DMCC, Dubai's leading free zone and authority on commodities trade, aims to attract more Indian businesses post its successful Made for Trade Live roadshow in New Delhi and Mumbai.
With an eye on enhancing the USD 85 billion non-oil trade link, DMCC promotes its infrastructure as ideal for Indian firms seeking global expansion. Bilateral trade with India surged 16% in 2023, boosted by the Comprehensive Economic Partnership Agreement (CEPA), evident in DMCC's 3,888 Indian member companies, comprising 16% of its total membership.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said:
“The UAE-India landmark CEPA agreement eliminated duties on 90 per cent of India’s exports including gems and jewellery, food and energy – and we saw the impact of this first hand, with rapidly growing trade and investment and over 160 new Indian companies joining DMCC last year to add to the almost 3,900 Indian companies across our district. With bilateral trade set to surpass USD 100 billion within the next five years, we see clearly that the UAE-India trade corridor is not only deepening regional trade and investment but creating tangible new commercial opportunities on the ground. We are committed to furthering the enormous potential of this relationship and providing an enabling environment for Indian businesses to tap into global markets from Dubai.”
DMCC's roadshow in India engaged 200+ officials and business leaders, emphasizing Dubai's business advantages and its role in global trade. Key sectors included technology, precious metals, and agriculture. DMCC signed partnerships with South Asian entities, like the Bharat Subcontinent Agri Foundation, to boost global agriculture. The Mumbai office opening marked a milestone in DMCC's support for Indian businesses' international growth.
DMCC’s roadshow programme plays a pivotal role in spotlighting Dubai as a premier business destination. Throughout the series, DMCC emphasises Dubai’s distinctive value proposition in attracting foreign direct investment (FDI) to the emirate. Notably, DMCC contributes 11% to Dubai’s annual FDI inflows, and in 2023, the business district achieved its second-best year on record, welcoming nearly 2,700 new companies. DMCC is now home to over 24,000 businesses from around the globe.
News Source: Dubai Media Office
