Dubai Airport Freezone Authority (DAFZA) has recently hosted new roadshows in New Delhi and Bangalore in India under the overarching theme of ‘Gateway to Growth’. The events highlighted the attractive investment opportunities that DAFZA has created for international businesses, with the aim of increasing Foreign Direct Investment (FDI) from India to Dubai, in line with Dubai Plan 2021.

The roadshows were led by a senior delegation from DAFZA and provided Indian businesses of all sizes insights on the business landscape in Dubai and the investment trends across key sectors within the Emirate.  

Ties between India and the UAE have continued to strengthen, as shown by the annual increase in the number of Indian companies which now account for 10% per cent of the total number of Asian companies based in DAFZA. The current level of bilateral trade between the UAE and India as a whole amount to about $53 billion dollars.

The roadshows initiative joined a series of projects launched by DAFZA to help stimulate business interest from Indian companies to set up in the free zone. This included a special forum which was held for Indian businesses under the theme 'India: A Strategic Partner for Growth in an Evolving Global Economy'. The initiatives help showcase DAFZA’s innovative economic solutions that have been designed to drive commercial growth and diversification; as well as enhance the UAE's role in the development of the international economy.

Jamal Bin Marghoub, Sales Director, DAFZA: “The UAE and India share a deep and historic relationship that has only developed and grown in recent years. Trade and economic activities have played a crucial role in this development and we believe that India will remain a strategic partner to our country for many years to come. DAFZA’s roadshows in Bangalore and New Delhi are just some of the many initiatives that we have created to help nurture bilateral trade and attract more investment and business opportunities for organizations in both countries.

“We are enhancing and developing new services to help start-ups as well as medium and large businesses to identify new prospects for setting up operations in the free zone. We look forward to continued long-term success and cooperation between the two nations, as we seek to help diversify the economy and establish fruitful international partnerships,” added Jamal Bin Marghoub.

During the roadshows, DAFZA showcased how the IT, Internet and telecommunications sectors are among its fastest-growing serviced sectors involving Indian companies. Electronics follows as second fastest, with jewellery, watches and precious stones tied at third. Some of the key Indian companies include Tech Mahindra, Tally, Mind Tree, Godrej, Kalyan Jewelers FZE, Chemmanur Gold Palace International FZCO, Himalaya Drug Company FZCO, and TATA Motors Ltd.

DAFZA’s recently announced results show that companies operating in the ICT sector accounted for 28% of the total number of companies operating within the free zone. 10% were in the consumer products sector; 9% in the investment and business development sectors and engineering and building materials sector; shipping, logistics, aerospace and related services were at 8%. 7% of companies at DAFZA were in the food and beverage sector and 5% in medical equipment and pharmaceuticals. India will continue to be a major market across a number of these sectors for DAFZA’s future initiatives and projects.

 

Source: Four Communications