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India and UAE to raise $75 billion infrastructure fund; UAE to ally with India against terrorism

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Photo: India Today
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By NewsGram Staff-Writer

Abu Dhabi: In order to tap into the huge potential of the infrastructure sector in India, India and UAE have decided to set up an infrastructure fund and raise up to $75 billion.

Photo Credit: NDTV
Photo Credit: NDTV

The fund would be used to invest in India’s expansion projects in infrastructure sector especially in railways, ports, roads, airports, industrial corridors and parks.

Prime Minister Narendra Modi on Monday had offered $1 trillion investment opportunity and had strongly urged the UAE’s businessmen to invest in India.

Modi had addressed a round-table conference of businessmen at Masdar and had appealed to them to invest saying, India now has a decisive government and several sectors like defense, railways, insurance etc. have been opened for foreign investments.

India and UAE have decided to promote strategic partnership in energy sector and also assist involvement of Indian companies in infrastructure projects in UAE. India has also decided to partner with UAE in developing petroleum reserves and to promote and expand trade in respective regions.

India would assist UAE to create an industrial base by letting UAE tap into its expertise in small and medium enterprises.

On the educational and scientific front, both the countries have decided to have collaboration between their educational institutions and further encourage scientific collaboration in areas such as renewable energy, desert ecology, healthcare etc.

In a significant move, Prime Minister Narendra Modi and Crown Prince Sheikh Mohamed bin Zayed AI Nahyan agreed to join hands against terrorism, radicalism and organized crime. With this, UAE has decided to align with India in its fight against terrorism, moving away from its traditional ally- Pakistan.

The joint statement released said: “oppose terrorism in all forms and manifestations … calling on all states to reject and abandon the use of terrorism against other countries, dismantle terrorism infrastructures where they exist, and bring perpetrators of terrorism to justice.” The statement then asked all countries “to fully respect and sincerely implement their commitments to resolve disputes bilaterally and peacefully, without resorting to violence and terrorism.

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UAE Based Aries Group to Produce 1000 Regional Films Under Project Indywood

Biju Majeed will direct the film, whose script is written by K. Shibu Raj. P.C. Lal will wield the camera and Biju Ram will compose the music for the film, which would be shot in Kerala and completed in one schedule.

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UAE-based Aries Group on Saturday announced it will use its Corporate Social Responsibility (CSR) funds to produce 1,000 regional films in the next five years under its
UAE based Aries Group will use CSR funds for the films. Pixabay

UAE-based Aries Group on Saturday announced it will use its Corporate Social Responsibility (CSR) funds to produce 1,000 regional films in the next five years under its “Project Indywood”.

The project will be launched with the pooja of a film titled “Aickkarakonathe Bhishaguaranmaar” at Punalur near here on Sunday, said Aries Group Chairman and CEO Sohan Roy.

“‘Aickkarakonathe Bhishaguaranmaar; will mark the launch of Project Indywood’s ambitious plan to produce 1,000 regional movies in India in the next five years. Besides prominent actors from the industry, twenty talents discovered through the national-level auditions conducted by Indywood Talent Hunt will play important roles in the movie,” he told media here.

UAE-based Aries Group on Saturday announced it will use its Corporate Social Responsibility (CSR) funds to produce 1,000 regional films in the next five years under its "Project Indywood".
The shooting of the films will take place in Kerala. Wikimedia commons

Biju Majeed will direct the film, whose script is written by K. Shibu Raj. P.C. Lal will wield the camera and Biju Ram will compose the music for the film, which would be shot in Kerala and completed in one schedule.

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Roy, a Kerala-born marine engineer-turned-film director, shot to international acclaim in 2011 with his film “DAM999” which was selected for the Oscar race that year in three categories – Original Song, Original Score and Best Picture.

Though “DAMA999”, which tells the tale of a cracking dam built during colonial rule and how it impacts nine characters, failed to secure a place in the final nomination list of the 84th Academy Awards, it bagged two honorary awards at the Global Music Awards held at California. (IANS)

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