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Sunday, September 24, 2023

DMCC Announces Opening of Representative Office in Mumbai


DMCC, the global flagship free zone and the Dubai government’s authority for commodity trade and enterprise, announces the opening of a representative office in Mumbai, India, in partnership with business services firm PP Shah and Associates

The announcement came on the last leg of the Made For Trade Live trade roadshow in India last week in Mumbai. In a roadshow covering Indian cities such as Mumbai, Surat and Jaipur, DMCC highlighted Dubai as a platform for Indian companies to expand internationally.

Through the new office, DMCC aims to promote relations between the UAE and India in support of the UAE-India Comprehensive Economic Partnership Agreement (CEPA), which was signed last year.

With DMCC’s strong regulatory framework and reputation in the Indian business community, the representative office will provide a one-stop solution for Indian businesses looking to expand through Dubai to help them establish their presence in DMCC.

Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, said: “In the 11 months since the implementation of CEPA, bilateral trade between the UAE and India has reached an all-time high, growing by 14% to $76.9 billion. DMCC in our The free zone is home to more than 3,700 Indian businesses and plays an important role in facilitating bilateral trade and investment between the UAE and India. Opening a representative office in Mumbai is the next critical step in the development of this relationship, demonstrating our commitment to India and the wider Strong commitment to the subcontinent business.”

Organized in partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI), the roadshow saw DMCC’s senior executives address 500 Indian government agencies and business leaders from various industries. The conversation focused on Dubai’s unique business-friendly environment and the many advantages of setting up at DMCC.

PP Shah and Associates said: “By partnering with DMCC, we will further support the success of Indian businesses by bridging the gap between the two countries. DMCC provides a unique ecosystem that provides confidence through strong regulations and Competitive office space brings cost-effectiveness, and a range of facilities and services that increase the ease of doing business for Indian entrepreneurs and large corporations alike.

“We look forward to facilitating the international expansion of more Indian businesses through this promotion, which in turn will help them thrive in Dubai.”

DMCC’s representative office in Mumbai, India is led by industry veteran Siddharth Shah, an IIT-Bombay and Wharton graduate with 15 years of banking and consulting experience. The office will handle all regulatory, compliance and company registration solutions and will provide specially curated license packages for Indian businesses.

India and the wider subcontinent have been designated as high strategic growth regions for DMCC across several industry sectors. Earlier this year, DMCC and the Bharat Subcontinent Agri Foundation (BSAF) signed a Memorandum of Understanding to advance the global agricultural (agri) commodity sector between the UAE and South Asia.

Targeting the growth of the global agrifood industry and consolidating agricultural trade relations between the UAE, the MoU will see DMCC and BSAF become partners in FoodTech and AgriTech projects, share potential business opportunities and enhance knowledge transfer through exhibitions and conferences. – trade arab news agency


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