30% of Dubai startups are owned by Indians
Dubai Chambers' CEO Mohammad Ali bin Rashed Lootah said almost 30% of the startup community in Dubai comes from India, adding that Indian firms and NRI-owned entities have created over one million jobs in the UAE.
Lootah highlighted that as of 2022, almost 83,000 Indian-owned companies are registered with Dubai Chambers. He added that the Chambers aims to amplify bilateral opportunities for key sectors and help companies enter new markets and assist international companies, as reported by the Gulf News.
He was speaking in the wake of the India-UAE Partnership Summit, held in Dubai on January 24.
The summit, inaugurated by Indian Minister of Commerce and Industry Piyush Goyal, aimed to drive economic partnerships between the two countries. It was organised by the International Business Linkage Forum (IBLF) in partnership with Dubai International Chamber.
Key sectors in the spotlight were manufacturing and startups, healthcare, agritech, food processing, fintech, and investment.
Rajiv Podar, Chairman of IBLF, said bilateral trade between the two countries is set to touch $88 billion in 2022-23. While food and energy securities were the prime focus between the UAE and India traditionally, the Comprehensive Economic Partnership Agreement (CEPA) also focuses on the SME sector.
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Edited by Teja Lele