Dubai: There has been an 18 per cent surge in Indian businesses signing up to be members of Dubai Chamber of Commerce and Industry in the first six months of the year. In all, a further 2,208 Indian-owned firms took up membership.
With the latest additions, Indian firms now account for 24.4 per cent of new member companies registered between January and June, bringing the total number of Indian members to 38,704. Over the same period, Dubai Chamber’s representative office in Mumbai held 124 meetings with investors in India keen to enter the Dubai market.
India remains Dubai’s second-largest trading partner with Dh116 billion worth of bilateral non-oil trade in 2018. Bilateral trade is currently dominated by precious metals and pearls, mineral products and base metals.
Recent Dubai Chamber analysis suggests that there are other areas “where India can potentially boost its exports to the UAE, including pharmaceuticals, electrical machinery, vehicles, apparel and clothing accessories”.