It was stated by the business body that the Dubai Chamber of Commerce and Industry was joined by more than two thousand Indian firms as the new members in the first half of this year, resulting in an increase of 18 percent as compared with the number of firms in the same period of last year.
The two thousand two hundred and eight firms which joined, accounted for 24.4 percent of the new member firms which registered during Jan and June 2019 with Dubai Chamber.
The total number of Indian members in the DCCI is 38,704.
It was stated by the Dubai Chamber of Commerce in a statement which was issued ahead of the Modi’s visit to the United Arab Emirates that over the same period, representative office of Dubai Chamber in Mumbai had a total of one hundred and twenty-four meetings with Indian investors who are keen to tap into the market of Dubai and enjoy the benefits of the emirate as a central hub for expanding their hold into the region.
India is so far the 2nd largest trading partner of Dubai with AED 116bn which is equivalent to 31.6 billion dollars’ worth of mutual non-oil trade in the previous year.
Currently, the bilateral trade is dominated by precious pearls and metals, base metals and mineral products.
According to the analysis done recently by the Dubai Chamber, there are numerous areas where the India can benefit from by boosting its exports to the United Arab Emirates, inclusive of the vehicles, electrical machinery, clothing accessories, apparel and pharmaceuticals.