
Hamdan bin Mohammed inaugurates DP World's Nhava Sheva Business Park in India
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence of the UAE, inaugurated DP World's state-of-the-art Free Trade Warehousing Zone (FTWZ) – the Nhava Sheva Business Park (NSBP) – in Mumbai, India.
The inauguration, which took place during H.H. Sheikh Hamdan's official visit to India, marks a major milestone in strengthening the deep-rooted economic and cultural ties between India and the UAE. As a key enabler of global trade, DP World remains committed to developing world-class logistics infrastructure that enhances supply chain efficiency and accelerates India's trade ambitions on the global stage.
H.H. Sheikh Hamdan toured the facility accompanied by Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World. Sheikh Hamdan was briefed about the various operations, value added services, and customised services deployed to enhance the efficiency of the FTWZ.
Speaking at the inauguration, H.H. Sheikh Hamdan bin Mohammed said, 'The UAE and India share a long-standing and deep-rooted economic partnership. The establishment of world-class logistics infrastructure, such as the Nhava Sheva Business Park, not only strengthens the trade connectivity between our nations but also reinforces our shared vision for growth, innovation, and sustainability."
Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer of DP World, said, 'DP World is committed to building infrastructure that powers global trade. Our investment in Nhava Sheva Business Park further strengthens our infrastructure network in India and will enable us to meet the evolving needs of our large and growing customer base in the country and in the region. The Comprehensive Economic Partnership Agreement between the UAE and India is already accelerating bilateral trade, and the Free Trade Warehousing Zones network will ensure greater efficiency, sustainability, and scale.'
DP World has developed three world-leading Free Trade Warehousing Zones in India with an investment of over US$200 million (AED735 million). Strategically located close to India's coasts, they offer advanced infrastructure, flexible warehousing, ease of regulations, and seamless value-added services, making operations simpler.
The Nhava Sheva Business Park near Mumbai offers 1 million sq. ft. of warehousing space, with another one million in the planning stage. It offers specialised and temperature-controlled spaces, catering to diverse industry needs. As part of DP World's global network of 12 Free Trade Warehousing Zones (FTWZs)—including the Integrated Chennai Business Park in Tamil Nadu and the Cochin Economic Zone in Kochi—the Nhava Sheva Business Park enhances India-UAE trade by reducing costs, improving efficiency, and boosting supply chain competitiveness. These three Indian FTWZs are well integrated with DP World's Jebel Ali Free Zone (JAFZA) facilitating seamless cargo movement and strengthening global trade connectivity for India and the UAE.
During the facility's inauguration, 35 women recruited from local communities worked the shift—reflecting DP World's efforts to generate employment in the regions where it operates. This initiative aligns with the company's broader Diversity, Equity, and Inclusion (DEI) objectives in India, aimed at increasing female representation and fostering a more inclusive work environment within the logistics sector. It also supports DP World's strategic vision for the SCO region, promoting women-staffed warehouses across its operations.
Awarded Platinum certification by the Indian Green Building Council (IGBC) for green design, Nhava Sheva Business Park promotes environmental stewardship and economic growth while supporting global business. Its strategic location near a major Indian port, the Jawaharlal Nehru Port Authority, the Navi Mumbai Airport, and national highways enhances India's trade connectivity through efficient multimodal cargo movement.
