Sharjah, India seek to improve economic ties
$137b Value of India’s outbound investment into the Gulf region
dubai — The Sharjah FDI Office, Invest in Sharjah, has organised the Sharjah-India Business Roundtable on the sidelines of the India-UAE Partnership Summit, as part of India’s continued interest in the emirate’s economy.
The roundtable focused on addressing investment opportunities spanning emerging sectors such as technology, artificial intelligence and renewable energy in a bid to expand the number of businesses in Sharjah in coming years.
Attending the roundtable were Marwan bin Jassim Al Sarkal, executive chairman of the Sharjah Investment and Development Authority (Shurooq); Paras Shahdadpuri, chairman of Nikai Group of companies; Sudesh K. Aggarwal, chairman of the Indian Business and Professional Council in Sharjah; senior representatives from the Business Leaders Forum, and more than 100 Indian investors.
Sharjah is one the key drivers for Indian outbound investment into the Gulf region, valued at more than $137 billion and a primary non-oil trade partner. Both Sharjah and India have shown significant growth, with the Indian economy expected to grow by 7.5 per cent and UAE’s economy at 3.9 per cent rate in 2018.
Al Sarkal said: “Sharjah has historically been one of the key drivers for Indian outbound investment volumes into the Gulf region, and was a key access gateway for international markets looking to bolster their investments in India and the wider Asian region.”
“Our governments have a history of collaborating together across numerous cultural and business initiatives, reflecting on the diverse investment journey Sharjah and India have had for many centuries,” he added.