Shah said India's goal is to become a USD 5 trillion economy in the next five years.
The changes in FDI policy will result in making India a more attractive FDI destination.
The India-UAE bilateral trade touched almost USD 60 billion in 2018.
FPIs seeking a tax cut and automakers demanding easier access to finance for dealers and buyers flocked to lobby FM Nirmala Sitharaman.
Auto industry has been caught in the middle of slowing economic growth that has led to a slump in demand for vehicles.
Corporate tax rate for companies with over Rs 400 crore turnover will be gradually cut to 25 pc, said FM Nirmala Sitharaman.
There are expectations that the government would come out with sector-specific stimulus sometime soon.
India was ranked 142nd among 190 nations when the Narendra Modi's government took office in 2014.
The commerce minister's visit would see major announcements on collaborative projects with Russia.
The service charges were withdrawn three years ago to promote digital payments.