Several Dubai-based companies, who have invested billions of dollars in many real estate and infrastructure projects in India, are keen to boost it further in one of the fastest growing economies in the world.
The Dubai companies - Emaaar, Limitless and DP World have large operations and projects in India, but are keen to enter the infrastructure projects like the airports sector.
The offer of increased investment was made during a presentation by the Dubai-based companies for India's Minister for External Affairs, Pranab Mukherjee, in Dubai on Wednesday.
The minister said this after going through a presentation on 'Dubai's growth and plans for the future and planned investments by leading Dubai companies in India' organised by the Dubai Executive Council.
DEC is a Dubai government entity that formulates and implements federal regulations and local laws and prepares annual budgets along with development plans.
The presentation was made by Mohammed Bin Gergawi, Minister of Cabinet Affairs, when Mukherjee visited Dubai Executive Council on Tuesday.
The Indian minister is on a three-day visit to the UAE, which began on Monday. Mukherjee said it is welcomed since 'they were tailor-made for India's needs'.
Indian officials told PTI that Mukherjee said the Indian government will assist the companies in all ways it can.
"The minister also said that the Indian government was investor-friendly and fully supported all private-public partnerships," the official added.
During the presentation, DP World said it would step up its investments in India from the current $2.4 billion to $15 billion in next five years. Another Dubai company, Emaar said that its investments in India totalled $1 billion and the company (its Indian joint venture partner MGF) have a total land bank of 13,000 acres.
Another property firm Limitless has a joint venture with India's DLF to develop the township of Bidadi near Bangalore with a total investment of $12 billion. The township is being built on 3,640 hectares of land and will have 750,000 residents.
The government-owned conglomerate Dubai Holding plans to invest in roads, bridges and telecommunications.
