Mumbai: Abdallah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), affirmed that Sharjah holds a strategic position for Indian companies as a preferred investment destination, thanks to its fully integrated competitive advantages.
According to Emirates News Agency, Indian investors form a key component of Sharjah's business landscape, with nearly 2,000 new Indian companies joining the Chamber in 2024. This growth brought the total number of Indian businesses operating in the emirate to around 20,000, reflecting a 30 percent increase compared to 2023. Furthermore, Sharjah's export and re-export volume to India totaled approximately AED576 million, as documented through certificates of origin issued by the Chamber.
These remarks were made during the Sharjah-India Business Forum, organized by the Sharjah Chamber in Mumbai, as the first stop of its trade mission to India, led by the Sharjah Exports Development Centre (SEDC). The delegation comprises 15 companies from Sharjah, representing a range of economic sectors.
This mission reflects SCCI's commitment to supporting the expansion of UAE companies and the private sector representatives into the Indian market, while also showcasing Sharjah's diverse and high-potential investment opportunities to Indian counterparts. The forum was attended by key figures from the SCCI, including Waleed AbdelRahman BuKhatir, Second Vice Chairman, and Jamal Mohamed Sultan Binhuwaidin, Board Member, among others.
During the forum, the Sharjah Chamber's delegation explored ways to strengthen economic and trade cooperation between Sharjah and India, focusing on partnership prospects in priority sectors. The program featured various business meetings and B2B engagements aimed at exploring cooperation opportunities, forging agreements, and forming strategic investment partnerships to drive bilateral trade growth.
In his keynote speech, Abdallah Sultan Al Owais expressed gratitude for the Indian side's warm welcome and emphasized the deep-rooted relations between the UAE and India. He highlighted the remarkable growth in the two countries' economic partnership, with the UAE ranking as India's third-largest global trading partner in 2024. The volume of non-oil trade between the UAE and India exceeded AED240 billion in 2024, marking a 20.5% increase from AED199.3 billion in 2023.
Al Owais noted that this collaboration will further strengthen the economic ties between the UAE and India, marking a significant stride toward fulfilling the objectives of the Comprehensive Economic Partnership Agreement (CEPA), which aims to increase mutual investment and trade flows and raise non-oil bilateral trade to $100 billion by 2030.
Ali Abdullah Al Jari delivered a comprehensive presentation highlighting the key investment advantages offered by Sharjah. He outlined the emirate's diverse economic landscape, its advanced infrastructure, vital industrial and commercial zones, and world-class logistical facilities. The presentation highlighted the Sharjah Chamber's initiatives to support investor engagement through its structured network of business councils.
As part of its ongoing visit to India, which will continue until July 11, the delegation will head to Ahmedabad for the second leg of its tour. The agenda includes a dedicated business forum involving meetings with key representatives from Indian chambers of commerce and industry, as well as various business forums and meetings between Emirati and Indian business communities aimed at exploring investment prospects and establishing joint economic partnerships.