Chandigarh, 16 July 2019: The trade and investment flow between India and the United Arab Emirates (UAE) are poised to expand rapidly with the launch of a major initiative by DP World, UAE Region. This consensus emerged 16 July 2019 at a trade and investment seminar led by DP World, UAE Region and jointly organised with the Confederation of Indian Industries (CII) in Chandigarh.
At the seminar, DP World, UAE Region executives highlighted the synergies that exist in their portfolio across India and UAE, and the integrated solutions ranging from port-centric logistics, inland logistics, freight and transport. The overarching aim is to enhance trade flows with optimised supply chain solutions.
The recent launch of the India-UAE Bridge initiative is set to attract both Indian and UAE trade and investments as DP World offers technology-driven end-to-end (e2e) smarter trade solutions to Indian trade fraternity. DP World remains committed to India’s vision of ‘Make in India’, and Dubai’s ambition to remain the regions #1 trade hub and India’s gateway to global markets.
The e2e solutions delivered under the India-UAE Bridge will support investors through value propositions by leveraging assets and capabilities in both countries. This aims to enhance access to larger consumer markets through Jebel Ali’s network connectivity being 150 direct ports of call, more than 80 weekly services and a global portfolio of over 150 operations in over 40 countries across six continents.
As part of the initiative, DP World UAE Region launched the Indian Traders’ Incubation Center at JAFZA One. Herein, the business will not only benefit from Jebel Ali’s integrated trade ecosystem but will be able to expand its access to new markets across the Middle East and beyond.
Mr Mohammed Al Muallem, CEO and Managing Director, DP World, UAE Region and CEO of Jafza, said: “India and the UAE have enjoyed long and enduring cordial business and trade relations over the years making India one of our top three trading partners. Long-term investment flows in both directions and is the hallmark of trust we place in each other. We aim to work in partnership with stakeholders to create value and explore opportunities with Jebel Ali Port and Jafza acting as a springboard for investors in both countries.
“At DP World, UAE Region, we facilitate trade with our global connections and local expertise by using state-of-the-art technology as the main driver of our success. Our solutions are customised and based on need and scale. We add value at key stages in the supply chain and help transport cargo around the world. We are positioned at every step of the supply chain to support our customers with whatever they need. We welcome Indian industries, businesses and investors to make Dubai their preferred hub of choice.”
In 2018, DP World’s $3 billion joint investment fund with India’s National Investment and Infrastructure Fund (NIIF) was set to acquire assets and develop projects in sea and river ports, freight corridors, special economic zones, inland container terminals and logistics infrastructure such as cold storage.
Mr Gurmeet Singh Bhatia, Past Chairman, CII Northern Region and MD, Ajooni Biotech Ltd also graced the occasion and expressed his views that “India and UAE share cordial diplomatic, political, economic and trade ties over the years. The recent exchange of high level visits has further cemented our historic ties and also opened new avenues for business.”
India is one of the UAE’s largest trade partners with bilateral trade amounting to over $60 billion and annual growth topping 11 per cent. The expectation is to exceed $100 billion as Dubai stands as the key gateway facilitating India-UAE trade.
The UAE is among the top 10 biggest investors in India in terms of FDI, according to India’s Ministry of External Affairs, with five key sectors leading the growth are construction development, power, air transport, hotels & tourism and the metallurgical sector.
Mr Sarvjeet Singh Virk, Chairman, CII Chandigarh Council and Managing Director, Finvasia India Pvt Limited expressed gratitude to the dignitaries and also shared his positivity about the flourishing trade ties between India & UAE. He also encouraged the industry members to utilize the bouquet of opportunities offered by DP World for their businesses.