Ritika Sharma / Emirates Business
India has yet again cemented its position as one of the major business allies for the UAE. Dubai Airport Freezone Authority (DAFZA) has reported a strong year for Indian companies in the freezone.
DAFZA has reported a 23 percent increase in the number of Indian companies operating within the freezone during 2015. Official statistics reveal that India leads the list of DAFZA investors last year, accounting for 38 percent of total Asia Pacific investments.
Indian has long been a strategic partner for DAFZA. During one of the meetings held with leading businessmen to recognise the role of Indian companies in the freezone, Dr. Mohammed Al Zarooni, Director General, DAFZA, was quoted saying, “We remain steadfast in the commitment to build robust relations with India’s business and investment community — reflecting on the strong historic and economic ties between the UAE and India.”
DAFZA is now looking forward to expand interactive activities in terms of strengthening the channels of knowledge transfer and exchange of experiences with entrepreneurs and investors in India, the world’s second most populated country.
Interestingly, this announcement by DAFZA has come on the close heels of the UAE’s high-level delegation visit to India that had a stopover in the country’s economic capital Mumbai and emphasised up on increasing mutual collaborations and investment between two nations. This delegation was led by His Highness Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan’s, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
According to DAFZA, the investments of Indian companies, 45 percent of which are multinationals, focus on the electronics and communications sector which ranked first at 25 percent. It is followed by the computer, internet and IT solutions sector (14 percent) and jewellery, watches and precious stones (9 percent).
Indian human resources comprise around 34 per cent of DAZFA’s total workforce and of the regional, international and multinational companies working in the free zone.
It is worth a mention here that last year, Oommen Chandy, Chief Minister of Kerala had visited DAFZA to discuss the possibility of establishing a new free trade zone in the city of Kochi that would reflect the administrative, logistical and knowledge excellence of DAFZA as one of the most advanced free zones in the world.