Investment Current Affairs - 2019

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India attends the ADIPEC-Abu Dhabi International Petroleum Exhibition and Conference

Minister of Petroleum, Natural Gas and Steel Shri Dharmendra Pradhan will represent India at the ADIPEC-Abu Dhabi International Petroleum Exhibition and Conference between November 10-12, 2019.

Highlights

  • During the visit, minister will inaugurate the “India Pavilions” along with members and leader from CII, FIPI and DGH-Directorate General of Hydrocarbons. Indian Pavillion is a platform to showcase Indian Cinema in the overseas market.
  • As a part of the workshop, India will conduct a road show to attract foreign investment, especially in the field of oil and gas.
  • The Minister is to meet his UAE counterpart on the sideline of his visit and discuss issues of steel sector and hydrocarbon. The discussions are to be held under the recently developed India-UAE Strategic Partnership during PM Modi visit to UAE

Significance

  • India is to use this opportunity to find new markets of steel in the middle east countries.
  • ADIPEC is one of the most influential global conference in the field of oil and gas. More than 1,45,000 delegates from all over the worl are to attend the conference.
  • Interacting with the policy makers, investors and leaders will help India gain investment opportunities.

Uzbekistan Investment Summit modeled on Vibrant Gujarat Summit

During the Vibrant Gujarat Summit held by the Gujarat State Government in January 2019, a partnership memorandum was signed by the Uzbekistan President and the Gujarat Government. Following the summit, Uzbekistan sought India’s help for conducting similar event. India extended its support and Gujarat CM Rupani is to visit Uzbekistan to attend the summit.

Significance

  • The Gujarat CM will attend India-Uzbekistan regional investment forum
  • The summit will be of great help for Gujarat pharmaceuticals companies. Gujarat being the hub of pharmaceuticals, can very well utilize the resources of Uzbekistan

Vibrant Gujarat Summit

Vibrant Gujarat is a biennial investors summit that is held by the Government of Gujarat. The purpose of the event is to bring policy makers, investors, corporations and business leaders together. It was begun in 2003. The conventions in the event predominantly include the industrial sectors like Biotech-Pharma, Agro-Processing, Natural Gas and Oil, Mining, Tourism, etc.