UAE and India launch the UAE Chapter of the Business Council
Tags: International News
The UAE and India launched the UAE India Business Council - UAE Chapter (UIBCUC) on 18 February to strengthen economic ties and enhance bilateral trade and investment.
An overview of the news
It was launched by Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade in Dubai.
One year of signing of the India-UAE comprehensive free trade agreement, completed.
The UIBCUC aims to increase bilateral trade to $100 billion and attract investments of $75 billion from the UAE to India.
The council will bring together key partners and stakeholders from both countries and encourage innovative collaboration between Emirati and Indian businesses.
The Council will play a key role in supporting the two governments in their joint mission to promote bilateral trade and investment.
It will operate under the supervision of the Federation of UAE Chambers of Commerce and Industry.
It is registered with the Dubai Chamber of Commerce as a legal and financial entity.
UIBC-UC will have its office in Dubai.
Faizal Kottikollon of Kef Holdings has been appointed as the Chairman of UIBC-UC.
Major General (Retd.) Sharafuddin Sharaf, the Chairman of the UIBC (India Chapter), will serve as the Vice Chairman.
Key partners and stakeholders
Sovereign Wealth Funds from the UAE and large conglomerates from India such as - TATA group, Reliance, and Adani, as well as tech innovators like OLA, Zerodha, and EaseMyTrip.
The founding members of the UIBC-UC from the UAE side
Mubadala - Sovereign Wealth Fund of the UAE, Wizz Financial, DP World, EMAAR, Emirates Airlines, Emirates NBD Bank.
The founding members of the UIBC-UC from Indian side
TATA, Reliance, and Adani, OLA, Zerodha, Udaan, and EaseMyTrip.
Prominent Indian entrepreneur-led corporations based in the UAE such as KEF Holdings, Buimark Corporation, Apparel Group, EFS and Lulu Financial.
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