
Sharjah Chamber wraps up trade mission to India, strengthens industrial cooperation at private sector level
These meetings took place on the sidelines of the Business Forum organized by the Sharjah Chamber in Ahmedabad, the second stop of the mission. The forum explored key opportunities for both sides to strengthen economic partnerships and deepen industrial and investment collaboration between Emirati and Indian private sector stakeholders.
The forum was attended by H.E. Abdallah Sultan Al Owais, Chairman of SCCI; H.E. Waleed AbdelRahman BuKhatir, Second Vice Chairman of SCCI; and H.E. Jamal Mohamed Sultan Binhuwaidin, SCCI Board Member.
Also present were Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI; Ali Abdullah Al Jari, Director of the Sharjah Export Development Centre; and Jamal Saeed Bouzanjal, Director of Corporate Communication at SCCI; along with several Chamber staff.
The forum also saw participation of business leaders, entrepreneurs and private sector representatives from both Sharjah and Ahmedabad, which is recognized as a major industrial hub in India.
The forum's agenda included focused B2B meetings and detailed presentations highlighting key investment opportunities across diverse economic sectors in both Sharjah and Ahmedabad.
Special emphasis was placed on Sharjah's business-friendly environment, including its world-class infrastructure and investor incentives. The Sharjah Chamber showcased its suite of support services aimed at enabling entrepreneurs to scale their operations and expand their global market reach.
In his keynote speech, H.E. Abdallah Sultan Al Owais said that the Sharjah–India Business Forum in Ahmedabad is part of ongoing efforts to strengthen the rapidly growing economic and trade relations between the two countries.
He noted that India's exports to the UAE totaled around USD 37.1 billion in 2024. India also ranked as the top destination for the UAE's non-oil exports, accounting for 13.5% of total exports and recording a record growth of 75.2% compared to 2023.
'Through this mission, we aim to convert this positive momentum into fruitful partnerships between the business communities of the UAE and India in general, and between Sharjah and Ahmedabad in particular, thereby enhancing economic and investment collaboration to support joint growth,' Al Owais added.
He highlighted Sharjah's position as a premier investment destination for Indian enterprises, with more than 20,000 Indian companies now headquartered in the emirate, demonstrating increasing investor confidence in Sharjah's business climate.
He further underlined the strategic significance of Ahmedabad as one of India's most vibrant industrial and economic powerhouses, noting that its business and industrial stakeholders stand to benefit from Sharjah's advanced industrial base, which hosts more than 35% of the UAE's total manufacturing facilities.
Concluding the second leg of their trade mission to India, the Sharjah Chamber delegation carried out on-site visits to several economic institutions in Ahmedabad, where they gained insights into their business activities and service offerings.
These visits featured discussions on potential areas of cooperation, industrial integration, exchange of expertise, and the adoption of best practices, with the aim of establishing investment partnerships that serve the interests of both sides.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mid East Info
6 hours ago
- Mid East Info
Tech Mahindra reports EBIT of ₹ 1,477 Crores, up 34% YoY; YoY margins expand by 260 bps; New deal-wins at USD 809 Mn – YoY growth of 51%
Noida – July 16th, 2025: Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries announced the audited consolidated financial results for the quarter ended June 30, 2025. Financial highlights for the quarter (USD) · Revenue at USD 1,564 mn; up 0.4% YoY · EBIT at USD 172 mn; up 30.2% YoY · EBIT Margin 11.1%; up 260 bps YoY · Profit after tax (PAT) at USD 133 mn; up 30.2% YoY · PAT Margin 8.5%; up 190 bps YoY · Free cash flow at USD 86 mn · New deal wins TCV USD 809 mn Financial highlights for the quarter (₹) · Revenue at ₹ 13,351 crores; up 2.7% YoY · EBIT at ₹ 1,477 crores; up 34.0% YoY · Consolidated PAT at ₹ 1,141 crores; up 34.0% YoY · Diluted Earnings per share (EPS) at ₹ 12.86 Other Highlights · Total headcount at 148,517; up 897 YoY · LTM IT attrition at 12.6% · Days of Sales Outstanding 95 days; up 2 days YoY · Cash and Cash Equivalent at the end of the quarter ₹ 8,072 crores Mohit Joshi, CEO and Managing Director, Tech Mahindra, said, 'Our performance is steadily strengthening, reflecting disciplined execution and a focused strategy. Deal wins have increased by 44% on a last twelve months (LTM) basis, supported by broad-based momentum across verticals and geographies.' Rohit Anand, Chief Financial Officer, Tech Mahindra, said, 'We have delivered seven consecutive quarters of margin