The Sharjah Investment and Development Authority has hosted a Sharjah-India Roundtable, which focused on how economic and commercial ties between the UAE and India have contributed to strength of a rapidly deepening bilateral relationship.
The Roundtable was held at the Dubai World Trade Centre on December 11 in collaboration with the Indian Business and Professional Council (IBPC).
The Sharjah Investment and Development Authority (Shurooq) organised the event in line with its strategy to promote the Gulf emirate as a leading business hub in the region.
The Roundtable focused on four key sectors identified as major areas of potential growth, namely travel and tourism, environment, healthcare, and transport and logistics.
"The Indian business community has consistently acted as positive drivers of business and commerce within our Emirate and there are many Indian companies whose regional and even international success stories started right here in Sharjah or the GCC," Shaikha Bodour bint Sultan Al Qasimi, Chairperson of the Shurooq, said.
Shurooq was established in 2009 with an aim to achieve social, cultural, environmental and economic development in Sharjah, one of the seven emirates of the UAE.
Paras Shahdadpuri, President of the IBPC, said Indian investors are looking for a "hassle free" environment.
"In Sharjah, thanks to forward thinking business legislation put in place by the Sharjah government, we are assured that our business and investment interests are being taken care of....The synergy that exists between Sharjah and India is clear and the Indian business community look forward to continue capitalising on this already strong and established relationship," he said.
Economic and commercial relations between the UAE and India continue to grow and have contributed to the stability and strength of a rapidly diversifying and deepening bilateral relationship.
Trade between the two countries, which was valued at USD 180 million per annum in the 1970s, is today is close to USD 75 billion, having increased by 4.16 per cent from the year before, according to the Directorate General of Commercial Intelligence and Statistics, Kolkata making the UAE, India's largest trading partner for the year 2012-13.
When looking at Sharjah specifically, a large number of Indian corporations are based in the emirate and there are 17,350 Indian companies registered in the Sharjah Chamber of Commerce and Industry.
