Sharjah keen to attract Indian investments

Source: Economic Times

Seeking to promote Sharjah as an investment hub, a business delegation from the emirate has held discussions with top Indian investors and industrialists.

The Sharjah Investment and Development Authority (Shurooq) successfully concluded its participation in the Trade Mission to India from December 15-18.

Shurooq’s participation comes in line with its strategy to highlight the business potential and investment opportunities in Sharjah, one of the seven monarchical emirates in the UAE.

“The four-day B2B event was an opportunity to introduce Sharjah’s portfolio of projects to Indian investors and keep the business community informed about the incentives that Sharjah has to offer,” Mohammed Juma Al Musharrakh, Head of Investment Promotion at Shurooq said.

“Our participation in the Trade Mission to India mainly aimed to promote Sharjah’s business potential and highlight the diverse range of promising business opportunities for investors,” he said.

He pointed out that the authority met a number of key business leaders in the Indian business community with the aim of attracting Indian investors as well as corporate and SME companies to Sharjah.

“The meetings were dedicated to strengthening the already close economic, cultural, and social ties the UAE is proud to have with India – a fact that is not surprising considering that over 42.5 per cent of the work force in the UAE are Indian nationals, constituting the largest residents community in the UAE,” Al Musharrakh said.

Shurooq held meetings with representatives of Exim Bank of India, the Bombay Chamber of Commerce, Taj Hotels Resorts and Palaces, Hinduja Group and the Indian Merchants Chamber, during which they explored new business opportunities and mutually beneficial and rewarding partnerships.

Shurooq also attended the Engineering Sourcing Show, India’s largest display of engineering products and services.

Bilateral trade between the UAE and India reached a record high of $75.4 billion during 2012-13. UAE exports to India totalled $39 billion, while imports stood at $36 billion, making the UAE India’s largest trading partner for the year.

 

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