UAE-based global trade enabler DP World today said trade between its subsidiary Jebel Ali Freezone (Jafza) and India reached USD 3.4 billion in 2017.
Latest figures from Jafza show that over 788 Indian companies are trading from the freezone serving key markets in the region and building on historical ties that date back to 1985 when it first opened, the company said in a statement.
"Trade between Jafza and India reached new record worth over USD 3.4 billion in 2017," said DP World, which has extensive business interests in India, including six container terminals, Inland Container Depots (ICD), warehouses and container rail freight services.
Earlier this year it formed a strategic partnership with the National Investment and Infrastructure Fund (NIIF) to invest up to USD 3 billion in brownfield container terminals, long term greenfield container concessions, Inland Container Depots (ICDs) and expansion of existing inter-modal rail services for rolling stock.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: "The UAE and India have an enduring relationship and we are building firm foundations for the future. DP World has been a part of India's amazing economic growth for nearly two decades and we are reinforcing our commitment...For almost 40 years Jebel Ali Port has played a pivotal role in supporting India's trade with its global connectivity and world class facilities. India is our most important market."
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