SCCI highlights 30% growth in Indian investments
These remarks were made during the Sharjah–India Business Forum, which was organized by the Sharjah Chamber in Mumbai, the first stop of its trade mission to the Republic of India, led by the Sharjah Exports Development Centre (SEDC). The delegation comprises 15 companies from Sharjah, representing a range of economic sectors.
This mission reflects SCCI's commitment to supporting the expansion of the UAE companies and the private sector representatives into the Indian market, while also showcasing Sharjah's diverse and high-potential investment opportunities to Indian counterparts.
The forum was attended by Abdallah Sultan Al Owais, Chairman of SCCI;
Waleed AbdelRahman BuKhatir, Second Vice Chairman of SCCI; and 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; Jamal Saeed Bouzanjal, Director of Corporate Communication at SCCI; and Abdulrahman Saeed Al Suwaidi, Director of Supply Chain and Government Affairs at Bee'ah Group, along with SCCI staff, business leaders, CEOs, and executives from industrial, manufacturing, and export companies operating in Sharjah.
During the forum, the Sharjah Chamber's delegation explored ways to strengthen economic and trade cooperation between Sharjah and India, with a focus on partnership prospects in priority sectors.
The program featured a range of business meetings and B2B engagements between companies from both sides, aimed at exploring cooperation opportunities, forging agreements, and forming strategic investment partnerships to drive bilateral trade growth.
In his keynote speech,
Abdallah Sultan Al Owais
expressed his gratitude to the Indian side for their warm welcome
and generous hospitality. He emphasized the deep-rooted relations between the UAE and India, noting that that both economies are among the fastest growing in the world, which signals strong prospects for expanding economic opportunities in the coming period.
He highlighted the remarkable growth in the two countries' economic partnership, with the UAE ranking as India's third-largest global trading partner in 2024. The volume of non-oil trade between the UAE and India exceeded AED 240 billion in 2024, marking a 20.5% increase from AED 199.3 billion in 2023. This sustained growth reflects the robust momentum and strategic depth of the bilateral trade ties between the two nations.
'Mumbai boasts a strong economic foundation rooted in financial services, information technology, trade, and maritime shipping. It stands out as a strategic gateway for UAE businesses to explore and capitalize on high-potential investment opportunities across these vital sectors. This forum represents a key milestone in advancing bilateral business collaboration and enhancing joint efforts to grow trade and investment volumes,' Al Owais added.
He
noted that this collaboration will further strengthen the economic ties between the UAE and India, marking a significant stride toward fulfilling the objectives of the Comprehensive Economic Partnership Agreement (CEPA), which aims to increase mutual investment and trade flows and raise non-oil bilateral trade to $100 billion by 2030
.
Ali Abdullah Al Jari delivered a comprehensive presentation highlighting the key investment advantages offered by Sharjah. He outlined the emirate's diverse economic landscape, its advanced infrastructure, vital industrial and commercial zones, and world-class logistical facilities.
He also underscored the Emirate's investor-friendly legal framework, which facilitates business growth and encourages foreign direct investment. The presentation highlighted the Sharjah Chamber's initiatives to support investor engagement through its structured network of business councils.
As part of its ongoing visit to India, which will continue until July 11, the delegation will head to Ahmedabad for the second leg of its tour. The agenda includes a dedicated business forum involving meetings with key representatives from Indian chambers of commerce and industry.
The program will also feature various business forums and meetings between Emirati and Indian business communities, aimed at exploring investment prospects and establishing joint economic partnerships.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
2 hours ago
- Zawya
Sharjah highlights 30% growth in Indian investments
MUMBAI: Abdallah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), affirmed that Sharjah holds a strategic position for Indian companies as a preferred investment destination, thanks to its fully integrated competitive advantages. He noted that Indian investors form a key component of Sharjah's business landscape, with nearly 2,000 new Indian companies joining the Chamber in 2024. This growth brought the total number of Indian businesses operating in the emirate to around 20,000, reflecting a 30 percent increase compared to 2023. Furthermore, Sharjah's export and re-export volume to India totaled approximately AED576 million, as documented through certificates of origin issued by the Chamber. These remarks were made during the Sharjah–India Business Forum, which was organised by the Sharjah Chamber in Mumbai, the first stop of its trade mission to the Republic of India, led by the Sharjah Exports Development Centre (SEDC). The delegation comprises 15 companies from Sharjah, representing a range of economic sectors. This mission reflects SCCI's commitment to supporting the expansion of the UAE companies and the private sector representatives into the Indian market, while also showcasing Sharjah's diverse and high-potential investment opportunities to Indian counterparts. The forum was attended by Abdallah Sultan Al Owais, Chairman of SCCI; Waleed AbdelRahman BuKhatir, Second Vice Chairman of SCCI; and 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; Jamal Saeed Bouzanjal, Director of Corporate Communication at SCCI; and Abdulrahman Saeed Al Suwaidi, Director of Supply Chain and Government Affairs at Bee'ah Group, along with SCCI staff, business leaders, CEOs, and executives from industrial, manufacturing, and export companies operating in Sharjah. During the forum, the Sharjah Chamber's delegation explored ways to strengthen economic and trade cooperation between Sharjah and India, with