India assures UAE of legal protection to its investors

India on Tuesday assured United Arab Emirates (UAE) that the legal interests of its investors, who are entangled in investment problems in the country, will be protected.Indian Minister of Commerce and Industry Anand Sharma assured the UAE that India would be addressing legality issues faced by its companies Etisalat, TAQA, DP World, and EMAAR."We will do the best under the circumstances to protect the legal interests of the UAE investors, without violating any judicial orders." Said Sharma during a bilateral meeting with UAE Minister of Economy, Sultan bin Sayeed Al Mansouri on the sidelines of the Partnership Summit 2014 in southern city of Bengaluru.UAE companies that are facing issues in India with regard to their investments include telecom firm Etisalat, marine terminals developer DP World, Emaar (realty) and TAQA (energy).Following a Supreme Court order cancelling its 13 telecom licences, Etisalat exited from India operations and has sought refund of the license fee as well as bank guarantees.The total trade between India and UAE crossed USD 75 billion in 2012-2013.