UAE and India launch logistics-based trade initiative

DUBAI: July 03, 2019. DP World has launched an initiative to encourage Indian entrepreneurs looking to share their ideas and businesses to markets in the Middle East supported by shipping lines and key ports in the region, including Jebel Ali Port.

The ‘India-UAE Bridge’ is supported by DP World UAE Region, Jafza and the Indian Business & Professional Council (IBPC) and aimed at investors through value propositions that include the integration of DP World’s assets in both countries.

India is one of the UAE’s largest trade partners with bilateral trade growing at an annual rate of 11 percent and likely to exceed US$100 billion by 2020.

In 2018 DP World set up a US$3 billion investment fund with India’s National Investment and Infrastructure Fund (NIIF) to develop projects in sea and river ports, freight corridors, special economic zones, inland container terminals, and logistics infrastructure such as cold storage.

“The India-UAE Bridge is a win-win for both sides. India is now the fifth largest economy in the world and one of the fastest growing major economies. During the current year, India is expected to add almost US$ 200 billion to global economic growth,” commented India’s ambassador to the UAE Navdeep Suri. “I expect that the proposed Bridge could become a significant element in the India-UAE Comprehensive Strategic Partnership.”

Nimish Makvana, president of the IBPC Executive Committee added: “As a facilitator, IBPC always strives to create platforms for two allies and friends to not only promote business relationships but to also exchange knowledge of best practices in terms of governance, technology, professional opportunities and such. This first-ever event is an excellent start to a partnership and IBPC is planning for multiple road shows in India to promote UAE-India trade along with DP World.”

Pictured: Navdeep Suri, India’s ambassador to the UAE flanked by Mohammed Al Muallem, CEO and Managing Director, DP World, UAE Region and Nimish Makvana, IBPC Executive Committee president.