UAE Calls for More Reforms in India

  • The much-touted MOU between India and the UAE on Sovereign Wealth Funds (SWF) failed to materialise over concerns such as complex tax policies and “cumbersome” processes for doing business in India.
  • The UAE’s Minister of State for Foreign Affairs, Anwar Gargash, told that the UAE was committed to increasing investments in India, but an agreement on India accessing UAE SWFs could not be finalised immediately.
  • “Before the agreement on SWFs can move ahead, India needs to carry out some structural changes in its economy,” Dr. Gargash said.