SCCI highlights 30% growth in Indian investments

Abdallah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), affirmed that Sharjah holds a strategic position for Indian companies as a preferred investment destination, thanks to its fully integrated competitive advantages.He noted that Indian investors form a key component of Sharjah’s business landscape, with nearly 2,000 new Indian companies joining the Chamber in 2024. This growth brought the total number of Indian businesses operating in the emirate to around 20,000, reflecting a 30 percent increase compared to 2023. Furthermore, Sharjah’s export and re-export volume to India totaled approximately Dhs576 million, as documented through certificates of origin issued by the Chamber.

These remarks were made during the Sharjah-India Business Forum, which was organised by the Sharjah Chamber in Mumbai, the first stop of its trade mission to the Republic of India, led by the Sharjah Exports Development Centre (SEDC).

The delegation comprises 15 companies from Sharjah, representing a range of economic sectors.

This mission reflects SCCI’s commitment to supporting the expansion of the UAE companies and the private sector representatives into the Indian market, while also showcasing Sharjah’s diverse and high-potential investment opportunities to Indian counterparts.

The forum was attended by Abdallah Sultan Al Owais, Chairman of SCCI; Waleed AbdelRahman BuKhatir, Second Vice Chairman of SCCI; and Jamal Mohamed Sultan Binhuwaidin, SCCI Board Member.

Also present were Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI; Ali Abdullah Al Jari, Director of the Sharjah Export Development Centre; Jamal Saeed Bouzanjal, Director of Corporate Communication at SCCI; and Abdulrahman Saeed Al Suwaidi, Director of Supply Chain and Government Affairs at Bee’ah Group, along with SCCI staff, business leaders, CEOs, and executives from industrial, manufacturing, and export companies operating in Sharjah.

During the forum, the Sharjah Chamber’s delegation explored ways to strengthen economic and trade cooperation between Sharjah and India, with a focus on partnership prospects in priority sectors.

The program featured a range of business meetings and B2B engagements between companies from both sides, aimed at exploring cooperation opportunities, forging agreements, and forming strategic investment partnerships to drive bilateral trade growth.

In his keynote speech, Abdallah Sultan Al Owais expressed his gratitude to the Indian side for their warm welcome and generous hospitality. He emphasised the deep-rooted relations between the UAE and India, noting that that both economies are among the fastest growing in the world, which signals strong prospects for expanding economic opportunities in the coming period.

He highlighted the remarkable growth in the two countries’ economic partnership, with the UAE ranking as India’s third-largest global trading partner in 2024. The volume of non-oil trade between the UAE and India exceeded AED240 billion in 2024, marking a 20.5% increase from AED199.3 billion in 2023. This sustained growth reflects the robust momentum and strategic depth of the bilateral trade ties between the two nations.

"Mumbai boasts a strong economic foundation rooted in financial services, information technology, trade, and maritime shipping. It stands out as a strategic gateway for UAE businesses to explore and capitalise on high-potential investment opportunities across these vital sectors. This forum represents a key milestone in advancing bilateral business collaboration and enhancing joint efforts to grow trade and investment volumes,” Al Owais added.

He noted that this collaboration will further strengthen the economic ties between the UAE and India, marking a significant stride toward fulfilling the objectives of the Comprehensive Economic Partnership Agreement (CEPA), which aims to increase mutual investment and trade flows and raise non-oil bilateral trade to $100 billion by 2030.

Ali Abdullah Al Jari delivered a comprehensive presentation highlighting the key investment advantages offered by Sharjah. He outlined the emirate’s diverse economic landscape, its advanced infrastructure, vital industrial and commercial zones, and world-class logistical facilities.

He also underscored the Emirate’s investor-friendly legal framework, which facilitates business growth and encourages foreign direct investment. The presentation highlighted the Sharjah Chamber’s initiatives to support investor engagement through its structured network of business councils.

As part of its ongoing visit to India, which will continue until July 11, the delegation will head to Ahmedabad for the second leg of its tour. The agenda includes a dedicated business forum involving meetings with key representatives from Indian chambers of commerce and industry.

The programme will also feature various business forums and meetings between Emirati and Indian business communities, aimed at exploring investment prospects and establishing joint economic partnerships.

WAM