“If you’re not in Dubai or Mumbai, it’s goodbye”

Over 200 attendees — including investors, businesspeople, and policymakers — and 39 high-level delegates from Dubai converged at St Regis Hotel, Mumbai, on April 8 on occasion of the Dubai-India Business Forum. The forum was organised by Dubai Chambers, which promotes Dubai as an international business hub and is the umbrella organisation for the Dubai Chamber of Digital Economy, Dubai International Chamber, and the Dubai Chamber of Commerce. The event also saw representation by Indian industry bodies: Confederation of Indian Industry (CII), FICCI (Federation of Indian Chambers of Commerce & Industry), and the Indian Merchants' Chamber (IMC).

The occasion coincided with HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum’s first official visit to India as the Crown Prince of Dubai. His arrival, as well as the Dubai-India Business Forum, preceded several announcements invoking strategic bilateral ties. These include the construction of the ‘Bharat Mart’ in Jebel Ali, the Bharat-Africa Setu (corridor) to help Indian exporters access 50-plus countries in the Africa continent, and partnerships with Dubai-headquartered logistics giant DP World to develop and maintain RITES and Cochin Shipyard projects.

In his opening address at the Dubai-India Business Forum, H.E. Ahmad Abdulla Bin Byat, Vice Chairman, Dubai Chambers, said, “Dubai and India share an exceptional relationship built on mutual trust and commitment to economic integration. India holds an important position as a key trading partner for Dubai… As we mark the third anniversary of the CEPA [Comprehensive Economic Partnership Agreement] between the UAE and India, we are confident bilateral trade will continue to accelerate and flourish over the long term.”


“When you do business with Dubai, you don’t just do business with Dubai – you do business with the world out of Dubai,” he added, pointing to the city’s role as a globally connected trade and investment gateway.

H.E. Abdulla Husein Al Marzooqi, Consul General of the UAE in Mumbai, shared a presentation on Dubai as an attractive hub for Indian businesses. Highlights from his pitch included:

• India’s being Dubai’s second-largest trading partner
• India being the largest contributor (21.5%) of foreign direct investment in Dubai by value. Key sectors include business services, food and beverage, software and IT, textiles, and consumer products.
• Over 73,000 Indian companies being part of Dubai Chambers
• Twenty-seven trade/business zones in the mainland
• No income tax, 5% VAT, and 9% corporate tax, with numerous double taxation agreements
• A global freight loyalty programme called the World Logistics Passport, which fast-tracks cargo, reduces administrative costs, and facilitates movement between ports and air.

Tilak Pati, Vice President - Head, MENA Region, Invest India, spoke about the increase in private equity and venture capital funding from Dubai into India, especially in sunrise sectors such as semiconductors, electric vehicles, healthcare and pharmaceuticals, and renewable energy.

The panel discussion ‘Dubai-India: A mutually beneficial partnership for trade, investment, and global expansion’ explored potential long-term partnerships in sectors such as the digital economy (specifically, payments), Indian startup participation in Expand North Star (billed as the world’s largest startup event), and Dubai being a springboard for Indian businesses that want to expand to Africa. The panellists were Dubai Chambers President and CEO H.E.Mohammad Ali Rashed Lootah; Anant Singhania, former President, IMC Chamber of Commerce and Industry; Adeeb Ahamed, Chair, Federation of Indian Chambers of Commerce & Industry (FICO) - Arab Council, and R Mukundan, Vice President, CII.

“The UAE is the fourth-largest investor in Africa. Dubai can play a significant role in connecting Indian investors to some of the world’s fastest-growing economies. Dubai Chambers has seven offices in Africa that cover more than 10 countries. We can definitely have Indian businesses investing in Africa through bilateral cooperation,” H.E. Lootah underlined.

Speaking about the unshakeable partnership, both culturally and economically, between the UAE and India, CII’s Mukundan shared an anecdote about a meeting with an American delegate. “When he returned to Mumbai after his first visit here, he told me about his recent travels and added, ‘I now realise that if you’re not in Dubai or in Mumbai, then it’s a goodbye.’ That tells you about the synergies of both countries, their power, and what more we can do together.”

The closing note by Jaykumar Rawal, Minister for Marketing and Protocol for the Government of Maharashtra highlighted the state’s indispensability when it comes to agricultural exports, industrial corridors, and financial services.

“We are implementing reforms in the Agriculture Produce Market Committee Act to facilitate direct farmer-exporter linkages and digital trade platforms. That's the vision, since Maharashtra's fresh produce is a regular feature on Dubai's supermarket shelves, and in its restaurants and hotels.”

“Dubai and Mumbai don’t just share trade. We share trust. Let us strengthen this trust, right from the sugarcane fields of Kolhapur, the tech labs of Pune, and the ports of Mumbai to the skyscrapers of Dubai,” he concluded.

As part of its ongoing commitment to deepening India-Dubai economic ties, Dubai Chambers also announced the opening of a new international office in Bengaluru. This strategic expansion aims to deepen engagement with Indian tech startups, fintech firms, and emerging enterprises in AI, and clean tech. The Bengaluru office will serve as a platform to fast-track entry into Dubai’s business ecosystem via access to policy-makers, accelerators, and strategic partnerships.

Disclaimer - This article is part of a featured content series on Business in Dubai.