Dubai International Chamber Opens New Office in Bangalore: Bolstering UAE–India Economic Ties

Empowering Communities, One Branch at a time!

Dubai Internation Chamber has officially inaugurated a new representative office in Bangalore, India. This step aims to strengthen Bilateral Trade between the two states. Fostering Dubai's position as a global business hub and promote its trade and investment ties with India and broadly speaking, expand UAE’s reach in terms of its trade practices globally. Considering with this new in Bengaluru, the number of Dubai International Chamber’s international representative offices has also risen to 34.

What is Dubai International Chamber?

The Dubai International Chamber facilitates international market access for Dubai-based businesses and attracts foreign investments into the emirate. With a network of international representative offices across five continents, the chamber’s fundamental aim is to bring together and connect companies with reliable stakeholders to assist and enable them to have access to new markets and demonstrate Dubai’s competitive advantages.

How it Came into Being

While this expansion can be regarded as part of the Dubai Global initiative launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, with the aim to establish at least 50 international offices around the world before the onset of 2030. It’s worth noting that this establishment stems from recent initiatives to strengthen bilateral economic relations, including agreements witnessed during the Crown Prince of Abu Dhabi's visit to India. These efforts aim to elevate the UAE–India economic partnership to new heights, fostering sustainable growth and development for both states.

Impact of Bilateral Trade

it’s safe to say this decision lays down a strong brick towards building and strengthening relationship between two states. Besides, this step goes a long way than just mere close ties between the two states. For one thing, it has stronger yet positive implications for both countries, as it enables businesses to have a better reach to international trades. For example, UAE Based Businesses. With this addition not only, Dubai is expected to gain foreign direct investment in 34 Global Markets including India which is a diverse and significant state comprising both renowned and emerging businesses. it also provides a good standing to Dubai-based companies in exploring new ventures and pursuing trade practices globally. At the same time, it enables Indian businesses seeking to expand internationally

What It Means For UAE Finance and Trade

Suffice it to say, with the onset of the Bangalore office, it can be perceived as a milestone in terms of trade, finance and business between UAE and India as it positions Dubai as a strategic partner for Indian businesses looking to broaden its reach internationally. It also has proven to bolster UAE’s presence across globe as with this new opening of the new office in Bengaluru, the number of Dubai International Chamber’s international representative offices has also risen to 34.

This can be reflected from the remarks from His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, His Highness added:

“We remain committed to following the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to build bridges of cooperation with our partners in global markets in a way that advances our mutual interests and supports the path of sustainable development.” His Highness further emphasized that the "economic relations between Dubai and India are observing a strong upward trajectory on all fronts".

Conclusion:

All things considered the establishment of representative office in Bangalore; India exhibits tailored support for bilateral trade relations between the UAE and India. further aligning with the purpose of the UAE–India Comprehensive Economic Partnership Agreement (CEPA), which seeks to empower bilateral trade and investment flows, underscoring a mutually shared vision for economic diversification and esteemed prosperity between two states and its people.