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The Dubai Chamber of Commerce and Industry on Thursday commended the strengthening of trade and commerce relationship between India and Dubai, crediting this growing relationship to the ease of doing business initiative by the Government at the Centre.
Prime Minister Narendra Modi was the first Indian PM to visit the Gulf nation and this followed by two visits of the crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed last year and in January 2017 to preside over the Republic Day celebrations has strengthened the ties between India and Dubai, said Dubai Chamber of Commerce and Industry Chairman H.E. Majid Saif Al Ghurair.
"Dubai Chamber has placed a strategic focus on strengthening the Emirate's ties with India. The country is a major part of our expansion strategy and we are excited to be opening our representative office in India later this year," said Majid Saif Al Ghurair while addressing a delegation of Confederation of Indian Industry (CII) here.
"India offers plenty of exciting trade and investment opportunities which businesses in the UAE stand to benefit from. The country is pushing ahead with plans to expand its infrastructure, develop cluster cities, and boost foreign investment in various sectors."
Dubai Chamber and Dubai-headquartered DP World, which has operations in India, said that relationships between India and Dubai have taken a completely different turn after the PM Modi's visit in August 2015, followed by the crown Prince of Abu Dhabi's visits.
"Partnership between India and Dubai is growing stronger by the day and the government is making all efforts to give assistance to business on both sides," said Anil Singh, Chairman, Senior Vice President and Managing Director - Subcontinent UAE - India Business Council DP World.
"Bureaucracy is major challenge faced by businesses operating in India; however, we believe that doors have been opened up for investments to increase in both countries. We also believe that the ease of doing business has been a major push and it will grow with openness and constant dialogues."
Recently, DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem had announced investments of USD one billion in India's ports, logistics and free trade zone, in addition to its current large portfolio.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)