The UAE’s ambitious Industrial Vision, which targets raising the industrial sector’s contribution to the national GDP to AED 300 billion by 2031, has received a major uplift through a $10 billion (AED 36.7 billion) investment by Indian multinational Rana Group. This strategic investment aims to develop 150 advanced manufacturing facilities in Ras Al Khaimah.

Under its initiative, the Rana Group has launched the Erisha Smart Manufacturing Hub in the Al Ghail Industrial Area, set to be completed over the next five years. The project officially commenced with a ground-breaking ceremony and follows the Group’s agreement with Ras Al Khaimah Economic Zone (RAKEZ) for acquiring the necessary licenses and land for the development.

Once operational, the manufacturing units are projected to collectively generate up to $6 billion (AED 22 billion) in annual sales turnover. This will significantly enhance the UAE’s industrial output, boost exports, and support the nation’s transition from an import-dependent economy to a robust, export-oriented manufacturing hub.

This initiative represents the largest single investment by an Indian conglomerate in the UAE’s manufacturing sector to date. It also reinforces the strengthening Indo-UAE economic partnership—coming three and a half years after the signing of the Comprehensive Economic Partnership Agreement (CEPA) in 2022, which has bolstered cross-border trade and investment.

The development aligns with the UAE's broader Operation 300Bn strategy, which aims to position the country as a global industrial powerhouse. The strategy focuses on leveraging Fourth Industrial Revolution (4IR) technologies, advancing the ‘Make it in the Emirates’ campaign, and boosting In-Country Value (ICV), while promoting sustainability, economic diversification, and job creation.

Spanning 335 acres, the Erisha Smart Manufacturing Hub will not only accommodate industrial units but also include supporting infrastructure such as hospitals, medical colleges, shopping complexes, hypermarkets, warehouses, office spaces, community centers, banks, and financial institutions. It is expected to contribute an estimated $5–6 billion to the UAE’s GDP and create approximately 4,000 jobs in Ras Al Khaimah.

Commenting on the launch, Dr. Darshan Rana, Chairman and Managing Director of Erisha E Mobility, said:

“We are excited to begin work on the Erisha Smart Manufacturing Hub. This project represents a major step toward sustainable industrialization and will support the UAE’s net-zero goals. We aim to drive innovation, lead the green energy transition, and establish a self-reliant industrial base.”

Dr. Rana added that more than half of the 150 planned industries will be directly owned and managed by the Group. While some units are expected to start production within a year, full project completion is anticipated within five years.

Several firms have been brought on board to deliver this ambitious project. Capital Engineering Design and Engineering Consultants will oversee the industrial design, while GHV Infra serves as the Engineering, Procurement, and Construction (EPC) contractor. N3XUS has been appointed to ensure compliance with environmental, sustainability, and governance (ESG) standards as well as alignment with Sustainable Development Goals (SDGs). Meanwhile, AINS Group will provide architectural and project management consultancy services.

This development also supports the regional expansion of Erisha E Mobility, the Rana Group’s electric vehicle subsidiary, into the Middle East and Africa—while reinforcing its business operations in India.

According to a business analyst, this strategic move could also have geopolitical and trade implications: “By shifting manufacturing to the UAE, Rana Group could make its products more competitive in the US market, especially given the 50% import duties on Indian goods. If the US doesn’t adjust these tariffs, more Indian companies may follow suit—making the UAE, with its strong connectivity and business infrastructure, a manufacturing alternative.”

With world-class logistics, infrastructure, and an investor-friendly ecosystem, RAKEZ offers the ideal environment for Rana Group’s expansion. The Erisha Smart Manufacturing Hub is set to become a key driver of innovation, sustainability, and economic growth in the region and beyond.