H.H. Sheikh Hamdan planted a sapling at NSBP, marking the UAE's strong commitment to sustainability and its growing partnership with India. This symbolic act reflects the shared values and long-term vision between the two nations.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Arabian Post
40 minutes ago
- Arabian Post
AI‑Powered 'RIQ' Sets New Reinsurance Benchmark
Arabian Post Staff -Dubai Abu Dhabi‑based IHC, in collaboration with BlackRock and Lunate, has officially launched Reinsurance Intelligence Quotient—RIQ—a global, AI‑native reinsurance platform headquartered in the Abu Dhabi Global Market. Anchored by over US $1 billion in initial equity, RIQ aims to underwrite more than US $10 billion in liabilities, spanning property and casualty, life, and specialty lines. The platform unites human talent with advanced artificial intelligence to refine risk selection, cost control, underwriting, and customer service. Its AI core provides real‑time insights and precision decision‑making, seeking to optimise capital deployment on a global scale. Registered with the Financial Services Regulatory Authority of ADGM, RIQ is in the final stages of securing full regulatory approval. ADVERTISEMENT The board of directors, chaired by Dr Sultan Ahmed Al Jaber, includes notable figures such as Syed Basar Shueb, H E Mohamed Hassan Alsuwaidi, Sofia Abdellatif Lasky, and RIQ CEO Mark Wilson, former leader at Aviva and AIA. The governance structure positions RIQ to balance regional expertise with global vision, leveraging its strategic partners. The initiative builds on a May plan unveiled by IHC, BlackRock, and Lunate to establish an AI‑powered reinsurer targeting US $10 billion in liabilities with over US $1 billion in capital. BlackRock will contribute its Aladdin technology and insurance asset management services, while Lunate brings private and public market investment capabilities. IHC CEO Syed Basar Shueb has emphasised the venture's role in accelerating Abu Dhabi's and the wider region's nascent insurance and capital market ecosystems. 'RIQ is the embodiment of IHC's vision to invest in the next frontier of global financial services,' Shueb stated. Meanwhile, RIQ CEO Mark Wilson described the platform as purpose‑built for a changing market, combining speed and flexibility backed by deep capital. Dr Al Jaber, who also serves as UAE's minister of industry and advanced technology, said the platform would 'connect global capital with high‑growth markets, all from the heart of Abu Dhabi's thriving financial centre'. This reflects a broader strategic push by Abu Dhabi to position itself as a hub for innovative financial services and AI‑driven offerings. Analysts have observed that RIQ's AI‑native architecture could challenge traditional reinsurance models, where legacy systems often hinder real‑time pricing accuracy and capital efficiency. With global risk landscapes evolving due to climate change, cyber threats, and geopolitical instability, the deployment of AI in underwriting and risk transfer represents a notable shift in industry norms. Industry commentators note that IHC, already one of the region's largest investment houses, continues to accelerate its diversification strategy, adding reinsurance to its growing portfolio that spans technology, energy, real estate, healthcare, and food production. Its ability to marshal more than US $455 billion in assets and maintain tight ties to the Abu Dhabi ruling establishment adds strategic depth to RIQ's capital and governance framework. Key trends marking this launch include the convergence of finance and bleeding‑edge technology, a stronger regional emphasis on insurance capacity, and elevated geopolitical importance of financial resilience. RIQ is set to capitalise on these developments, channeling global capital into emerging markets, while establishing Abu Dhabi as a next‑generation centre for financial innovation.


Zawya
8 hours ago
- Zawya
US tariffs, lower oil prices may slow down FDI flows into GCC: Report
Foreign direct investment (FDI) inflows into the GCC region are expected to slow down in 2025 after a decade of rapid growth, S&P Global Market Intelligence said in its latest outlook report. The slowdown is attributed to investor uncertainties, reflecting changing US trade policies, lower oil prices, and a more gradual development of GCC diversification projects. In the near term, the report forecasts a net negative impact on global FDI, primarily due to the indirect repercussions of US tariffs, a weaker oil price outlook and reduced global investor confidence. Lower oil prices, reflecting expectations of weaker oil demand and increasing OPEC supply, are likely to constrain the foreign exchange earnings generation capacity of large MENA hydrocarbon exporters. This, in turn, will limit their capacity to act as major investors in other countries within the region. While the GCC states have committed to investing large amounts of FDI in the US economy, such outflows are likely to reduce capital available for investment in non-GCC MENA states, which remain 'attractive venues' for renewable energy and tourism developments, the report said. According to S&P Global Market Intelligence, FDI in the region has shifted from hydrocarbons to infrastructure, renewable energy, logistics, tourism, and construction. This is likely to continue, complemented by areas such as auto sector investments in Morocco, but aggregate flows are likely to remain dominated by GCC states. However, a weaker US dollar could support the external competitiveness of GCC countries with currencies pegged to the dollar, the report said.

