India invited the Gulf Cooperation Council (GCC) member countries to invest in the sustainable energy sectors in the country.
Prime Minister Narendra Modi announced that India would have 500 GW of renewable energy by 2030, Joint Secretary of the Gulf region at India’s Ministry of External Affairs, Vipul, said in a statement released on Wednesday, adding that it was a good opportunity for the GCC to capitalize on it.
Addressing the representatives of the GCC countries at India pavilion EXPO2020 Dubai, he added that “Essentially, sustainability technology like renewable and hydrogen energy, electric vehicles, and health technology are the potential areas of cooperation and partnership.”
He added that by 2025, India expects to attract foreign investments of up to $120-160 billion annually, and that Gulf countries are best placed to capitalize on such opportunities given their ties with India.
“There will be a continuous strengthening of India-GCC relations and that would provide an enabling environment for businesses to succeed,” Vipul added.
VP Strategic Partnerships and Government Affairs, National Companies Promotion Program, Kingdom of Saudi Arabia, Nasser al-Aqil said that India and Saudi Arabia are on a growth path and the business relationships are continuously improving with the changing dynamic world.
He said, We look forward to the strengthening of India-Saudi ties.