Dubai is looking to attract tech expertise from India

As part of its plan to double its gross domestic product (GDP) by 2033, Hadi Badri, the director of economic development at Dubai's Department of Economy and Tourism, stated in an interview that the city-state is looking to attract tech expertise from India.

According to him, the UAE, of which Dubai is a member, and India intend to increase non-oil trade to $100 billion by 2030 from just $50.5 billion in April under the Comprehensive Economic Partnership Agreement (CEPA).

He noted that Dubai is in discussions with Indian manufacturers that are interested in using the emirate as a distribution centre. The CEPA agreement, which permits an acceleration of trade growth of over 30%, is what led to the connections.

1 Million jobs in the UAW are produced by Indian Firms

According to Dubai Chambers, around one million jobs in the UAE are produced by Indian businesses and non-resident Indian-owned organizations.

And this is a foundation upon which we may build. According to Badri, the UAE's admission to the BRICS economic community is also another step that will enable even more cooperation between the UAE and India.

In reality, companies in Dubai are more keen to boost economic investment. Their focus on building stronger teams is around digital talent, including data scientists, computer scientists, and other professionals with a strong understanding of the field.

They are enhancing Dubai's ecosystem as tech entrepreneurs. It has gained some strong traction. According to him, around 83,000 enterprises having Indian roots have registered with the Dubai Chamber of Commerce, making about 25% of the chamber's overall membership. The co-founder of Lenskart was present when he met him because the company had already established itself in Dubai. He believe they arrived there two to three years prior and are utilising Dubai as a base to grow throughout the area. And a lot of firms follow this formula, as well.

Dubai's Ease of Business fosters growth

Having over 30 free zones, a favourable tax environment, streamlined business procedures, first-rate logistics infrastructure, and Dubai's strategic proximity to India make it possible to reach a $100 billion non-oil trade volume with India, according to Badri. Dubai also allows 100% foreign ownership in the majority of its economic sectors.

I believe that the conversations with the chambers were really productive. Additionally, they are eager to improve the connection between India and the UAE. Therefore, we anticipate that this will lead to some sort of prospective alliances and collaborations. It is often the case when you meet chambers and businesses that business-minded Indians have appreciated or have loved the way that emirates like Dubai have treated them, according to Badri.

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