DMCC Strengthens Bilateral Trade by Opening Representative Office in Mumbai.
A representative office for Dubai Multi Commodities Centre will open in Mumbai, India’s financial capital. This was announced as part of the DMCC’s successful Made for Trade live roadshow in India. During this event, the DMCC made stops in Mumbai, Surat, and Jaipur, as well as other Indian cities, to promote Dubai as a location where Indian businesses can expand internationally.
In collaboration with the Federation of Indian Chambers of Commerce & Industry (FICCI), the roadshow was held. The Dubai Multi Commodities Centre’s Executive Chairman and Chief Executive Officer, Ahmed Bin Sulayem, stated: In the eleven months following the implementation of the Comprehensive Economic Partnership Agreement (CEPA), bilateral trade between the UAE and India has reached historic levels, rising by 14% to $76.9 billion. “With more than 3,700 Indian organizations in our free zone, DMCC has been central in working with two-sided exchange and venture between the UAE and India. Opening a delegate office in Mumbai is the following significant stage in this relationship’s development, exhibiting our profound obligation to business in India and across the subcontinent.”
To make the new office possible, DMCC formed a partnership with the business services firm PP Shah and Associates. In support of the UAE-India CEPA that was signed last year, DMCC hopes to strengthen the UAE-India relationship through this. Siddharth Shah, a graduate of IIT Mumbai and Wharton Business School with 15 years of banking and consulting experience, is in charge of the representative office in Mumbai. All regulatory, compliance, and company registration solutions will be handled by the office, which will also provide customized license packages just for Indian businesses.
The representative office will help Indian businesses looking to expand through Dubai and establish a presence in DMCC by leveraging DMCC’s strong regulatory framework and reputation within Indian business circles.
During the roadshow, senior chiefs collaborated with more than 500 Indian government bodies and business pioneers from a scope of areas. The advantages of establishing a business in Dubai and the city’s unique business-friendly climate were the topics of discussion. PP Shah and Associates added in a statement: We will help Indian businesses succeed and bridge the gap between our nations through this partnership with DMCC. The DMCC is a one-of-a-kind ecosystem with competitive office spaces, a variety of facilities and services that make doing business easier for Indian entrepreneurs and large corporations alike, as well as confidence through robust regulations and frameworks.
