[ad_1]
Associated Chamber of Commerce and Industry of India (ASSOCHAM) and Coimbatore District Small Industries Association (Codissia) with “Sharjah Airport International Free Zone (SAIF) companies in the UAE and the benefits of doing business in SAIF district.
Raed Bukhatir, SAIF Regional Marketing and Commercial Relations Director, said Sharjah is an emerging trade hub that offers logistical advantages through combined land, sea and air transport. Businesses in Coimbatore can benefit from doing business in the SAIF district. “Nearly 60 percent of our investors in SAIF Zone are from India,” he said. SAIF zone offers zero tax, 100% ownership, preferential tariff rates and 100% import and export tax exemption. It also provides customized incentive packages for women entrepreneurs to start their business in the SAIF district.
Anoop Warrier from SAIF Zone said any company can open an office in SAIF Zone by paying a fee of less than Rs 3 lakh, which includes one year’s rent, electricity, water, all permits and a quota of three residency visas.
According to ASSOCHAM Southern Company Law Chairman KS Ravichandran, the recently signed CEPA with the UAE will reduce import duties on most of India’s exports to the country. The agreement will boost the country’s export trade in industries such as gems and jewellery, textiles, leather, footwear, sporting goods, engineered products and pharmaceuticals. Apart from opening up trade and investment channels between the UAE and India, the agreement will provide opportunities for Indian companies to make the UAE a gateway for their products and services into West Asia, Africa and Europe, he said.
Codissia president V. Thirugnanam said bilateral trade between India and the UAE is expected to exceed $60 billion this fiscal year. India is the UAE’s largest non-oil export trading partner, accounting for nearly 14% of the UAE’s non-oil exports. The recently signed India-UAE CEPA will pave the way for enhanced export growth to the region. Apart from textiles, Coimbatore also exports air compressors, food and jewellery to Sharjah.
[ad_2]
Source link