India’s economic and technological sectors. Discussions were focused on how FortyGuard’s AI-driven temperature insights can support sustainable urban development, optimize logistics, and enhance the overall quality of life in Indian cities. The interest and enthusiasm from Indian officials and business leaders reaffirmed the strategic alignment between FortyGuard’s innovative solutions and India’s vision for sustainable economic growth.
This deep interest further led the way to facilitate connections with potential partners and investors in India. FortyGuard explored collaborative opportunities with Indian companies specializing in smart city solutions, renewable energy, and advanced manufacturing. The robust dialogue on sustainable investments and innovative technologies highlighted the complementary strengths of the UAE and Indian markets, paving the way for future collaborations.
Looking Ahead: The UAE economic delegation's visit to India has opened new avenues for collaboration and investment in sustainable economic development. For FortyGuard, the visit was an invaluable opportunity to explore the Indian market, establish strategic partnerships, and discuss innovative solutions in climate tech. India's focus on sectors like Artificial Intelligence, sustainability, and software aligns perfectly with FortyGuard’s expertise and vision.
The UAE and India are among the fastest-growing economies, and this visit has strengthened the foundation for future cooperation in various innovative and sustainable sectors. FortyGuard looks forward to contributing to and benefiting from this robust economic partnership, enhancing urban climate solutions and promoting sustainability in both countries for years to come.