Sharjah explores trade, investment ties with India

The IBPC-SCCI meeting highlighted facilitative measures and investment opportunities for Indian firms in Sharjah, emphasising the crucial role of periodic gatherings for communication between stakeholders.

The Indian Business and Professional Council, affiliated with the Sharjah Chamber of Commerce and Industry (SCCI), has conducted an extensive business meeting to discuss ways to strengthen cooperation and boost bilateral trade volume and mutual investments between the business communities of Sharjah and India.

Discussions delved into prospects for enhancing coordination between the two business communities and exploring investment opportunities across diverse strategic economic sectors.

The meeting also focused on bolstering the exchange of information regarding investment prospects and building sustainable partnerships to fuel growth in trade exchanges and joint investments, leveraging the comprehensive economic partnership between the UAE and India.

Held during the Ramadan suhoor banquet at Sharjah’s Jazerat-al-alam, the meeting was attended by Dr. Khaled Omar Al Midfa, Chairman of Sharjah Media City (Shams), and Ahmed Obaid Al Qaseer, CEO of the Sharjah Investment and Development Authority (Shurooq), as well as Adel Al Ali, Group Chief Executive Officer of Air Arabia, and Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI.

Also present were Satish Kumar Sivan, Consul General of India in Dubai and the Northern Emirates; Jamal Saeed Buzangal, Director of the Media Department at SCCI; Lalu Samuel, Chairman of the Indian Business and Professional Council, along with members of the Indian Business Council, business community representatives, and heads of major Indian companies operating in Sharjah.

The meeting underscored the facilitative measures and investment prospects extended to Indian companies within the emirate, emphasizing the pivotal role of periodic gatherings in bridging communication between investors, corporate heads, and business leaders from both Sharjah and India.

Moreover, the discussions highlighted the level of investment cooperation and the diverse opportunities available for Indian companies operating in Sharjah, particularly within strategic sectors such as energy, maritime industries, shipping services, and ship agencies. The meeting also delineated opportunities available for Indian companies specializing in commerce, food industries, tourism, real estate, and contracting.

Abdul Aziz Al Shamsi emphasised that the Indian Business Council’s meeting, which brought together all those concerned with consolidating ties between Sharjah and Indian business communities, stands as an essential component of the endeavours made by the Sharjah Chamber and its associated business councils to boost business relations between the two communities.

Stressing its pivotal role in catering to the needs of member companies affiliated with the Indian Business and Professional Council, Al Shamsi added that the meeting aligns with broader efforts to enhance economic and commercial cooperation with India.

He pointed out that such gatherings provide fruitful opportunities for fostering new business partnerships between Indian and Emirati companies, which in turn serve as a fundamental pillar for fortifying bilateral trade and mutual investment.

For his part, Lalu Samuel noted that the Indian Business Council’s meeting aimed at bringing together leaders of Indian companies investing in Sharjah with their counterparts in the emirate, along with relevant entities, to develop cooperative relations and explore further opportunities to achieve the council’s objectives.

Underscoring the importance of fostering communication bridges between Indian companies and economic prospects in Sharjah, Samuel clarified that this initiative seeks to cement sustainable collaborative ties and create avenues for acquainting with efforts supporting investors, and thereby elevating economic activities in the emirate.

An estimated 17,500 Indian companies are currently operating in the Emirate of Sharjah, according to SCCI’s members. The Sharjah Chamber inaugurated the Indian Business and Professional Council in February 2023.

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