India and UAE Discuss To Increase Bilateral Trade by 60%

India and UAE are jointly aiming to enhance bilateral trade by 60% in the next five years, said Hamad Buamim, President & CEO, Dubai Chamber.

He said, “There are several strategic bilateral agreements that have been signed in recent years which aim to boost cooperation between the two countries in several economic sectors and fields such as manufacturing, IT, renewable energy, infrastructure and finance.”

As Dubai and India expand economic cooperation in the future, this trend will result in boosting bilateral non-oil trade beyond the $31.4 billion accounted for in 2018, he said.

The expo will be held between October 20, 2020 and April 10, 2021.

The main focus areas will be bilateral trade and investment in other key sectors and areas such as healthcare, electronics and electrical, real estate, technology and gems and jewellery.

Additionally the Expo 2020 will provide Indian companies with an ideal platform to enhance their global profile and showcase their capabilities on the world stage,” he said.

We have seen growing interest from Indian startups that are keen to enter the Dubai market and expand their presence in the GCC region,” Buamim said,

There is a surge in Indian startups applying to the UAE’s various programmes and competitions offered through Dubai Startup Hub, he added.

The Hub offers a wide range of programmes, support, resources and tools to familiarize entrepreneurs and businesses with Dubai’s fast-growing startup ecosystem.