Centre approves Bilateral Investment Treaty between India-UAE

The government said that the treaty is expected to improve investor confidence and increase foreign investments and Overseas Direct Investment (ODI) opportunities.

“The approval is expected to increase investments in India and is likely to help in realizing the goal of Atmanirbhar Bharat by encouraging domestic manufacturing, reducing import dependence, increasing exports etc, ” an official statement by the Cabinet said.

The approval for the signing and ratification of the ambitious investment treaty comes ahead of Prime Minister Narendra Modi's likely visit to the UAE this month.