DP World has launched The India-UAE Bridge initiative which aims to attract Indian trade and investments to its flagship Jebel Ali Port and Free Zone
DP World has launched The India-UAE Bridge initiative which aims to attract Indian trade and investments to its flagship Jebel Ali Port and Free Zone.
A joint collaboration of DP World, Jafza and the Indian Business and Professional Council, the initiative will support investors 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.
Following the recent launch of the DP World Indian Traders' Incubation Centre, one of the primary purposes of the initiative is to serve as a platform for talented Indians looking to share their ideas and businesses to markets in the Middle East and further, state news agency WAM reported on Wednesday.
The announcement was made at an event attended by Navdeep Suri, Ambassador of India to UAE, Mohammed Al Muallem, CEO and managing director, DP World, UAE Region and CEO of Jafza, Nimish Makvana, president of the executive committee, IBPC.
The launch comes as India continues to be one of the UAE’s largest trade partners, boasting over $60 billion with annual growth rate touching 11 percent, expected to exceed $100 billion by 2020.
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 $200 billion 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."
Al Muallem added: "Under The India-UAE Bridge, synergies between DP World, UAE Region and India and the ports and logistics capabilities in both the countries, we will be able to offer integrated supply chain solutions to businesses through our unique end-to-end solutions."For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.