DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, concluded the latest edition of its Made for Trade Live Roadshow in India today. Both EmiratesNBD and Dubai Tourism (DTCM) joined DMCC to showcase the best Dubai has to offer.
The flagship event allows DMCC to travel the globe and communicate the commercial appeal of Dubai and the opportunities it offers for growth in the region and beyond.
Nearly 400 business leaders and industry experts attended the event in Mumbai and Hyderabad, where they gained valuable insights on the ease of doing business in Dubai and the power of partnering with DMCC for business growth. The event was inaugurated by Gautam Sashittal, CEO, DMCC, followed by speeches by Vikash Mittersain, Founder & President, India Business Group; and Sharad Agarwal, CEO, Emirates NBD Mumbai India.
A panel discussion focused on “Expanding business in Dubai and beyond” where Sanjeev Dutta, Executive Director – Commodities, DMCC, Shankar Chatterjee, Founder Chairman & Managing Director, S Cube Trans Continental Logistics, Captain BVJK Sharma, Joint Managing Director and CEO of JSW Infrastructure Ltd, S.Sittarasu, CEO Jawaharal Nehru Port Trust, and Rajnickant Patel, former MD & CEO, Bombay Stock Exchange, shared their views and experiences.
“By 2020, it is expected that bilateral trade between the UAE and India will reach $100 billion, almost ten-fold the value it was in the 1970’s. Setting up a company in Dubai is an important step if you want to grow your business, and DMCC’s roadshows provide an ideal platform to learn more about doing business in our free zone, and unlock further opportunities for trade” said Gautam Sashittal, Chief Executive Officer, DMCC.
“EmiratesNBD is delighted to work with DMCC to meet the Indian business community as part of its roadshow outreach, helping to showcase Dubai and the opportunity presented with doing business from the world’s leading free zone” said Sharad Agarwal, CEO, Emirates NBD Mumbai India.
DMCC offers a unique business and regulatory environment for companies wishing to establish themselves in Dubai. It is home to over 15,000 companies and a community of 100,000 people who live and work in the free zone. Today, more than 2,500 Indian businesses have chosen to set up in DMCC and almost 21,000 Indian nationals work in DMCC, equivalent to 30% of the workforce.
Lt. Gen. J.S. Ahluwalia, PVSM (retd.) – President, Institute of Directors: “Our relationship with Dubai, and DMCC, is one that goes back many years. Together, we have strengthened the ties between our business communities, boosted trade and enhanced connectivity. We will continue to work together to foster more growth and more opportunities while promoting innovation and sustainability.”
For its part, the UAE is home to 3.3 million Indian expatriates and the 10th largest foreign investor in India. The UAE is the third largest foreign trade partner to India after China and the USA. In 2017, trade relations between the UAE and India reached USD53 billion, of which $35 billion was non-oil trade.
A market-maker for global trade and enterprise with a mandate to facilitate trade through Dubai and to connect new markets and more established markets, DMCC provides all of the products, services, physical and financial infrastructure business makers need to trade with confidence.