expansion – a clear reflection of the discipline and focus across our organization. Even in an uncertain environment, our Project Fortius program continues to generate meaningful results and drive operational improvements.' Key Deal Wins Selected as a key 'growth partner' by one of US-based leading consumer wireless operators for its Customer Operations transformation. The designation as a 'growth partner' unlocks the door to all future opportunities as per the client's new sourcing strategy. Tech Mahindra was selected by a Railroad company in the Americas region for the support and development of a portfolio of applications across multiple corporate functions of the company and across multiple technologies including SAP, Salesforce, and data analytics, amongst others. Tech Mahindra was selected by a leading US-based Hi-Tech company to help them deliver to their end customers a truly immersive and enriched user experience on one of their flagship consumers focused product which is powered by their AI and LLM platform. TechM will ensure that the consumer product with 2.0 billion+ active users have enriched user experience including keeping the platform safe. Tech Mahindra was chosen as strategic partner by UK-based manufacturer to drive digital transformation by establishing a Shared Services Center. TechM will deliver end-to-end IT, digital solutions, and BPS services focused on transforming the customer's enterprise back office – enhancing experience, efficiency, agility, and resilience – delivering superior business outcomes. Tech Mahindra was selected by a leading global fashion apparel brand for a multi-year strategic engagement to provide digital and data transformation and support services. The scope includes SAP, Cloud, Data & AI, and Digital Commerce platforms, with a dedicated Global Capability Center or GCC to drive innovation, cost efficiency, and business agility. Tech Mahindra was selected by a leading global insurance and asset management company's Japanese subsidiary to consolidate, modernise, and digitise its IT systems and operations, enabling the client to adopt cloud-native applications, revamp their enterprise architecture, accelerate AI adoption, and bring innovative products to market more quickly. Tech Mahindra was selected as a Prime partner with a leading UK based Telco for a multi-service line deal to deliver and manage applications across its fixed and mobile networks. The scope includes delivering services across ADMS, Network Services, Next-Gen Services, Engineering Services and Digital Enterprise Applications. Tech Mahindra was selected by a leading international telecom company in the MEA region for a transformation and managed services deal to manage, centralise, and transform its various IT functions. Customer will benefit by reducing its TCO due to transformed ways of working, increased automation and AI. Business Highlights Tech Mahindra announced the launch of a new managed services offering for Cisco Multicloud Defense, a component of Cisco's Hybrid Mesh Firewall. The new offering provides enterprises a robust cloud security solution that enables secure, scalable, and seamless operations across multi-cloud environments. The new collaboration delivers multidirectional protection across any public or private cloud – blocking inbound attacks, lateral movement, and data exfiltration using a single SaaS control plane, eliminating inefficient, complex, and costly point solutions. Tech Mahindra was named a Red Hat Premier Partner globally. As a Red Hat Premier Partner, TechM gains access to technical resources, joint go-to-market opportunities, and extended collaboration with Red Hat's product and services teams. In collaboration with Red Hat, TechM has engineered over 15 solutions as part of its GTM strategy, spanning automation, edge intelligence, and AI-driven cloud-native capabilities powered by Red Hat OpenShift, Red Hat Ansible Automation Platform, and other platforms. Tech Mahindra announced a partnership with ServiceNow to deliver next-generation broadband solutions tailored for Communication Service Providers (CSPs). The partnership offers comprehensive vertical solutions stack that includes planning and building networks, managing operations, enhancing customer experience, and monetising services, by leveraging TechM's platform – a pre-integrated end-to-end solution built on ServiceNow® TMT product suites. The solution also provides AI-driven analytics, Network-as-a-Service (NaaS), Cloud-native Open-Source Software (OSS) systems and intelligent automation to streamline operations and capitalise on the fast-growing 'Everything-as-a-Service' opportunity. Through the solution, CSPs will be able to improve operational efficiencies by up to 50%, ensuring accelerated time-to-market and scalable broadband rollouts. Tech Mahindra and CrateDB, a data management company, announced a strategic partnership at