Sharjah Chamber of India highlights the emirate’s position on the economic level
Mumbai, July 7 / WAM / His Excellency Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry, stressed that Sharjah is characterized by a strategic position for Indian companies as a preferred investment destination for its integrated competitive elements.
He said that Indian investors are a major part of the business scene in the emirate, noting that about 2000 new companies joined the Sharjah Chamber’s membership in 2024, so that the number of Indian companies operating in the Emirate of Sharjah, according to memberships, was about 20 thousand Indian companies in the same year, an increase of about 30% compared to 2023, while the value of exports and re -export from Sharjah to India according to the certificates of the establishment issued by the Sharjah Chamber. About 576 million dirhams.
This came during the activities of the Sharjah and India Business Forum organized by the Sharjah Chamber in Mumbai, among the first commercial mission stations led by the Chamber represented by the Sharjah Center for Export Development to the Republic of India, which includes 15 companies operating in the emirate in various economic sectors, within the framework of its keenness to enhance the expansion of local companies and the private sector in the Indian markets and explore and display the promising investment opportunities that Sharjah is distinguished in all fields.
The forum was witnessed by His Excellency Abdullah Sultan Al Owais, Chairman of the Board of Directors of the Sharjah Chamber of Commerce and Industry, His Excellency Walid Abdel Rahman Boukhtar, Second Deputy Chairman of the Board of Directors of Sharjah Chamber A number of Chamber employees, businessmen, executives, and officials in industrial, productive and export companies in Sharjah.
During the forum, the mission discussed ways to develop economic and trade cooperation between the Emirate of Sharjah and the Republic of India and review partnership opportunities in major sectors such as manufacturing, information technology, health care, renewable energy, logistical services, education, tourism and other sectors of common concern.
The forum included holding a number of meetings and bilateral business meetings between Sharjah companies and their counterparts in India to discuss cooperation and expansion opportunities, conclude agreements and deals, and establish investment partnerships in a way that contributes to promoting trade exchange between the two countries.
Al -Owais affirmed during the forum the depth of the established relations that bring the UAE in India, noting that the economies of the two countries are considered one of the fastest growing economies, which gives a positive indication of the momentum of economic opportunities in the markets of the two countries during the next stage in light of their distinguished economic partnership, which has witnessed remarkable growth in recent years as the UAE is the third trade partner of India globally in 2024, as the volume of non -oil trade exchange between the Emirates reached During the year 2024, India is more than 240 billion dirhams, which represents an increase of 20.5 % compared to 2023, in which the size reached about 199.3 billion dirhams, and it indicates a strong and continuous dynamic in bilateral trade relations between the two countries.
He pointed out that the Chamber’s mission to India comes in line with its vision to contribute to playing a vital role in enhancing economic and commercial relations between the Emirate of Sharjah and India and the definition of various opportunities that attract every year of more Indian companies to invest in the emirate due to its government facilities and initiatives supporting foreign investments, indicating that the city of Mumbai has a strong economic base that depends on the financial services and information technology sectors And maritime freight, which makes it an important station to enhance the promising investment opportunities enjoyed by these sectors and vital industries in front of the Emirati business community and supporting them.
He noted the importance of the forum, which represents a new starting station towards deeper cooperation between the business community and enhancing joint work to increase the volume of trade and investment exchange, which increases the economic ties between the two friendly countries and constitutes a great leap towards contributing to achieving the targets of the comprehensive economic partnership agreement that brings the two countries to increase to increase investment and commercial flows and in a way that supports the increase in the volume of non -oil -oil trade to 100 billion dollars by 2030.
Ali Abdullah Al -Jayyal gave a comprehensive presentation through which he dealt with the most prominent opportunities and investment advantages enjoyed by the Emirate of Sharjah and the various economic environment it possesses in addition to a flexible legislative environment that supports business growth and contributes to attracting foreign capital.
He highlighted the role of the Chamber in enabling investors through business councils that are effective platforms to enhance direct communication between the business community in Sharjah and its counterparts in various countries of the world, calling on Indian investors and businessmen to take advantage of the institutional and promotional support provided by the Sharjah Center for Export Development, especially with regard to promoting products in foreign markets, participating in international exhibitions and organizing commercial missions.
The mission will move during its visit to India, which will continue until July 11, at its second station to the city of Ahmedabad, and will witness the establishment of a business forum that brings together members of the mission with officials and leaders from the chambers of commerce and industrial, in addition to organizing events and meetings between the UAE and Indian business community with the aim of exploring investment opportunities and joint economic partnerships.
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