Zawya
15 hours ago
- Zawya
Deputy President Mashatile undertakes a Working Visit to Russia alongside St Petersburg International Economic Forum
Deputy President Shipokosa Paulus Mashatile will undertake a Working Visit to the Russian Federation on 17-21 June 2025, aimed at strengthening bilateral economic and trade ties between South Africa and Russia. The purpose of the Working Visit is to strengthen bilateral economic and trade ties between South Africa and the Russian Federation, particularly focusing on enhancing economic cooperation in sectors such as agriculture, automotive, energy and mining industries as well as science and technology cooperation. The Working Visit will take place in two cities in the Russian Federation, namely Moscow and St. Petersburg for high-level engagements as well as economic diplomacy activities. In Moscow, Deputy President Mashatile will meet with the Prime Minister of the Russian Federation, H.E. Mr Mikhail Mishutin, to discuss cooperation in the economic, trade and energy spheres. The Deputy President will also meet with the following Leaders from the Russian Federation: President of the Russian Federation, H.E. Mr Vladimir Putin Chairperson of the Federation Council of the Federal Assembly of the Russian Federation, Mrs Valentina Matvienko (Speaker of Upper House) Chairman of the State Duma, Mr Vyacheslav Volodin (Speaker of Lower House) During his stay in Moscow, the Deputy President will lay a wreath at the memorial site dedicated to South Africa's liberation stalwarts, John Beaver (JB) Marks and Moses Kotane. The second part of the Working Visit will take place in St. Petersburg where the Deputy President will participate in the 28th St. Petersburg International Economic Forum 2025 (SPIEF '25), held under the theme: 'Shared Values: The Foundation of Growth in a Multipolar World'. The forum will take place from 19-21 June 2025. Deputy President Mashatile will participate in the plenary of SPIEF '25 and has also been invited to participate as a speaker in the Russia-Africa Business Dialogue. On the sidelines of SPIEF '25 Deputy President Mashatile is scheduled to deliver a Public Lecture at the St Petersburg State University under the theme: 'South Africa's G20 Presidency in a rapidly changing Geopolitical Environment' and also speak during the opening of the South African Trade and Investment Seminar. The St. Petersburg leg of the visit is expected to leverage on promoting South Africa's trade relations and South Africa as an investment destination. The Working Visit will be Deputy President Mashatile's first visit to the Russian Federation since he took office as Deputy President under the 7th Administration. The the Working Visit is preceded by the following high-level visits to the Russian Federation by South African leaders: President Cyril Ramaphosa's Working Visit to Kazan, Russia for the BRICS Summit in October 2024; Deputy Minister of International Relations&Cooperation, Ms Thandi Moraka's participation in the First Russia-Africa Ministerial Meeting in November 2024; Minister of International Relations&Cooperation, Mr Ronald Lamola's visit to co-chair the 18th ITEC session in April 2025, and Minister of Defence and Military Veterans, Ms Angie Motshekga represented South Africa during the '80th Anniversary of the Victory in the Great Patriotic War Celebrations' held in Moscow in May 2025. Deputy President Mashatile will be accompanied by a delegation of Ministers and Deputy Ministers who are part of the Economic Sectors, Investment, Employment and Infrastructure Development Cabinet Cluster. These include International Relations and Cooperation Deputy Minister Alvin Botes; Science, Technology and Innovation Minister Blade Nzimande; Water and Sanitation Minister Pemmy Majodina; Trade, Industry and Competition Minister Parks Tau; Agriculture Deputy Minister Nokuzola Capa; Public Works and Infrastructure Deputy Minister Sihle Zikalala; Mineral and Petroleum Resources Deputy Minister Phumzile Mgcina, and Sport, Arts and Culture Deputy Minister Peace Mabe. Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.