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DMCC to boost trade ties between UAE and India

DMCC to boost trade ties between UAE and India

DMCC, the global gateway for commodity trade and enterprise in Dubai and the region, welcomed a high-ranking delegation from Madhya Pradesh, a state in central India, to Almas Tower.

The visit aimed to strengthen trading ties and international relations between the UAE and India and explore mutual co-operation opportunities.

Shivraj Singh Chauhan, Chief Minister of Madhya Pradesh (MP) and leader of the delegation, Yashodhara Raje Scindia, Minister of Industries and Commerce, MP, and Umashanker Gupta, Minister of HRD, MP, toured DMCC’s facilities and met with senior management including Gautam Sashittal, CEO of DMCC and Krysta Fox, Director — Free Zone.

Gautam Sashittal said: “The UAE and India have enjoyed strong trading relations for many years and, as these relations continue to evolve, we see the commodities market trade grow and mature at an unrivalled pace, thanks to the strong collaboration between Dubai and states such as Madhya Pradesh. We look forward to further collaboration with Madhya Pradesh and to explore the opportunities awaiting both parties as we continue to position Dubai as the global hub for commodities trade.”

Shivraj Singh Chauhan added: “Our visit to DMCC was both informative and enjoyable, and we appreciate the warm hospitality extended to us. Madhya Pradesh, like Dubai, is an ideal location for trade with many incentives and advantages making it attractive for investment, including ready availability of land and surplus of power.” In 2013, India was once again Dubai’s biggest trading partner with the two-way trade hitting Dhs137 billion, representing 10 per cent share of the UAE’s overall trade.

The UAE and India have enjoyed longstanding trade relations beginning with the barter of pearls for cotton; and dry fruits for grains, and growing and diversifying into jewellery, diamond, precious stones and bullion trade.