New Delhi, Feb 1 (KNN) The Union Cabinet has granted approval for the signing and ratification of a Bilateral Investment Treaty between the Government of the Republic of India and the Government of the United Arab Emirates.

The approval of this treaty is anticipated to enhance investor confidence, particularly among large investors, thereby catalysing an increase in Foreign Investments and creating new opportunities for Overseas Direct Investment (ODI). The positive impact on employment generation is also expected to follow.

This move aligns with the broader goal of boosting investments in India, contributing to the realisation of Atmanirbhar Bharat.

By encouraging domestic manufacturing, reducing import dependence, and increasing exports, the approved Bilateral Investment Treaty is poised to fortify economic ties between India and the United Arab Emirates.

(KNN Bureau)