On the 30th June, at the “The India-United Arab Emirates Bridge” event, details of the aspiring initiatives were announced. This event was organized by the Indian Business & Professional Council, Jafza, and the DP World UAE Region.
The exchange-to-exchange solutions delivered under the initiative will be providing support to the investors by means of value propositions like the integration of DP World’s assets in both countries, improving access to the markets which are beyond the firm’s network connectivity & global portfolio.
One of the major purposes of the initiative is to serve as a platform for talented Indians who are looking to share their businesses and ideas to markets in the Middle East and even further. The businesses will benefit the connectivity and exposure to the shipping lines & services, through major ports in the region, inclusive of Jebel Ali Port, and the long-term incentives & benefits of Jafza.
The summit was attended by Ambassador of India to United Arab Emirates, Mohammed Al Muallem, His Excellency Navdeep Suri, Chief Executive Officer and the Managing Director, DP World, United Arab Emirates Region and Chief Executive Office of Jafza, Nimish Makvana, President of the Executive Committee, IBPC, DP World officials, decision-makers and Indian business leaders.
Through Jafza, Jebel Ali Port and the mutual trade between the two countries, India has predominately been one of the largest trade partners of the United Arab Emirates, boasting over $60Bn with the yearly growth rate reaching 11 percent. Governments of both countries view this as a long-term relationship due to enter a vivacious growth phase with mutual trade expectancy to surpass $100Bn by 2020.
A year ago, United Arab Emirates company investments in India, led by DP World’s $3Bn joint investment fund with National Investment & Infrastructure Fund of India have been set for the acquisition of assets & develop projects in river and seaports, special economic zones, freight corridors, inland container terminals, as well as, logistics infrastructure like cold storage.