DUBAI: The Dubai Chamber of Commerce and Industry yesterday hosted its Country Focus Briefing which aimed to familiarise businesses in Dubai with trade and investment opportunities opening up across various economic sectors in India.
The event, held at Dubai Chamber’s premises, was organised in cooperation with the Consulate of India in Dubai, and attended by H.E. Vipul, Consul General, Consulate of the Republic of India in Dubai, H.E. Subhas Desai, Minister of Industries, Government of Maharashtra – India, H.E. Majid Saif Al Ghurair, Chairman, Dubai Chamber, senior Dubai Chamber officials and members, as well as representatives from the emirate’s business community.
During his opening remarks, H.E. Al Ghurair emphasised the strong trade and political ties between the UAE and India, and praised the contribution of the Indian companies to Dubai’s economic growth and development.
H.E. Al Ghurair revealed that the number of Indian companies registered with Dubai Chamber has grown to exceed 37,000, and noted that Dubai’s non-oil trade with India amounted to $26 billion in 2016. He stated the Chamber intends to further enhance economic cooperation and expand the scope of bilateral trade to new sectors and areas.
“The opening of the Chamber’s office in Mumbai later this year will give a major boost to our efforts to explore business opportunities in India, promote Dubai as an attractive hub for Indian companies, and facilitate new partnerships that add value for our members,” H.E. Al Ghurair added.
Giving the keynote address, H.E. Vipul stated that the UAE is one of India’s top trading partners and explained that plans are currently in place to increase UAE-India trade by 60% over the next five years. He noted that there are plenty of opportunities for expanding the scope of trade between the UAE and India, especially in the areas of food processing, water, infrastructure, and pharmaceuticals.
For his part, H.E. Subhas Desai, Minister of Industries of Maharashtra Government of India, praised Dubai Chamber’s decision to open a representative office in Mumbai and described it as a strategic move that will boost cooperation between business communities on both sides. He added that his government is committed to supporting the new office and ensuring its success.
The briefing also included speeches and presentations from The Confederation of Indian Industry, The Economist Intelligence Unit, and India’s Ministry of External Affairs.
Dubai Chamber regularly organises Country Focus Briefings in cooperation with embassies, business councils and commercial representative offices in Dubai, with the aim of highlighting and exploring business opportunities in promising markets around the world. Biz Today Monitoring