India and the UAE enjoy a strong bond of friendship based upon age-old cultural, political and economic ties, which has developed into a significant partnership in the economic and commercial world.
In addition, India and the UAE share a common vision toward growth, they share similarity in strategies towards trade. With such immense synergies, DP World UAE has taken a bold step towards further bridging the trade relationship with its portfolio of assets and capabilities in the two nations with a major bilateral trade and investment development initiative ‘The India-UAE Bridge’.
“India is the UAE’s second-largest trade partner, and as the region’s leading trade enabler we are keen to maintain these excellent trade ties and create a relationship that will allow both our countries to prosper under The India-UAE Bridge.”Mohammed Al Muallem, CEO and managing director, DP World, UAE region and CEO of Jafza
The India-UAE Bridge
DP World, UAE Region launched ‘The India-UAE Bridge’ in June 2019, with an aim to boost the trade and investment flows between India and the UAE. While Indians are the majority investors in Dubai, the potential remains huge. With DP World, UAE Region’s supply chain and investment solutions aiming to open larger market access to high-growth frontiers, India’s business community will benefit towards their vision increasing exports to overseas markets. DP World’s investments are broad- spread – from ports to port-side logistics, inland logistics, transportation and beyond – with this asset capability, The India- UAE Bridge offers a customised end-to-end supply chain solution to Indian trade and businesses.
“With their advanced infrastructure and logistics capabilities, DP World and Jafza are ideally positioned to become key partners in India’s growth story.”His Excellency Navdeep Suri, Ambassador of India to the UAE
“UAE and India trade partnership has reached unprecedented levels in recent years. DP World’s participation in India’s logistics sector is a primary example of that.”Nimish Makvana, President of the Executive Committee, IBPC
The 16th CII Global SME Business Summit
Dp world, UAE region and Jafza attracted keen interest from micro, small and medium enterprises (MSMEs) at the 16th CII Global SME business summit in new Delhi. As a part of the India-UAE bridge, the team engaged with Indian companies looking to expand their business outside India and presented a range of strategic solutions, instrumental in showcasing the MSME potential to global markets. The plug and play ecosystem of Jebel Ali offers end-to-end solutions, value-added services and a profitable investment platform.
Supporting the initiative is the Indian Business Incubation Centre for MSMEs at Jafza One, which aims to nurture companies with subsidized cost of set-up for the first three years and incubating businesses leveraging the capabilities and expertise of DP World, UAE Region and Jafza.
Jafza offers investors an attractive ecosystem, where ease-of-doing-business, transparency and customer-centricity are the key pillars. Products and solutions are tailor-made to suit each and every business type as per customer requirements – from offices, warehouses, plots to customised solutions.
The whole ecosystem is supported by a single-window online portal where investors and traders can transact with port, free zone, customs, municipality and a host of other trade enablers, all under one platform.
Jebel Ali’s trade, logistics and industrial ecosystem provides investors and traders access to a market of over 3.5 billion consumers across developing and emerging economies. Jebel Ali Port’s network features connectivity to over 150 ports by more than 180 shipping lines and 80+ liner services – the highest frequency than any port in the region. With speed-to-market being the key differentiator in fast-changing consumer-driven business environment, Jebel Ali aims to establish timely connection between businesses to consumers.
Government Push Towards Enhancing Trade
During the visit of Indian Prime Minister Narendra Modi’s visit to the UAE in 2018, both parties signed a landmark currency-swap pact to carry out trade directly in their local currencies, removing the requirement for hard currencies like US dollars. This reduces the impact of volatility in exchange rates arising from dependency on a third country.
Moving Towards A Cashless Society
India introduced RuPay – India’s home-grown indigenous card scheme, created by the National Payments Corporation of India. It offers a domestic, open-loop, multilateral system that allows all Indian banks and financial institutions to participate in electronic payments. The initiative is expected to have a positive impact on tourism and trade.
“People from India currently have to bring cash or a traveller’s cheque, and it is cumbersome. RuPay will make it much smoother. It is about the ease of doing business, the ease of shopping, and the ease of making payments. It is a big boost for every Indian living in the UAE and will help the relationship between the two countries.”Surender Singh Kandhari, Chairman of Al Dowobi
“Transworld Group is delighted to be associated with RuPay, allowing us to transact business in the UAE better. This initiative further enhances our constant endeavour to serve our customers better using the digital platform.”Ramesh Ramakrishnan, Chairman of the Transworld Group