India and UAE launch a new chapter of Business Council
India and UAE launch a chapter of the Business Council (UIBC-UC). Both, India and the UAE are celebrating the 1st anniversary of the comprehensive economic partnership agreement which was signed on February 18, 2022. as a part of their continued efforts to boost bilateral trade the UAE India Business Council was launched on February 18, 2023. India and the UAE are focusing on increasing bilateral trade to a total of $100 billion (about $310 per person in the US). The council is also keen and interested in investing $75 billion (about $230 per person in the US) from the UAE to India.
The KEF holdings chairman Faizal Kottikollon, the appointed chairman of the UAE – India Business Council said that the council is particularly interested in helping India with investments in large infrastructure related projects, and advancement in manufacturing and technology as well as providing Indian manufacturers with the ability to use the UAE as a place for global expansion.
Importance of the Council
India and the UAE have shared a wonderful relationship for a very long time. The council wants to use this to its benefit. With the help of the strong bond between the two nations the council wants to bring together key partners as well as stakeholders from both nations who will serve as valuable resources of policy guidance. They will also foster innovative collaborations between the Indian businesses and the Emirati. India and UAE launch new chapter of the Business Council for the main purpose off boosting and improving bilateral trade between India and the UAE as well as supporting Indian business owners by helping them establish their businesses.
The UIBC-UC will operate under the supervision of the federation of the UAE chambers of Commerce and Industry which has also been registered as a legal and financial provision with the Dubai Chamber of Commerce.
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