UAE Emerges as Top Investment Hub 15,000 Indian Firms in Dubai

19 Mar, 2024

UAE Emerges as Top Investment Hub 15,000 Indian Firms in Dubai

Indian companies are increasingly drawn to Dubai, as evidenced by the substantial influx of 15,481 new Indian-owned businesses joining the Dubai Chamber of Commerce in 2023. This remarkable surge reflects a notable 38% year-over-year increase, reinforcing Dubai's status as a premier destination for Indian investors. This analysis, conducted by the Dubai Chamber of Commerce itself, underscores the robust relationship between the UAE and India.

This development coincides with the implementation of the India-UAE Comprehensive Economic Partnership Agreement (CEPA), effective from April 2022, aimed at catalyzing trade and investment between the two countries.

The CEPA has streamlined procedures, slashed tariffs, and fostered a more conducive business environment on both ends. Since the CEPA's signing, non-oil bilateral trade between India and the UAE has soared to over $50 billion, with aspirations to reach nearly $100 billion by the decade's end.

The bulk of new companies registering with Dubai Chamber of Commerce in 2023 operate within the wholesale and retail trade of motor vehicle repair sector, constituting 44.2% of new memberships. Following closely are companies from the real estate, rental, and business activities sector, comprising 32% of the total. With the CEPA in force and a record number of Indian companies joining the Dubai Chamber, prospects for India-UAE economic collaboration appear promising.

Dubai Chambers, a non-profit public entity, champions Dubai's global aspirations at empowering businesses, offering innovative value-added services, facilitating access a influential networks.