Sharjah Chamber And Indian Business Council Explore Strategies For Private Sector Cooperation

The Sharjah Chamber of Commerce and Industry (SCCI) has reaffirmed the strong ties between Sharjah's business community and India. This relationship is built on a longstanding friendship between the UAE and India. SCCI is committed to boosting cooperation and forming strategic partnerships within the private sectors of both nations, aiming for a sustainable economic framework.

During a business meeting at the Sharjah Old Cars Club, SCCI celebrated India's 79th Independence Day. Key attendees included Abdallah Sultan Al Owais, Chairman of SCCI; Satish Kumar Sivan, Consul General of India to Dubai and the Northern Emirates; Mohammad Ahmed Amin Al Awadi, Director-General of SCCI; and Lalu Samuel, Chairman of the Founding Committee of the Indian Business and Professional Council.

Abdallah Al Owais highlighted that the UAE-India Comprehensive Economic Partnership Agreement (CEPA) has led to significant trade growth. Non-oil trade between the two countries exceeded AED 240 billion by 2024, showing a 20.5% increase. The UAE's non-oil exports to India also rose by 75.2%, making India the top global export destination for the UAE.

Al Owais also noted that Sharjah's trade missions to India have opened new opportunities for local businesses. These efforts have resulted in over 20,000 Indian companies registering with SCCI, including nearly 2,000 new registrations in just one year. Sharjah has become a vibrant trade hub with exports and re-exports to India valued at around AED576 million in 2024.

Satish Kumar Sivan expressed gratitude to SCCI for organising the meeting, which highlights the depth of bilateral relations between India and the UAE. "We believe in the boundless potential to expand trade and investment between the two countries," he said. He praised Sharjah’s dynamic ecosystem as a model for cooperation, offering new growth paths for Indian companies.

Lalu Samuel applauded SCCI's efforts in supporting economic collaboration with India. He stated that celebrating India's Independence Day reflects strong ties between Indian and Sharjah business sectors. With more than 20,000 Indian companies in Sharjah, it strengthens its position as a global hub for innovation and investment.

Opportunities for Growth

The meeting featured a presentation on regulatory benefits and infrastructure support that Sharjah offers to Indian businesses. It focused on high-potential sectors like energy, manufacturing, logistics, and maritime industries. The presentation also showcased achievements by the Indian Business and Professional Council in advancing trade cooperation between both communities.

SCCI's commitment is driven by visionary leadership from both countries and successful business communities leveraging opportunities under CEPA. This partnership aims to create an integrated economic framework benefiting both nations' private sectors.

With inputs from WAM