Dubai-baed DP World has launched a major new initiative to attract Indian trade and investment to its flagship Jebel Ali Port and Jebel Ali Free Zone (Jafza).
A collaboration between DP World UAE Region, Jafza, and the Indian Business and Professional Council, IBPC, the India-UAE Bridge initiative will offer end-to-end solutions to companies and entrepreneurs, according to UAE state media agency WAM. The solutions will take investors and business leaders through value propositions such as the integration of DP World’s assets in both countries, enhancing access to markets beyond the company’s network connectivity and global portfolio, added WAM.
India has long been one of the UAE’s largest trade partners, with more than $60bn in bilateral trade, and annual growth of close to 11 per cent. Bilateral trade is expected to exceed $100bn by 2020.
Speaking at the launch of the initiative, India’s Ambassador to the UAE, Navdeep Suri, said: “The India-UAE Bridge is a win-win for both sides. India is now the fifth largest economy in the world and one of the fastest growing major economies. During the current year, India is expected to add almost $200bn to global economic growth.
“DP World already has substantial investments in India and Indian companies account for a large share of total investments into Jafza. With their advanced infrastructure and logistics capabilities, DP World and Jafza are ideally positioned to become key partners in India’s growth story.
“I expect that the proposed Bridge could become a significant element in the India-UAE Comprehensive Strategic Partnership.”