SHARJAH: The Sharjah Chamber of Commerce and Industry (SCCI) has explored with an Indian delegation avenues for bolstering investment and fostering partnerships between the business communities of Sharjah and India.

During the “Sharjah-India Business Forum”, held at the SCCI headquarters, the Chamber urged Indian companies to leverage Sharjah’s attractive investment climate and the opportunities it presents across several key sectors.

The business forum shed light on the comprehensive economic partnership agreement between the UAE and India to expand cooperation, increase investments, and boost trade exchange volumes between the two nations.

Present at the meeting were Abdullah Sultan Al Owais, Chairman of the SCCI; Sudarsan Swamy, President of the Vizagapatam Chamber of Commerce and Industry and leader of the Indian delegation; Halima Humaid Ali Al Owais, SCCI Board Member; Mohammad Ahmed Amin Al Awadi, SCCI Director-General; Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector, and Jamal Saeed Buzangal, Director of the Media Department at the SCCI.

Also present were Lalo Samuel, Representative Committee Group Chairman for the industrial sector, and a crowd of businessmen from leading Emirati and Indian companies.

Al Owais stressed that the economic and trade relations between India and the UAE, particularly with Sharjah, are strong and growing, with both sides continuously seeking to expand cooperation and build sustainable partnerships. These efforts aim to enhance bilateral trade volume and mutual investments, moving towards broader horizons to serve common interests.

Al Owais revealed that the number of Indian companies established in Sharjah has reached an impressive 17,500. In 2022, Sharjah’s exports to India amounted to approximately AED2.8 billion, with re-exports at about AED700 million and imports at around AED2.5 billion. He voiced optimism that the forum would spur further development in cooperation and escalate the trade and investment exchange between the two countries.

Reciprocating the sentiment, Swamy thanked the Sharjah Chamber for organising the forum, which he believes is pivotal in setting up fruitful investment partnerships with the UAE in key sectors such as energy, space, and information technology. He highlighted the robust economic relations between the two countries, with bilateral trade volume soaring to US$85 billion in the 2022–2023 period. Swamy also pointed out the services and advantages that the Vizagapatam Chamber of Commerce and Industry provides to investors and businessmen, aiming to support and enhance these burgeoning economic connections.

The forum’s agenda featured a series of side and bilateral business meetings between entrepreneurs as well as heads and managers of Emirati and Indian companies. These sessions aimed not only to explore investment opportunities and foster new communication channels but also to exchange insights and identify key opportunities in various sectors. The discussions also aimed to expand cooperative ventures and deliberate on the potential for launching joint initiatives benefitting both parties.