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Sat, Nov 30, 2024 | Jumada al-Awwal 28, 1446 | DXB
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India-UAE Trade Opens Up Multiple Opportunities in Both Markets
Conares has maintained a buoyant trajectory for three decades of its operations, helping it achieve significant growth milestones in the industry
Bharat Bhatia with Indian Prime Minister Narendra Modi
The Indian community has immensely contributed towards the progress and prosperity of the UAE, says Bharat Bhatia, Chairman and CEO of Conares, the second largest private steel manufacturer in the UAE, on the auspicious occasion of India’s 77th Independence Day, being celebrated with great patriotic spirit.
Bharat Bhatia, Chairman and CEO, Conares
He believes that strategic dialogue is a very important element in enhancing relationship between the two countries. The UAE has raised its investment profile in India, and cooperation has increased on security related matters. Bhatia has been residing in the UAE for four decades and is thankful to the Government of the UAE and Government of Dubai for their constant support and trust in the industrial sector.
Conares is the only private and one of the largest steel manufacturers in the UAE and the leading producer of steel pipes and tubes, rebars, flat steel colour-coated lines in the region with a capacity to manufacture 1.5 million tonnes of steel products annually to meet the growing demand for steel from the region’s infrastructure development sector. The company is also amongst the top three steel rebar mills operating 24x7 to serve the upcoming projects in the UAE.
According to Bhatia, India is currently one of the largest trade partners of the UAE with increasing total exports and UAE re-exports making India the largest non-oil market for the UAE. “With enhanced bilateral trades, especially post the CEPA agreement, new markets have been opened up to UAE businesses and the Indian markets bear major growth opportunities for various sectors. The UAE also continues to strengthen its position as a global hub for investment and trade with various new initiatives that facilitate trade and reduce costs and requirements, thereby ensuring ease of doing business.”
“The Indian government has put a particular focus on the steel trade between the two countries. This has created various investment opportunities and growth prospects for steel manufacturers in the UAE and India given that steel is among the most exchanged commodities between the two sides. With India projected to become the third-largest economy in the world over the next few years, opportunities for UAE steel manufacturers will continue to grow exponentially,” he said.
Conares has constantly been evolving with the region. “The company’s growth has remained on a buoyant trajectory for three decades of its operations, helping it achieve significant growth milestones in the industry. The company also runs a state-of-the-art 12’’ pipe mill in Jebel Ali Free Zone. As the Middle East focuses on development, Conares serves as the perfect partner to meet the growing industry requirements for steel rebars and pipes.”
From its central location in Dubai, Conares serves an extensive network of clientele including pre-engineering companies, steel trading companies and construction majors in the Middle East and wider markets in different parts of the world. Conares is in the process of developing new markets for its products.
— kushmita@khaleejtimes.com
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