Sharjah24: The Sharjah Chamber of Commerce and Industry (SCCI) has explored with an Indian delegation avenues for bolstering investment and fostering partnerships between the business communities of Sharjah and India.
During the "Sharjah-India Business Forum," held at the SCCI headquarters, the Chamber urged Indian companies to leverage Sharjah's attractive investment climate and the opportunities it presents across several key sectors.
The business forum shed light on the comprehensive economic partnership agreement between the UAE and India, which aims to expand cooperation, increase investments, and boost trade exchange volumes between the two nations.
Present at the meeting were Abdullah Sultan Al Owais, Chairman of the SCCI; Sudarsan Swamy, President of the Vizagapatam Chamber of Commerce and Industry and leader of the Indian delegation; Halima Humaid Ali Al Owais, SCCI Board Member; Mohammad Ahmed Amin Al Awadi, SCCI Director General; Abdul Aziz Al Shamsi, Assistant Director General for Communication and Business Sector; and Jamal Saeed Buzangal, Director of the Media Department at the SCCI.
Also present were Lalo Samuel, Representative Committee Group Chairman for the industrial sector, as well as a crowd of businessmen from leading Emirati and Indian companies.
Abdullah Sultan Al Owais stressed that the economic and trade relations between India and the UAE, particularly with Sharjah, are strong and growing, with both sides continuously seeking to expand cooperation and build sustainable partnerships. These efforts aim to enhance bilateral trade volume and mutual investments, moving towards broader horizons to serve common interests.
Al Owais revealed that the number of Indian companies established in Sharjah has reached an impressive count of 17,500. In 2022, Sharjah's exports to India amounted to approximately AED 2.8 billion, with re-exports standing at about AED 700 million and imports at around AED 2.5 billion. He voiced optimism that the forum would spur further development in joint cooperation and escalate the trade and investment exchange between the two countries.
Sudarsan Swamy, reciprocating the sentiment, thanked the Sharjah Chamber for organizing the forum, which he believes is pivotal in setting up fruitful investment partnerships with the UAE in key sectors such as energy, space, and information technology. He highlighted the robust economic relations between the two countries, with bilateral trade volume soaring to $85 billion in the 2022–2023 period. Swamy also pointed out the services and advantages that the Vizagapatam Chamber of Commerce and Industry provides to investors and businessmen, aiming to support and enhance these burgeoning economic connections.
The forum's agenda featured a series of side and bilateral business meetings between entrepreneurs as well as heads and managers of Emirati and Indian companies. These sessions aimed not only to explore investment opportunities and foster new communication channels but also to exchange insights and identify key opportunities in various sectors. The discussions also aimed to expand cooperative ventures and deliberate on the potential for launching joint initiatives that would benefit both parties.
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