Latest news with #Dubai-IndiaBusinessForum
Arab News
10-04-2025
- Sport
- Arab News
Dubai's crown prince meets ICC chairman, cricket stars during maiden India visit
RIYADH: Sheikh Hamdan bin Mohammed, the crown prince of Dubai, deputy prime minister and defense minister, met with Jay Shah, chairman of the International Cricket Council, during his first official visit to India. He also met with Indian cricket stars Rohit Sharma, Hardik Pandya and Suryakumar Yadav during the Dubai-India Business Forum, the Government of Dubai Media office said on X. The meeting with Shah was an opportunity to reaffirm the UAE's commitment to advancing global sport through meaningful international partnerships. He underlined the UAE's growing role as an international hub for sporting events, driven by a long-term vision and advanced infrastructure. Sheikh Hamdan also highlighted the UAE's pride in hosting the ICC headquarters in Dubai since 2005, a reflection of the country's strong support for international sporting organizations. 'The UAE's infrastructure, innovation, and long-term vision make it a natural hub for international sporting excellence,' Sheikh Hamdan said, according to Emirates News Agency WAM. While meeting the Indian players, Sheikh Hamdan congratulated them on India's recent triumph in the 2025 ICC Champions Trophy, which the team secured with a memorable victory at the Dubai International Cricket Stadium last month. Commenting on the meeting and sharing a video on X, the ICC chairman wrote: 'Delighted to help connect cricket with visionary leadership in Mumbai where it was a true honor to meet His Highness @HamdanMohammed with @ImRo45 , @hardikpandya7 , and @surya_14kumar. These moments typify the uniting influence of cricket worldwide.' The Indian players shared their experiences of playing in the tournament and of competing in tournaments in the UAE over the years. They praised the world-class facilities, excellent organization and vibrant sporting atmosphere. Sheikh Hamdan noted the growing popularity of cricket in the UAE, supported by the Emirates Cricket Board under the leadership of Sheikh Nahyan bin Mubarak Al-Nahyan. He reiterated the UAE's commitment to nurturing cricket and providing an environment in which the sport could flourish.
Khaleej Times
10-04-2025
- Business
- Khaleej Times
How UAE-India trade corridor helps keep prices low, quality high for imports in Dubai
A trade agreement signed by UAE and India in 2022 has helped to keep the cost of imported Indian products low in Dubai, according to a local retailer. Nilesh Ved, Chairman and CEO of Apparel Group, said that the partnership helped reduce the cost of imports and likely increased sales of these products. The UAE-India Comprehensive Economic Partnership Agreement (CEPA) was signed in 2022 and opened a mutually-beneficial corridor which increased trade between the two countries by over 20.5 percent since then. 'Most of the items that we bring into the UAE, that is made in India, are free of duties,' he told Khaleej Times. 'Earlier the duty was 5 per cent but since the CEPA agreement, it went down to zero. This significantly lowers our costs, which means the retail price also comes down; it's a win-win situation.' The Apparel group, which was established in 1996, sells over 85 brands of products including bags, shoes, clothes and cookware. He added that since the agreement, the group has seen sales go up. 'Because the price is lower, naturally the increase in sales of Indian products is higher,' he said. 'The quality has also improved.' Nilesh was speaking on the sidelines of the Dubai-India Business Forum, which was held in Mumbai to coincide with the first India visit of Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. The forum brought together entrepreneurs and decision-makers of both markets together to explore mutually beneficial ventures. During the forum, Abdulla bin Touq Al Marri, UAE's Minister of Economy, pointed out that the trade between both countries hit above $65 billion in 2024 in non-oil trade. The CEPA agreement had aimed to take that figure to $100 billion by 2030 – a feat that many experts say will be achieved well ahead of time. According to Nilesh, Dubai offered a gateway for many Indian businesses to expand into the world. One of the Indian entrepreneurs that attended the forum, Juzar Potia, said that he was hoping to expand his STEM education venture, Duck Learning India, to Dubai. 'I met a lot of Dubai-based companies with whom I had fruitful discussions,' he said. 'Hopefully, with the support of the Dubai International Chambers, I will be able to expand my business into Dubai soon.' 'With over 200 nationalities living in the city, it is the perfect market for Indian business to test the waters,' Nilesh said. 'Whether they want to expand into Philippines or Spain or Egypt, they can test the product with these nationalities in Dubai and fine-tune their strategies before making a leap into that market.'
