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DUBAI / WAM
The Dubai Investment Development Agency (Dubai FDI) an agency of Dubai Economy, recently addressed investors and industry leaders in New Delhi and Mumbai to attract investments from India to the emirate and promote joint initiatives in vital sectors.
The Dubai Multi Commodities Centre, DMCC, and Dubai Tourism and Commerce Marketing, DTCM, joined Dubai FDI in the two roundtable sessions, hosted by Citibank to intro-
duce the emirate’s advantages as an investment destination to
its clients.
“India has always been a leading partner for the UAE and Dubai in trade and investment. Relations have now entered a dynamic phase with both countries reaffirming their commitment to increasing bilateral trade by 60 percent over the next five years,” said Fahad Al Gergawi, CEO of Dubai FDI.
The UAE and India witnessed bilateral trade worth over AED180 billion over the last two years. The country remains a leading foreign investor in Indian infrastructure development. Dubai and India, meanwhile, achieved bilateral trade worth over AED70 billion (US$19.1 billion) during the first nine months of 2016. Currently, imports from India to Dubai account for 60 percent of the total trade value while exports from the emirate are 12 percent and the rest are re-exports.