UAE freezone sees 3-fold rise in Indian cos in 10 yrs

DUBAI: The number of Indian companies in UAE's Jabel Ali Free Zone (Jafza) has almost tripled in the last 10 years, growing to 698 in 2012 from 236 in 2002.

This makes India the Free Zone's one of the most important trading partners and leads global business community here, Jafza said.

Jafza and India have had strong business ties that go back to 1985, the year when Jebel Ali Free Zone became operational. With new investments this bond continues to grow stronger, it said in a statement.

Indian companies in Jafza generated trade worth 12.25 billion dirhams (Rs 18,093.25 crore) in 2011, it added.

The volume of trade between Jafza and India continues to grow at a robust pace, but huge opportunities are available for Indian companies in the region which needs to be exploited.

Keeping this in view, Jafza has organised a Jafza-India Roadshow March 11-12 in Delhi, which includes a first ever Business Seminar today and a three-day Roadshow, March 13-15, in Mumbai, the statement said.

Jafza's first ever Business Seminar, organised in collaboration with Jafza's India Representative M S Global Trade Linkages, focuses on huge opportunities in the Greater Middle East region comprising West Asia, Africa and the CIS.

"India and Dubai enjoy historic relationship that has evolved through the exchange of people, culture, merchandise and ideas running through several centuries," said Ibrahim Mohamed Al Janahi, Deputy CEO of Jafza and Chief Commercial Officer of Economic Zones World (EZW), the parent company of Jafza.

He added: "It has been a truly fascinating journey that started with Dubai's dhow-going seafarers and merchants who developed trading routes connecting Arabian Gulf with Indian subcontinent that still remains equally buoyant, despite the passage of time, making India, Dubai and Jafza's one of the most important trading partners."

Some of the leading Indian companies that have made Jafza their home include Tatas, L&T, Essar, Adani Global, SRF, Dabur, Cipla, Apollo Tyres, Landmark Group, Jindal Stainless, IPCL and Thermax.