Since the establishment of India-UAE diplomatic relations in 1972, the scope of bilateral relations has widened and the level of engagement has increased phenomenally, more so during the recent past seven years. Prime Minister Narendra Modi’s long-awaited visit to the UAE in 2015 led to a slew of agreements aimed at strengthening economic, defense, security, law enforcement, energy, food security, space cooperation, etc. The momentum was reinforced by the visit to New Delhi of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on the occasion of the Republic Day Celebrations the following year. With the re-election of Prime Minister Modi in 2019, this golden era of the UAE-India relationship has gained further impetus with comprehensive and multi-fold growth. The frequent visits made by Prime Minister Modi to the UAE and reciprocal visits by Sheikh Mohamed are proof of an intense and in-depth relationship carried by both countries. The recent developments in India-UAE relations stem from shared economic visions and a compatible regional geopolitical outlook.
Connected with a strong and historical bond, the UAE and India explore different methods to facilitate mutually beneficial investments. The India-UAE multi-faceted relationship is getting ready to celebrate the 50th anniversary of an ever-growing bond. Over the years, the relationship between the two countries has developed in diversified sectors.
The bilateral trade has now grown to $60 billion per annum, with India becoming the second-largest trading partner of UAE, with a potential to reach $100million in the next three to four years. The mutual investments are poised to grow further with the UAE committing to make a corpus of $75 billion available for investments in India. The UAE is home to over 3.3 million Indians, which makes the relations maintained by both countries stretch beyond mere trading and investment networks. Both the UAE and India have grown robustly over the past two decades.
As per the World Bank data, the GDP of the UAE has grown by almost four times in a span of twenty years, i.e., from $104 billion in 2000 to $421 billion by the end of 2019. India too has exhibited a swift growth in the economy over past years. To be precise, India grew its GDP from $468 billion in 2000 to $2,800 billion ($2.8 trillion) by the end of 2019, becoming the world’s fifth-largest economy. Furthermore, on purchasing power parity basis, India ranks as the third biggest economy in the world, after the US and China. With the signing between the two countries of the impending Comprehensive Economic Partnership Agreement (CEPA), the bilateral trade and investments are only poised for phenomenal growth.
Nikai is a renowned group in the Middle East and beyond business entity that is led by Paras Shahdadpuri, a former diplomat. Shahdadpuri is extremely proud of the way India-UAE relations are developing. To him, 2022 is not a usual year. The 50th year of the India-UAE strong bilateral ties is a great reason for the Indian entrepreneur to rejoice. In his own humble way, Shahdadpuri has toiled hard to promote India-UAE trade, economic and investment relationship. He has served as Chairman of the Indian Business and Professional Council (IBPC) for several years. He has also headed the Overseas Indians Economic Forum, and later as President of the Indian Business Leaders Forum. These organisations have served as an important catalyst in the growth of India-UAE economic and investment relationship. The Nikai Group has been a responsible corporate citizen since its inception. Over the years, the group has been contributing to various educational institutions in the UAE and to NGOs working in India. At an individual level, Shahdadpuri has devoted his time and energy by providing leadership in various associations and groups which have contributed to promoting the bilateral relationship between the two countries.
Since its establishment in 1995 with a few products, Nikai has grown to become a one-stop-shop for its customers’ home needs. It offers a strong lineup of more than 400 products across a vast range including lifestyle entertainment, kitchen appliances, homecare, personal care, cooling and refrigeration, heating, etc. The brand has a growing number of over 60 million satisfied customers in more than 60 countries. Headquartered in the UAE, Nikai has direct operations in many countries abroad, like Oman, China, Saudi Arabia, Qatar, Georgia and Egypt to name a few.
Nikai Group has diversified its business in fast moving consumer goods FMCG such as Crescent General Trading; third part logistics such as Nikai Logistics; staffing and outsourcing such as TASC Outsourcing; digital transformation solutions such as SPOTNIK, etc.
Nikai Group has always focused on innovation and offered exceptional service to customers. No doubt, the group is known as ‘Mr. Reliable’. The roup has unwavering ethos and a strong value system, which has helped it to sustain growth YoY, through strong bonding with its team partners and stakeholders.
“I am extremely excited and happy the way India-UAE unique and comprehensive relationship is shaping up, based on mutual respect and sincerity,” says Shahdadpuri.
Long live UAE-India strong bonds!
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