Latest news with #NileshVed
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.'
Syyaha
12-02-2025
- Business
- Syyaha
Retail Visionary Nilesh Ved Honoured with Lifetime Achievement Award for Transformative Leadership at 2025 RLC Honours
Nilesh Ved, Founder and Chairman of AppCorp Holding and Owner of Apparel Group, was the undisputed highlight of the 2025 RLC Honors as he received the prestigious Lifetime Achievement Award for Pioneering Retail Entrepreneurship. Held on February 4 in Riyadh, Saudi Arabia, the RLC Honors stands as the highest distinction in the global retail industry, recognizing visionary leaders whose transformative contributions have reshaped the future of retail a trailblazer in the retail sector, Nilesh Ved's leadership has been instrumental in revolutionizing the industry, setting new benchmarks for innovation, expansion, and excellence. His relentless pursuit of growth and ability to anticipate industry shifts have positioned Apparel Group as a powerhouse in global retail. This recognition solidifies his legacy as a pioneer who has redefined the retail experience and set the strategic direction for the industry's award ceremony was followed by an exclusive awards dinner, attended by 150 of the most distinguished figures across retail and its interconnected sectors. The evening was a celebration of Nilesh Ved's exceptional leadership, honoring his transformative vision and lasting impact on global receiving the award, Nilesh Ved shared, 'This recognition is a testament to the journey we have embarked on—one that is fueled by passion, resilience, and a commitment to excellence. Retail is not just about commerce; it's about creating meaningful connections and experiences that resonate with people across the world. I am deeply humbled and inspired to continue driving innovation and shaping the future of this industry.' The RLC Honors once again underscored its commitment to celebrating the extraordinary individuals shaping the retail landscape. Nilesh Ved's Lifetime Achievement Award serves as a defining moment in his illustrious career, recognizing his unparalleled contributions and visionary leadership that continue to inspire the next generation of retail pioneers.
Khaleej Times
07-02-2025
- Business
- Khaleej Times
Nilesh Ved honoured with Lifetime Achievement Award for transformative leadership at 2025 RLC Honours
Nilesh Ved, founder and chairman of AppCorp Holding and owner of Apparel Group, was the undisputed highlight of the 2025 RLC Honors as he received the prestigious Lifetime Achievement Award for Pioneering Retail Entrepreneurship. Held on February 4 in Riyadh, Saudi Arabia, the RLC Honors stands as the highest distinction in the global retail industry, recognising visionary leaders whose transformative contributions have reshaped the future of retail worldwide. As a trailblazer in the retail sector, Ved's leadership has been instrumental in revolutionising the industry, setting new benchmarks for innovation, expansion, and excellence. His relentless pursuit of growth and ability to anticipate industry shifts have positioned Apparel Group as a powerhouse in global retail. This recognition solidifies his legacy as a pioneer who has redefined the retail experience and set the strategic direction for the industry's future. The award ceremony was followed by an exclusive awards dinner, attended by 150 of the most distinguished figures across retail and its interconnected sectors. The evening was a celebration of Ved's exceptional leadership, honouring his transformative vision and lasting impact on global retail. Upon receiving the award, Ved shared: 'This recognition is a testament to the journey we have embarked on—one that is fueled by passion, resilience, and a commitment to excellence. Retail is not just about commerce; it's about creating meaningful connections and experiences that resonate with people across the world. I am deeply humbled and inspired to continue driving innovation and shaping the future of this industry." The RLC Honors once again underscored its commitment to celebrating the extraordinary individuals shaping the retail landscape. Ved's Lifetime Achievement Award serves as a defining moment in his illustrious career, recognising his unparalleled contributions and visionary leadership that continue to inspire the next generation of retail pioneers.