Khaleej Times
09-04-2025
- Sport
- Khaleej Times
Look: Sheikh Hamdan meets Indian cricketers, presented 'Dubai 11' jersey by captain Rohit Sharma
Sheikh Hamdan, who is on a two-day official visit to India starting April 8, met Indian cricketers in Mumbai on Wednesday. Indian cricket team skipper and Mumbai Indian member Rohit Sharma along with other MI stars Suryakumar Yadav and Hardik Pandya met the Dubai Crown Prince who arrived in a black suit. The Chairman of the International Cricket Council (ICC), Jay Shah, was also present at the interaction held on the sidelines of the Dubai-India Business Forum in India's financial capital. Sheikh Hamdan was presented a Team India jersey — which was branded Dubai 11 — by Rohit Sharma. He also posed with the cricketers with the jersey in hand. Later, in an Instagram post, Sheikh Hamdan wrote in Hindi that meeting with the Indian cricketers was 'memorable' The Dubai Crown Prince arrived in New Delhi on his first official visit on Tuesday at the invitation of Prime Minister Narendra Modi. Sheikh Hamdan met with the Indian Prime Minister on the first day of his arrival. During the trip, the Dubai Crown Prince held talks with senior officials on ways to strengthen partnership and cooperation between the the UAE and India. The visit is aimed at strengthening bilateral ties between the UAE and India and explore opportunities for enhanced cooperation between the two countries.
Arab News
09-04-2025
- Business
- Arab News
India broadens cooperation with Dubai as emirate's crown prince visits
NEW DELHI: Indian authorities and businesses have expanded cooperation with Dubai during the emirate's crown prince's two-day state trip to India. Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum arrived in New Delhi on Tuesday for his first official visit, during which he met Prime Minister Narendra Modi and members of his Cabinet. From the capital, he traveled to Mumbai for the Dubai-India Business Forum co-organized by the Dubai Chambers, the Confederation of Indian Industry, and the Federation of Indian Chambers of Commerce and Industry. 'Delighted that his first official visit to India coincides with the 100th anniversary year of the visit of his grandfather His Highness Sheikh Saeed to India,' Indian Commerce and Industry Minister Piyush Goyal told the forum's participants. 'We witnessed the signing of MoUs focusing on future-ready supply chains and modernizing India's maritime infrastructure … I underlined our deep cultural, economic, and trade ties that have further strengthened in the last decade with high-level engagements between our leadership that (go) beyond the realm of diplomacy.' India's economic ties with the UAE, including Dubai, have grown rapidly since the 2022 Comprehensive Economic Partnership Agreement came into power, eliminating trade barriers, lowering tariffs, and easing business operations. In 2024, the UAE ranked as India's third-largest global trade partner, following China and the US, with imports valued at $60.1 billion and exports at $37.8 billion. In Dubai in particular, India has emerged as a top investor. Last year alone, India's foreign direct investment into Dubai surged to over $3 billion. The most populous of the UAE's seven emirates, Dubai is also home to the majority of India's 4.3 million diaspora. 'Indian investors form a key part of Dubai's business landscape, with 72,651 active Indian companies registered as members of the Dubai Chamber of Commerce by the end of March 2025,' Mohammed Ali Rashed Lootah, CEO of Dubai Chambers, said during the Mumbai forum. 'Dubai holds a strategic position for Indian companies as a preferred investment destination due to its unique competitive advantages.' Venues for cooperation with the emirate were further explored during the business forum in Mumbai, which saw dozens of Dubai business leaders arriving during Sheikh Hamdan's visit and in which a new agreement between the Dubai Chambers and CII was signed. 'The forum focused on enhancing strategic economic opportunities between the two markets and was attended by more than 200 businesses from both sides. During the forum, many avenues were explored to enhance trade and investment opportunities (and) identify new opportunities to launch new joint ventures and strategic partnerships,' Manish Mohan, CII regional director-international, told Arab News. 