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Jafza reports 10% growth in the number of Indian companies

posted on 17/12/2015: 1465 views



Jebel Ali Free Zone, Jafza, has conducted a 4-day roadshow, which also included an investor seminar, in Mumbai, as part of its initiative to attract more Indian multinationals into the free zone.

Jafza is currently home to over 800 leading Indian companies who are serving all key markets in the region from their base in the free zone. The number of Indian companies in the free zone in 2014 posted a growth of 10%.

During the roadshow, the Jafza team was led by Ibrahim Mohamed Al Janahi, Deputy CEO of Jafza and Chief Commercial Officer of Economic Zones World, the parent company of the free zone. It included senior officials from sales, marketing and communications departments, Bharat Bhatia, CEO of Jafza-based leading steel company, and Kulwant Singh, President of the India Business Council in Dubai.

Sultan Ahmed bin Sulayem, Chairman of DP World and Ports, Customs and Free Zone Corporation, commenting on the roadshow, said, "UAE and India enjoy a very strong bond of friendship which is founded on centuries old cultural and economic interaction between the two regions. The evolution of Dubai as a regional trading hub in the 1990s provided a major boost to bilateral trade relations between India and the UAE. Today, India is the UAE's largest trading partner. Jafza, which is home to more than 800 top India multinationals, has played a key role in strengthening trade relations between the two countries. The Jafza roadshow in India seeks to attract more leading Indian companies to the Free Zone, which will, eventually, further enhance bilateral relations between the two countries."

Commenting on the opportunities for Indian investors, bin Sulayem added, "Most of the countries in the Middle East region are currently focused on diversifying their economies in order to reduce their dependence on oil. These countries are estimated to be spending more than US$4 trillion in developing economic infrastructure suitable for nurturing non-oil business activities. The investment will not only boost construction and engineering but all other economic sectors right from food and beverage, healthcare, education, transport, communication, hospitality and everything in between.

"Expo 2020, the world's third largest global event after Olympics and the World Cup, in Dubai, will provide a further boost to infrastructure related activities in Dubai and other emirates in the UAE, as well as neighbouring countries who will be benefitted from over 25 million overseas visitors that are expected to visit Dubai during the 6-month show. This unveils huge opportunities for Indian investors, which must be capitalised on."

Jafza-India non-oil trade has tripled in the last ten years to reach almost US$4 billion in 2014. During the 4-day roadshow, Jafza officials had several scheduled meetings with Indian businesses. Jafza expects to attract a significant number of new Indian companies from the roadshow. – Emirates News Agency, WAM - http://www.wam.ae/en/news/economics/1395289292569.html

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