Abu Dhabi: LuLu group chairman and MD Yusuff Ali MA said that India under the "dynamic leadership" of Prime Minister Narendra Modi is considered as an emerging power and one of the strongest economies in the world.

At the meeting with top business leaders from India and UAE hosted by Abu Dhabi Chamber, Yusuff Ali MA said that the common focus of UAE and India is peace, stability and economic progress. He said that 3.54 million Indians form an integral part of development of UAE's economy.

"Today, the common focus of both UAE and India is peace, stability, and economic progress.

UAE under the visionary leadership of His Highness Sheikh Mohamed Bin Zayed Al Nahyan is a dynamic and one of the most advanced nations in the world. On other hand, India under the dynamic leadership of Shri Narendra Modi Ji is considered as an emerging power and one of the strongest economies in the world," Yusuff Ali MA said.

"More than 3.54 million Indians form an integral part of growth and development of UAE's economy and society. Indians are also earning their present better with that most dignity and respect here," he added.

He said that India and UAE will continue to move forward with greater cooperation. He called Abu Dhabi a safe and secure place to work and live and an incubator for talents, innovators and entrepreneurs.

"There are no limits of relationship between both our countries as rightly our minister mentioned. So, we would continue to move forward with greater cooperation. Today UAE, Abu Dhabi, particularly has become a key economic hub and the preferred go to destination due to its advanced world class architecture and huge investment opportunities in key sectors, including energy, IT, logistics, food medicine, tourism, and....," he said.

Heaping praise on PM Modi for his leadership, he said that India has liberalized a lot of policies, especially the investment policy for non-resident Indians.

"In India, under the dynamic leadership of the Prime Minister. they liberalized a lot of policies, especially the investment policy for non resident Indians. We had non resident Indians had a lot of problems in Western India. But under the dynamic leadership of our prime minister Narendra Modi Ji. They liberalised and now NRI investment is treated as domestic investment. This is a great opportunity for non-resident Indians back home to invest in India," Yusuff Ali MA said in his address.

Meanwhile, Union Minister of Commerce and Industry Piyush Goyal on Thursday said that India and United Arab Emirates (UAE) are aiming to expand the bilateral trade to make it USD 100 billion.

"Basic foundation on which I believe we are looking to expand the trade between our two countries, significantly, at least to make it USD 100 billion, very quickly, said Goyal at the meeting with top business leaders from India and UAE hosted by Abu Dhabi Chamber.

In UAE, Goyal co-chaired the 11th Meeting of the India-UAE High-Level Joint Task Force to boost investments between the two countries, which saw the signing of several MoUs in different sectors.

"I'm very convinced that the incredible love and affection that the people of India and the people of the UAE have for each other, the immense contribution that businesses are making to further strengthen this geopolitical strategic partnership is going to truly make this that defining partnership and brotherhood..." Goyal said.

"Clearly, India is a vibrant nation, on the move to become an economic powerhouse. Today the fifth largest economy in the world...It was only nine years ago, that we were a fragile five economy, amongst the weakest five economies in the world. Today as I stand before you, we are amongst the top five economies, the fifth largest GDP. In the next four years, we expect to become the world's third largest GDP," he added.