Hannover Messe 2025, the world's premier trade fair for industrial technology to revolutionise the automotive, manufacturing, and smart factory sectors by delivering advanced agentic AI solutions that leverage real-time data analytics, enabling businesses to drive innovation and efficiency at scale. The partnership will unlock the full value of data for industrial customers by leveraging CrateDB's open-source, multi-model, distributed database, while TechM will provide advanced capabilities to optimise supply chains, improve predictive maintenance models, and ensure higher quality control standards across operation centres. Tech Mahindra announced a partnership with Nuix (AXS: NXL), a global leader in AI-powered investigative analytics and intelligence software to provide innovative, scalable solutions for cyber and fraud detection. The partnership will leverage TechM's extensive expertise in AI, Digital Engineering, and Cyber Risk Management to integrate Nuix's advanced investigative and data analytics solutions into its services, unlocking significant global sales opportunities with the Nuix Neo Solutions by assisting customers in managing data breaches, preventing fraud, and protecting Personally Identifiable Information (PII) in industries with stringent regulatory and compliance requirements, including in BFSI, telecommunications, and public sector companies. Tech Mahindra and KOGO AI, a category-defining provider of Agentic AI infrastructure, announced a strategic collaboration to jointly build and deliver next-gen enterprise AI solutions and agents — designed for autonomy, scale, and compliance. Unlike traditional partnerships, this alliance is rooted in co-innovation focused on building intelligent AI agents for host of cross enterprise use-cases, designing Private AI architectures that run on-prem, hybrid, or secure cloud environments, integrating with legacy systems to drive transformation without overhauling infrastructure and driving outcomes in various industries through domain-specific AI deployments. Awards and Recognitions Awarded the 'TM Forum Upskilling Award' at DTW Ignite 2025 (DTW), reaffirming TechM's continued leadership in building a future-ready workforce that empowers Communication Service Providers (CSPs) to navigate and lead in an increasingly autonomous and platform-driven telecom landscape. Recognised as one of the 'Best Organisations to Work' for 2025 at ET NOW Best Organisations to Work 2025. Recognised as one of the 'Most Innovative Organisations' of 2025 at ET NOW Most Innovative Organisations 2025. Recognised as one of the 'Most Sustainable Organisations' of 2025 at ET Edge 4th edition of Sustainable Organisations 2025. Recognised amongst the 'Champions of Green Business Practices' by ET Edge at Times Now Global Sustainability Alliance – Sustainable Organisations 2025. Included in Sustainalytics 2025 ESG Top-Rated Companies list and recognised as both 'Region Top Rated' and 'Industry Top Rated' for outstanding performance in sustainability practices. Recognised as a constituent of the FTSE4Good Index Series for the 9th consecutive year. The only Indian IT company to receive the highest 'A' rating across all three CDP categories: Climate Change, Water Security, and Supplier Engagement. Analyst Ratings & Recognitions Recognised with the ISG Star of Excellence™ – 2024 award for the APAC region. The recognition from ISG (Information Services Group), highlights TechM's exceptional customer experience (CX) performance by attaining the highest regional customer experience rating in APAC. Leader – Aerospace and Defense Services and Solutions 2025-Engineering, Design, and Innovation – Overall Ecosystem – Europe and US by ISG Leader – Aerospace and Defense Services and Solutions 2025-Maintenance, Repairs and Overhaul (MRO) and Aftermarket – Overall Ecosystem – Europe and US by ISG Leader – Google Cloud Partner Ecosystem 2025 – GenAI and AI Services – US by ISG Leader – Google Cloud Partner Ecosystem 2025 – Professional Services – (Consulting and Migration) – US and APAC by ISG Leader – Google Cloud Partner Ecosystem 2025 – Managed Services- US and APAC by ISG Leader – Google Cloud Partner Ecosystem 2025 – Enterprise Data Infrastructure Services – US by ISG Leader – Private/Hybrid Cloud – Data Center Services 2025 – Managed Services — Midmarket- Nordics by ISG Leader – Cybersecurity Services and Solutions 2025 – Technical Security Services – Australia by ISG Leader – Cybersecurity Services and Solutions 2025 – Next-Gen SOC/MDR Services (Midmarket) – UK by ISG Leader – Automotive and Mobility Services and Solutions 2025 – Automotive Engineering and Manufacturing Services – North America, Europe, and APAC by ISG Leader – Automotive and Mobility Services and Solutions 2025 – Electric Vehicles and Mobility Services- North America, Europe, and APAC by ISG Leader – Automotive and Mobility Services and Solutions 2025 – Autonomous Systems and Software-defined Vehicles – North America, Europe, and APAC by ISG Leader – Automotive and Mobility Services-and Solutions 2025 – Automotive Retail and Aftermarket Services – North America, Europe and APAC by ISG Leader – Automotive and Mobility Services and Solutions 2025 – Technology Transformation and Consulting- North America and APAC by ISG Leader – Network – Software-Defined Solutions and Services 2025 SD-Networks Transformation Services (Consulting and Implementation) – US and Germany by ISG Leader – Network – Software-Defined Solutions and Services 2025 – Edge Technologies and Services (Including Private 5G) – Germany by ISG Leader – Life Sciences Digital Services 2025 – Clinical Development (Service Providers) – Global by ISG Leader – Life Sciences Digital Services 2025 – Commercial Operations – Digital Evolution (Service Providers) – Global by ISG Leader – Supply Chain Transformation Services for Retail and CPG PEAK Matrix® Assessment 2025 by Everest Group Leader – Retail Services PEAK Matrix® Assessment 2025 by Everest Group Leader – SPARK Matrix™: Procurement Services, 2025 by Quadrant Knowledge Solutions Consolidated Financial Statement for the quarter ended June 30, 2025 drawn under Ind AS About Tech Mahindra Tech Mahindra (NSE: TECHM) offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 148,000+ professionals across 90+ countries helping 1100+ clients, Tech Mahindra provides a full spectrum of services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services. It is the first Indian company in the world to have been awarded the Sustainable Markets Initiative's Terra Carta Seal, which recognizes global companies that are actively leading the charge to create a climate and nature-positive future. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies. For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit Our Social Media Channels For Further Queries: Gaurav Sethi Head – Investor Relations Phone: +91 9971152508 Email: Rushabh Jain Associate Manager – Investor Relations Phone: +91 9619267252 Email: Abhilasha Gupta Head – Global Corporate Communications & Public Affairs Phone: +91 9717946080 Email: Leah Jena Associate Manager – Corporate Communications Phone: +91 9348920917 Email: Disclaimer Certain statements in this release concerning the future prospects of Tech Mahindra Limited ('the Company' or 'TechM') are forward-looking statements. These statements by their nature involve risks and uncertainties that could cause Company's actual results differ materially from such forward-looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.


CairoScene
7 hours ago
- CairoScene
Egypt's Foreign Reserve Reached USD 48.7 Billion by June
The Central Bank of Egypt confirms a USD 174 million boost in reserves, extending a multi-month trend of gains in the country's foreign currency position Jul 16, 2025 Egypt's international reserves ticked upward in June, with the Central Bank reporting a rise to USD 48.7 billion by the end of the month. This marks an increase of USD 174 million from USD 48.526 billion in May 2025, as well as a rise from USD 47.1 billion in December 2024. The growth follows two previous months of increases, with May closing at USD 48.526 billion and April at USD 48.144 billion. The persistent gains come amidst ongoing macroeconomic adjustments. This marks the third straight month of improvement, each showing modest but consistent climbs. The upward slope suggests both a deliberate policy posture and a measure of insulation from external shocks. Egypt's foreign reserves had dipped in recent years, strained by global market volatility and domestic financing needs. In 2022 and 2023, the country faced heightened pressure on its balance of payments, leading to a shift in monetary strategy and multiple rounds of IMF engagement.


CairoScene
9 hours ago
- CairoScene
Foreign Ownership in Saudi Market Rises 501% Over Eight Years
Foreign ownership in Saudi Arabia's financial market grew 501% between 2017 and 2024, totalling USD 112 billion, driven by regulatory reforms and Vision 2030 initiatives to deepen the capital market. Foreign ownership in Saudi Arabia's financial market reached SAR 420 billion (USD 112 billion) by the end of 2024, marking a 501% increase compared to 2017. The growth follows regulatory changes aimed at improving market access, transparency, and investor participation. The increase is part of a broader financial sector development strategy aligned with national goals to deepen capital markets and enhance their contribution to the economy. Plans for 2025 include expanding financing options for new and growing companies through public listings, increasing the diversity of investment products, and strengthening the asset management industry. Ongoing efforts also focus on developing the regulatory framework for sukuk and debt instruments to support public and private sector funding.