Sharjah Chamber launches Indian Business and Professional Council

The Sharjah Chamber of Commerce and Industry (SCCI) has launched the Indian Business and Professional Council in Sharjah as part of its ongoing efforts to establish business councils for friendly countries with the aim of representing their respective business communities and promoting joint cooperation to enhance trade and investment exchange.

The council will serve as a platform for Indian businessmen to express their aspirations and desires and will work towards increasing the volume of bilateral trade and investment.

The council was launched during a ceremony held at the SCCI’s headquarters, which was attended by Abdullah Sultan Al Owais, chairman of the Sharjah Chamber of Commerce and Industry; Dr Aman Puri, consul-general of India in Dubai; Hussain Al Mahmoudi, CEO of Sharjah Research, Technology, and Innovation Park; and Mohammad Ahmed Amin Al Awadi, director-general of SCCI.

Lauding the launch of the Indian Business and Professional Council, Al Owais stressed that the chamber strongly believes in the vital role played by business councils and their valuable contributions to strengthening economic partnerships between business communities and investors.

"The relations between the UAE and India have always been fraternal and very strong. Recently, however, they had a new push towards more openness, tightness, and comprehensiveness with the Comprehensive Economic Partnership Agreement, which entered into force in May 2022," he said.

He said the agreement allows Emirati companies to benefit from the new advantages provided, in addition to increasing the volume of trade between the two countries by 120 per cent to $100 billion within five years, compared to $45 billion currently. However, it should be noted that the volume of non-oil trade between the two countries in 2022 reached Dh180 billion, with a growth of 10 per cent and 77 per cent compared to the years 2021 and 2020, respectively, Al Owais said.

For his part, Dr Aman Puri stressed that the Indian Business and Professional Council is a vital step in the right direction towards deepening relations between the two friendly countries, especially as both nations boast a huge potential for economic and trade growth.

Puri highlighted the importance of expanding economic cooperation between the two countries through innovative projects that contribute to achieving the goals of the comprehensive economic partnership that brings together the UAE and India, providing more openness in investments, adding that the new council will play a vital role in removing challenges, which means more growth and qualitative business.

— business@khaleejtimes.com

• Business