DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has affirmed its latest drive to attract a new wave of Indian businesses to Dubai following the conclusion of its latest Made for Trade Live roadshow in New Delhi and Mumbai.
Looking to build upon the USD 85 billion non-oil trade corridor between the two countries, DMCC highlighted the role of its district and infrastructure as a platform for Indian companies to expand internationally and unlock growth opportunities.
The UAE’s bilateral trade with India has accelerated in recent years, surging 16% in 2023 after the implementation of the pioneering Comprehensive Economic Partnership Agreement (CEPA). This growth is reflected at DMCC through its growing Indian member company base, which currently stands at 3,888, or 16% of its 24,000 members.
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.”
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