Sharjah woos Indian investors

SHARJAH / WAM

The Sharjah Foreign Direct Investment Office, Invest in Sharjah, has met with India’s leading industrialists, entrepreneurs and government officials during a tour of the sub-continent, participating in trade conferences and partnership summits to promote Sharjah’s vast investment opportunities.
Investment Promotions Managers at Invest in Sharjah, Saif Alsuwaidi and Rajesh Kadam highlighted Sharjah’s current business ties with India and future bilateral trade. The visit coincides with a landmark agreement between the UAE and India to enable businesses to transact directly in each other’s currencies, eliminating the role of the dollar, in a defining move to boost business even further — the Confederation of Indian Industry has forecast that trade between India and the UAE is set to hit $100 billion by 2020, up from the current $60 billion.
During the tour, which took the IIS representatives from Visakhapatnam, the delegates also met with numerous representatives from India’s healthcare sector and Indo-Arab and IMC Chambers of Commerce Industry.
Mohammed Juma’a Al Musharrkh, CEO of Invest in Sharjah, said, “Sharjah has always had extremely close ties with India on both a business and community level, which has been reinforced by the extremely high calibre of authorities, government figures and private investors that were met.”