Dubai’s Jebel Ali Port And Free Trade Zone A Magnet For Indian Investors
Dubai aims to assist India’s ‘Make in India’ programme by encouraging Indian exports worldwide
Dubai’s Jebel Ali Port (Jafza) and Free Trade Zone have critical roles to play in boosting UAE-India trade volumes to US$100 billion over the next five years, said the Port operator, DP World in a statement yesterday (Wednesday, October 19).
In 2021, Dubai accounted for 86% (US$38.4 billion) of the total US$44.8 billion worth of non-oil trade between the United Arab Emirates (UAE) and India. Indian companies located at Jafza are the second largest partners in terms of trade volume (4.4 million metric tonne) and fourth for trade value (US$6.5 billion).
2022 however should boost this still further – The Dubai-India Comprehensive Economic Partnership Agreement (CEPA) came into force on 1 May, eliminating duties on more than 10,000 products and services delivered by companies in the two countries.
India’s Ministry of Commerce and Industry, stated that India’s non-oil trade with the UAE witnessed “A 14% increase during July-August 2022 period, just months after the CEPA came into force.”
DP World is continuing to invest in the Jafza facilities. Through its alliance with India’s National Investment and Infrastructure Fund (NIIF), the operator will invest up to US$3 billion to create ‘world-leading’ integrated logistics infrastructure in the Port.
India and the UAE have shared a close relationship for many years. In alignment with the UAE government’s strategy, Dubai is aiming to drive India’s ‘Make in India’ initiative, while helping Dubai itself retain and develop its position as a leading trade hub as India’s gateway to newer, larger markets. That is being organised under the ‘India-UAE Bridge’, an initiative that will integrate the national assets and capabilities to enhance trade values for both nations.
Dubai’s key assets in this regard include maritime terminals, rail-linked private freight terminals, free trade zones and others, all geared to support the growing trade needs of the industry. The UAE is an excellent gateway for Indian exporters to have better access to markets and customers in Africa, the Middle East and Europe.
The Jebel Ali Port and Jebel Ali Free Zone (Jafza), is very much part of this, forming a world-class, integrated ecosystem for over 9,000 global companies, serving a market reach of over 3.5 billion people, and connecting directly to 150 ports and over 180 shipping lanes.
Indian companies interested in investing in Dubai may contact Rohit Kapur at Dezan Shira & Associates at email@example.com
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