Indian commercial delegation visits DCCI

The delegation was headed by H.E. Mr. Om Prakash Chautala, Chief Minister of Haryana State, India, and H.E. Dr A C Muthiah, Chairman of FICCI.

"Dubai and India have maintained progressive trade relations during the past years. The total physical non oil trade between Dubai and India reached US$ 2.5 billion against US$ 1.5 billion in 1998 registering a growth of 66.6 % in just 5 years, and we look forward to higher levels" said H.E Dr. Anwar Gergash, a Board Member of DCCI in his welcoming speech.

Dr. Gergash called on businesses on both sides to increase promotional and marketing efforts by organizing trade delegations, business mission visits and by participating in international fairs and exhibitions such as the UAE Trade Exhibition in India which is being organized for the second time next October.

"We sincerely invite you to take advantage of the competitive business environment of Dubai and invest in I.T projects, in the light and medium high tech manufacturing industries and establish warehousing and distribution in Dubai free zones" continued Dr. Gergash.

From the Indian side, the Chairman of FICCI said "I am sure, today's event will lay another milestone in forging new Indo-UAE links". He added that FCCI expects many opportunities to emerge in the IT, telecom, e-commerce, healthcare, education, financial services and R&D sectors.

In his speech, Mr. Om Prakash Chautala mentioned that last year India had a growth of 8.4% in the 2nd quarter and 8.9% in the 3rd quarter which brings the Average Annual Growth in 2003-2004 at 8% plus, which is a great achievement considering the social, political and economic difficulties India faced.

The Chief Minister of Haryana highlighted that "the state has taken giant strides both in agriculture and Industrial fields in a short span of 37 years", pointing out that Haryana is currently the second largest contributor to the Central Food Grain Reserves and is the largest contributor to Central Excise Fund, as well as being the third largest exporter of software.

He also spoke of their aim to attract foreign investment to Harayana, as it's the first state to set up its own Foreign Investment Promotion Board in 2001. The minister invited the Dubai Chamber and the business community of Dubai to visit his state to realize the many potentials and opportunities available.

Today's meeting was concluded with signing of a Memorandum of Understanding between the Dubai Chamber and the Federation of Indian Chambers as a step towards achieving the mutual goal of consolidating and developing the bilateral trade levels between the two countries.