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The Union Cabinet, chaired by Prime Minister Narendra Modi, today gave its approval for the signing and ratification of the bilateral investment treaty between the government of India and the government of the United Arab Emirates, an official statement issued on Thursday said.
"The treaty is expected to improve the confidence of investors, especially large investors, resulting in an increase in foreign investments and overseas direct investment (ODI) opportunities, and this may have a positive impact on employment generation," said the statement. It said that the approval is expected to increase investments in India and is likely to help in realising the goal of Atmanirbhar Bharat by encouraging domestic manufacturing, reducing import dependence, increasing exports, etc. (ANI)
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