Economy
2,2028 Indian companies join DCCI in first half of 2019
The Dubai Chamber of Commerce and Industry (DCCI) saw a marked 18% increase in new members with as many as 2,208 Indian companies joining the organisation in the first six months of 2019, according to latest figures released by DCCI, ahead of the Indian Prime Minister’s official visit to UAE on Friday.
READ:
Dubai’s DED adds 53 new business activities to key sectors during first half
The 18% increase compared to the same period last year highlights Dubai’s growing popularity as an investment destination. According to DCCI, Indian firms made up 24.4% of new members that register with them between January and June this year. This brings the total of Indian firms to 38, 704.
Speaking about the increase in Indian members, Hamad Buamim, President and CEO of DCCI, attributed the growth to important developments such as high-level visits, strategic agreements, increase in direct flights along with steady increase in bilateral trade and investment between India and UAE.
READ: Dubai FDI boosts economic & investment ties with India
India is Dubai’s second-largest trading partner with $31.6 billion (AED116 billion) worth of bilateral non-oil trade in 2018. Bilateral trade is currently dominated by precious metals and pearls, mineral products and base metals, with several more potential sectors where India can boost its exports to the UAE. These include pharmaceuticals, electrical machinery, vehicles, apparels and clothing accessories, a recent analysis noted.
-
OER Magazines1 month ago
OER, September 2024
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, September 24
-
Uncategorized4 weeks ago
Oman Oil Marketing Company partners with Ihsaan Association to support its activities
-
Commodities1 month ago
Gold Rangebound as Investors Brace for Key US Economic Data
-
Banking & Finance1 month ago
Apple Pay Officially Launched in Oman
-
Oil & Gas4 weeks ago
OQEP Appoints United Securities as Liquidity Provider Ahead of Landmark MSX Listing
-
Investment1 month ago
With Over RO600M in Foreign Investments, Future Fund Oman Unveils the First Batch of Investment Projects with an Overall Value of RO830M+
-
Lifestyle1 month ago
Royal Opera House Muscat Welcomes First Shows of its 2024/25 Season
You must be logged in to post a comment Login