UAE and India trade to touch $100b by 2020
March 13, 2017 - A high-profile trade delegation including dignitaries and senior businessmen from the UAE will be visiting Mumbai and Ahmedabad during the week.
According to a recent report by the UAE’s Ministry of Economy, the value of trade exchanges between India and the UAE is projected to reach $100 billion by 2020.
During the three-day event, the delegation will also meet with key stakeholders from the cities’ private and public sectors.
The trade mission to India, takes place from March 14-17th and is part of Dubai Chamber’s Global Business Forum series roadshow.
Senior officials from Dubai Chamber of Commerce and Industry (DCCI) led by Chairman Majid Saif Al Ghurair, are scheduled to meet with the chief ministers of Gujarat and Maharashtra during the visit, and discuss new ways the UAE and India can enhance economic cooperation.
Hamad Buamim, President and CEO, Dubai Chamber explained that the trade mission supports the Chamber’s strategy to expand its international network and explore trade and investment opportunities in promising markets, which its members and business in Dubai stand to benefit from.
Dubai Chamber’s President and CEO described Mumbai and Ahmedabad as dynamic markets that offer a plethora of opportunities in fast-growing sectors. Telecommunications, hospitality, finance, construction, and pharmaceuticals, were identified as sectors that offer the most trade and investment potential in Mumbai, while Ahmedabad offers exciting growth prospects within its retail, textile, food and beverage, automobiles, gems and pharmaceuticals sectors.
Buamim said the delegation’s visit to India will lay the groundwork for forming important partnerships in the country, while it will also help pave the way for future cooperation in key areas that will bring about mutual benefits.
“This trade mission will help us promote the 4th Global Business Forum on Africa, which we are planning to host in Dubai later this year,” said Buamim.