Media ININ Economy We Trust
Dubai 23-08-2019
The number of Indian companies that joined Dubai Chamber in the first half of this year increased to 2,208, accounting for about 24.4% of the total new companies that joined the Chamber during the first half of 2019, a growth rate of 18.5% compared to the number of new Indian companies that joined the Chamber. The total number of Indian companies registered in the Chamber’s membership and operating in the Emirate of Dubai to 38,704 companies during the first half of 2018.
Hamad Buamim, Director General of Dubai Chamber of Commerce and Industry, said that the UAE-India economic relations are at a golden stage with the development of joint economic and trade cooperation, the flow of bilateral investments and the development of political and diplomatic relations to high levels of coordination and partnership.
He added that the chamber pays great attention to the Indian market as it opened a representative office in Mumbai last year to stimulate economic partnerships and trade and investment cooperation.Our office in India held 124 meetings during the first half of this year with Indian investors and businessmen who wish to expand in Dubai. Just last month, a trade mission to New Delhi and Bangalore aimed to attract some 200 startups to Dubai in key areas of the knowledge and innovation economy such as artificial intelligence, blockchain and smart services and help them expand into the region’s markets from the emirate. As a global destination and regional capital for startups and entrepreneurship.
According to a Dubai Chamber analysis, there are broad prospects for future trade cooperation between the UAE and India. Natural pearls, carpets and fabrics from UAE to India.
The investment side of the UAE-India relationship is dominated by certain sectors. Pharmaceuticals, tourism, mining, goods and consumer services are the most prominent sectors with high potential for joint investment.
The analysis identified the main strengths of India’s economy and its investment environment, including high domestic demand, which is seen as a catalyst for economic growth and low labor costs. Half of the population is under 25, while opportunities emerge with government plans to ease restrictions on foreign direct investment.
