DCCI receives a high profile Indian delegation

The delegation also included many representatives from the Indian business community in Mumbai who are interested in building new relations in Dubai, and strengthening existing ones.

"Indian businessmen are doing exceptionally well in the region as a whole and Dubai in particular, and our two countries have enjoyed great historical relations, although the many opportunities available mean than there is plenty of room for expansion" said Dr. Ahmed Saif Bel Hasa, a Board Member of the Dubai Chamber in his welcoming speech.

Dr. Bel Hasa praised the vast developments India has witnessed in recent years, but called onto Indian officials to exert more effort into promoting this change, as he highlighted that the business community in Dubai needs to have clearer information about the changes which have taken place in India, including the new laws and regulations which have been recently implemented, and those which have been eliminated. He added that being aided with a greater deal of knowledge would encourage businessmen and investors to do business with their counterparts in India.

H.E Haribakti agreed with Dr. Bel Hasa, and assured that the Indian Merchants' Chamber will do everything in its ability to provide the business community in the UAE with such information, and he added that their visit is one of the ways they attend to promote the opportunities India has to offer. Hei said: "We aim to study economic policies of UAE and identify specific emerging business opportunities, identify suitable partners with a view to set up joint ventures, technology transfer and expand the bilateral trade and economic cooperation, visit the free zones, and interact with the Chambers of Commerce in the UAE."

In his brief presentation about India's potentials, Mr. Haribakti mentioned that India is the 2nd largest emerging market after China, that it has had a GDP growth of 20%, and that it is expected to be a developed country by 2020. He added that this 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.

He invited the DCCI to form a delegation to attend a major Indian exhibition taking place in July in Singapore, as he thought that this would help strengthen the bridges between the two countries, and would enlighten the business community in Dubai about the vast opportunities India has to offer.