'The MoU between CII and Dubai Chambers is significant in trying to see how we can improve and expand business between the Emirate of Dubai and India.' On the sidelines of Sheikh Hamdan's visit, India and Dubai also agreed to establish in Dubai the first overseas campuses of the Indian Institute of Management in Ahmedabad and of the Indian Institute of Foreign Trade. 'This follows the inauguration of the first-ever campus of the IIT in the Middle East in Abu Dhabi last year,' the Indian Ministry of External Affairs said in a statement, adding that it also 'positions Dubai and the UAE as a key regional and global destination for eminent Indian educational institutions.' The new 100-bed India-UAE Friendship Hospital will also be established in Dubai to provide affordable healthcare to Indian workers. 'It is also a recognition of the contribution of millions of Indians for the development and growth of Dubai,' the ministry said. 'These initiatives will benefit the 4.3 million-strong Indian diaspora living in the UAE and around 9 million Indian diaspora in the Gulf region.'
Zawya
09-04-2025
- Automotive
- Zawya
UAE investors eye opportunities in India's rapidly growing sectors
DUBAI - India's significant economic transformation positions it as a leading global growth centre in the coming years, according to a Dubai Chambers report released during the Dubai-India Business Forum. Several promising Indian sectors present strategic opportunities for UAE investors amid increasing economic cooperation between the two nations. India is home to Asia's second-largest new car market after China, with annual unit sales posting a strong recovery over the past three years. The segment is expected to expand at a compound annual growth rate (CAGR) of 3.3 percent, with annual sales approaching 5.2 million units during 2024-29. Electric vehicles sales are projected to increase at a CAGR of 16 percent between 2024-29, but will account for only 4 percent of total new-car sales by 2029. With its large population, India is a substantial consumer market and a key attraction for retailers and luxury brands. Private consumption accounts for 57.5 percent of GDP, making the retail sector a key pillar of employment and economic growth. The report highlights that retail and e-commerce expansion is shifting beyond major urban centres to smaller cities, where rising purchasing power and high smartphone penetration are unlocking new growth opportunities. India's financial services sector has shown a strong recovery in recent years, with banks recording three consecutive years of record profits (2021–23). This positive momentum is expected to continue, with non-performing loans (NPLs) steadily declining. Profitability is likely to rise further between 2025 and 2029, supported by robust growth in retail banking lending. India's insurance market is set for strong growth, driven by an expanding middle class, innovation, and regulatory support. Total insurance premiums are forecast to increase by 7.1 percent in real terms from 2025–29, positioning India as the fastest-growing insurance market among G20 countries. The report highlights that the financial technology (fintech) sector is continuing to disrupt traditional financial services, emerging as a key channel for credit, insurance, and investment products. India currently hosts the world's third-largest fintech ecosystem by number of operating entities, with a fintech adoption rate of 87 percent. This is significantly higher than the global average of 67 percent. Total healthcare spending in India is projected to grow at a 9 percent CAGR between 2025 and 2029, driven by increased government spending and greater adoption of private health insurance. India is a prominent digital healthcare market, witnessing public-private partnerships in areas such as artificial intelligence, telemedicine, and medical imaging. Under its national infrastructure programme, India is currently undertaking over 13,000 projects valued at over $2.3 trillion, spanning roads, bridges, power plants, railways, and ports. Infrastructure-specific programmes are also creating a significant impact, particularly the National Infrastructure Pipeline (NIP), which supports infrastructure project development. The NIP currently includes 13,214 projects with combined investments of $2.3 trillion. According to BMI Infrastructure Key Projects Data, India holds large project pipelines in industrial construction, power, road, and rail infrastructure. Industrial sectors are a high priority within these ongoing projects, creating opportunities for strategic partnerships with UAE technology and infrastructure companies.
