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DP World recently hosted The India-UAE Bridge conference along with the Confederation of Indian Industry (CII) to showcase the role of Jebel Ali Port and Free Zone in boosting non-oil trade between the UAE and India to $100 billion over the next five years after the signing of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) in February this year. According to the Indian Ministry of Commerce and Industry, India’s non-oil trade with the UAE witnessed a 14% increase during the July-August 2022 period, after the CEPA came into force.
Robin Banerjee, vice chairman, CII Maharashtra State Council, CII, pointed out that, “The UAE has emerged as our third largest trade partner, with total non-oil bilateral trade valued at more than $72 billion. By collaborating with DP World, we want to capitalise on this success.”
DP World is supporting the Make in India initiative and Production Linked Incentive schemes to boost manufacturing, investments, and exports in India through its Jebel Ali hub, offering logistics and trade solutions and access to new markets. Indian companies at Jafza are the second largest group in terms of trade volume, generating 4.4 million tonnes, and fourth for trade value at US$6.5 billion.
Rizwan Soomar, chief executive officer and managing director, Subcontinent & Sub-Saharan Africa, said that DP World remains committed to encouraging the growth of bilateral trade between India and UAE through its logistics facilities and port capabilities. “The UAE is an excellent gateway for Indian exporters to have better access to markets and customers in Africa, the Middle East and Europe,” he observed. “With the CEPA now firmly in place, I am confident that bilateral trade will not only reach the $100 billion mark in the next five years but exceed it.”
