DMCC, the flagship free zone and Government of Dubai Authority on commodities trade and enterprise, has opened a representative office in Mumbai, India. The new office is part of DMCC’s ongoing commitment to strengthening trade ties between the UAE and India.
The office will be led by industry veteran Siddharth Shah, a graduate of IIT-Bombay and Wharton Business School with 15 years of banking and consulting experience. The office will handle all regulatory, compliance and company registration solutions for Indian businesses looking to set up in DMCC. It will also provide exclusively curated license packages for Indian businesses.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, “The opening of our representative office in Mumbai is a significant milestone in our journey to deepen our ties with India. India is a key strategic partner for DMCC and we are committed to supporting the growth of Indian businesses in Dubai and beyond.”
Bilateral trade between the UAE and India has reached historical levels, increasing by 14% to hit $76.9 billion in the 11 months after the implementation of the UAE-India Comprehensive Economic Partnership Agreement (CEPA). With over 3,700 Indian businesses in DMCC, the free zone has been fundamental in facilitating bilateral trade and investment between the two countries, it said.
Bin Sulayem added, “The opening of our representative office in Mumbai is the next pivotal step in this relationship’s evolution, demonstrating our deep commitment to business in India and across the subcontinent.”
The opening of the representative office follows DMCC’s successful Made for Trade Live trade roadshow in India in early May. The roadshow held in collaboration with the Federation of Indian Chambers of Commerce & Industry (FICCI), covered the Indian cities of Mumbai, Surat and Jaipur, and highlighted Dubai as a platform for Indian companies to expand internationally.
“We are confident that the opening of our representative office in Mumbai will further strengthen our ties with India and help us to attract even more Indian businesses to DMCC.”
DMCC is a leading global hub for trade and enterprise. The free zone has over 28,000 member companies from over 200 countries and territories.
The DMCC representative office in Mumbai will be led by industry veteran Siddharth Shah, a graduate of IIT-Bombay and Wharton Business School, with 15 years of banking and consulting experience. This office will handle all regulatory, compliance, and company registration solutions, providing specially tailored license packages for Indian businesses.
Recognizing the high strategic growth potential in India and the broader subcontinent, DMCC has been actively targeting multiple industry sectors in the region. Earlier this year, DMCC signed a Memorandum of Understanding with the Bharat Subcontinent Agri Foundation (BSAF) to advance the global agricultural (agri) commodities sector between the UAE and South Asia. This partnership aims to stimulate the growth of the global agri commodities sector and strengthen agri trade ties between the UAE and the subcontinent, facilitating collaboration in FoodTech and AgriTech projects, exchanging prospective business opportunities, and promoting knowledge transfer through exhibitions and conferences.
DMCC Announces Representative Office In Mumbai During Trade Roadshow To Boost UAE-India Relations
- DMCC to open a representative office in Mumbai to boost cooperation and trade and grow its 3,700 Indian member company base
- 500 Indian businesses briefed on Dubai’s unique business environment and DMCC’s leading position as an international trade hub during a roadshow in Mumbai, Surat, and Jaipur
- DMCC hosted the event in partnership with the Federation of Indian Chambers of Commerce & Industry (FICCI)
Dubai, UAE; 15 May 2023: DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has successfully concluded its Made For Trade Live trade roadshow last week in India. Throughout the roadshow, which covered the Indian cities of Mumbai, Surat and Jaipur, DMCC highlighted Dubai as a platform for Indian companies to expand internationally.
DMCC’s flagship announcement took place in the final Mumbai leg of the roadshow when it announced its partnership with business services firm PP Shah and Associates to open a representative office in Mumbai, India. Through the new office, DMCC aims to boost the relationship between the UAE and India in support of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) signed last year. Leveraging DMCC’s strong regulatory framework and reputation within Indian business circles, the representative office will provide a one-stop solution for Indian businesses looking to expand through Dubai and help them establish a presence in DMCC.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “Bilateral trade between UAE and India has reached historical levels, increasing by 14% to hit USD 76.9 billion in the 11 months after the implementation of CEPA. With over 3,700 Indian businesses in our free zone, DMCC has been fundamental in facilitating bilateral trade and investment between the UAE and India. Opening a representative office in Mumbai is the next pivotal step in this relationship’s evolution, demonstrating our deep commitment to business in India and across the subcontinent.”
Held in partnership with the Federation of Indian Chambers of Commerce & Industry (FICCI), the roadshow saw senior DMCC executives address 500 Indian government bodies and business leaders from a range of sectors. Conversations focused on Dubai’s unique, business-friendly environment and the host of benefits of setting up in DMCC.
PP Shah and Associates, said: “Through this partnership with DMCC, we will bridge the gap between our nations and further support the success of Indian businesses. DMCC offers a unique ecosystem that provides confidence through strong regulations and frameworks, cost benefits through competitive office spaces, and a range of facilities and services that increase the ease of doing business for Indian entrepreneurs and large companies alike. We look forward to facilitating the international expansion of a greater number of Indian businesses through this promotional Initiative, in turn helping them thrive in Dubai.”
DMCC’s representative office in Mumbai, India, is led by industry veteran Siddharth Shah, a graduate of IIT-Bombay and Wharton Business School with 15 years of banking and consulting experience. The office will handle all regulatory, compliance and company registration solutions and will provide exclusively curated license packages for Indian businesses.
India and the wider subcontinent have been earmarked as a region of high strategic growth for DMCC in multiple industry sectors. Earlier this year, DMCC and the Bharat Subcontinent Agri Foundation (BSAF) signed a Memorandum of Understanding to advance the global agricultural (agri) commodities sector between the UAE and South Asia. Targeting the growth of the global agri commodities sector and solidifying agri trade ties between the UAE, the MoU will see DMCC and BSAF partner in FoodTech and AgriTech projects, share prospective business opportunities and enhance knowledge transfer through exhibitions and conferences.