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Dubai Airport Freezone Authority seeks to draw Indian investors

dubai - Indian companies now account for 34 per cent of Asian companies in Dafza

The Dubai Airport Freezone Authority (Dafza) has organised a special forum for Indian businesses under the theme 'India: A strategic partner for growth in an evolving global economy' in the presence of Dr Mohammed Al Zarooni, director-general of Dafza; Vipul, Indian Consul-General in Dubai; Bindu Chettur, president, Indian Business Professional Council - Dubai; and board members of the IBPC; and representatives of government agencies and leading Indian companies.

The event was held at the Dafza Business Centre in cooperation with IBPC - Dubai and Morrison Menon. It complements India's investment drive and is expected to attract more new investors to Dubai as a regional hub for their business in the Middle East, in line with Dubai Plan 2021's goal of making the emirate a global investment hub.

The forum forms part of Dafza's efforts to provide an ideal working environment supported by advanced infrastructure for the benefit of the freezone's partners. It also supports the new era of cooperation between India and the UAE.

The event was launched by Dr Al Zarooni who said: "Dafza always strives to be a pioneer in supporting the country's growth and attracting more investments. Dafza works with a united team to expand our initiatives and provide the best solutions and facilities to attract more investments and maintain our strong relationship with the Indian business community, which reflects positively on the economic growth between the UAE and India."

Vipul said: "Today, we have achieved key figures in trade for the two countries, reaching $50 billion in 2016, which is expected to grow by 60 per cent in the next three years, especially across strategic segments like technology, energy, the digital economy and smart services. India is working hard to provide more services and expertise to attract more UAE investments and facilitate knowledge exchange in various fields."

Chettur said: "Today, India is known as one of the world's largest economies and is forecasted to be ranked fifth in the world by the year 2025 in terms of large economy and rapid growth. The country is currently undergoing efforts to further develop its infrastructure of roads and transportation while also reinforcing its presence in digital economy and electronic commerce. Our cooperation with the UAE in general and Dubai in particular, remain highly important in terms of innovation and the use of modern technology. In addition, the ties between India and the UAE should further be strengthened across other key industries like health, food safety and the move to increase mutual investments."

Indian companies now account for 34 per cent of the total number of Asian companies based in Dafza.

For this year, the freezone ranks the IT, Internet and telecommunications sectors first among its fastest-growing serviced sectors involving Indian companies. Electronics places second, with jewellery, watches and precious stones tied at third. Among the most prominent Indian companies are Tech Mahindra, Tally, Mind Tree, Godrej, Kalyan Jewelers FZE, Chemmanur Gold Palace International FZCO, Himalaya Drug Company FZCO and Tata Motors.

- business@khaleejtimes.com