a focus on partnership prospects in priority sectors. The program featured a range of business meetings and B2B engagements between companies from both sides, aimed at exploring cooperation opportunities, forging agreements, and forming strategic investment partnerships to drive bilateral trade growth. In his keynote speech, Abdallah Sultan Al Owais expressed his gratitude to the Indian side for their warm welcome and generous hospitality. He emphasised the deep-rooted relations between the UAE and India, noting that that both economies are among the fastest growing in the world, which signals strong prospects for expanding economic opportunities in the coming period. He highlighted the remarkable growth in the two countries' economic partnership, with the UAE ranking as India's third-largest global trading partner in 2024. The volume of non-oil trade between the UAE and India exceeded AED240 billion in 2024, marking a 20.5% increase from AED199.3 billion in 2023. This sustained growth reflects the robust momentum and strategic depth of the bilateral trade ties between the two nations. 'Mumbai boasts a strong economic foundation rooted in financial services, information technology, trade, and maritime shipping. It stands out as a strategic gateway for UAE businesses to explore and capitalise on high-potential investment opportunities across these vital sectors. This forum represents a key milestone in advancing bilateral business collaboration and enhancing joint efforts to grow trade and investment volumes,' Al Owais added. He noted that this collaboration will further strengthen the economic ties between the UAE and India, marking a significant stride toward fulfilling the objectives of the Comprehensive Economic Partnership Agreement (CEPA), which aims to increase mutual investment and trade flows and raise non-oil bilateral trade to $100 billion by 2030. Ali Abdullah Al Jari delivered a comprehensive presentation highlighting the key investment advantages offered by Sharjah. He outlined the emirate's diverse economic landscape, its advanced infrastructure, vital industrial and commercial zones, and world-class logistical facilities. He also underscored the Emirate's investor-friendly legal framework, which facilitates business growth and encourages foreign direct investment. The presentation highlighted the Sharjah Chamber's initiatives to support investor engagement through its structured network of business councils. As part of its ongoing visit to India, which will continue until July 11, the delegation will head to Ahmedabad for the second leg of its tour. The agenda includes a dedicated business forum involving meetings with key representatives from Indian chambers of commerce and industry.
Arabian Post
5 hours ago
- Arabian Post
India Needs To Raise Defence Spending Substantially
By Nantoo Banerjee It is difficult to believe that India, the world's fourth largest economy by gross domestic product (GDP) and a major military power, ranks below even the tiny states of Kuwait and Greece when it comes to defence spending as a percentage of GDP. Considering the tricky geo-political situation in the south Asian region with China, India's No. 1 enemy increasingly surrounding the country with its growing economic and military control over Bangladesh, Sri Lanka, Maldives, Pakistan and Nepal, India does not seem to be spending enough on its defence in the face of a growing China threat. In terms of gross value, India's annual defence budget may not look that unimpressive, but it accounts for less than one-third of China's defence expenditure of nearly $267 billion. The US continues to be the biggest defence spender with a budget of $895 billion. Russia's defence budget is worth around $126 billion. India's defence budget is estimated at only around $75 billion. Effectively, India's defence spending works out 1.9 percent of its GDP. Although China's defence spending is officially estimated at only 1.5 percent of its economy, it excludes several important expenditures such as weapon imports, funding for the People's Armed Police, and research and development, according to the As a result, China's effective defence expenditure may be largely hidden. Or, it could be significantly higher than the publicly shared estimate. Communist China, the third major global military power after the US and Russia, has been rapidly modernizing its technological capability in the defence sector as it is expanding its presence across the world, only next to the US. It is difficult to assess China's actual military expenditure as it is also supposed to provide protection to the country's Belts & Roads Initiative (BRI) investments that cover some 150 countries across the world. The Chinese BRI spans across Asia, Africa, Europe, Latin America, and the Pacific region. Going by the recent reports, China has a potential base in Sri Lanka, Pakistan, Tanzania, Mauritius, Maldives and Myanmar. China is engaged in developing commercial seaports or free trade zones in the Indian Ocean's points of these countries. China is also supporting these countries with finalized contracts for conventional arms sales. The US is concerned. And, so is India. This explains the formation of the Quadrilateral Security Dialogue, or Quad, operating as a strategic forum to promote regional security and cooperation in the Indo-Pacific region, with a focus on shared values and a free and open international order based on the rule of law. The Quad member countries are: the US, Japan, Australia, and India. Interestingly, after the latest meeting of the defence ministers of the 10-member Shanghai Cooperation Organisation (SCO), which includes China, India, Pakistan and Iran, Indian Defence Minister Rajnath Singh refused to sign a draft statement that did not mention the Pahalgam terror attack. As a result, no joint declaration was made. Pakistan's defence spending is around 2.2 percent of its GDP. For the current fiscal year 2025-26, the country's defence budget was initially proposed to be 1.97 percent of GDP. However, following the recent four-day India-Pakistan war, indications are that Pakistan's defence spending, including hidden costs, military pensions and total military-related expenditure, may well exceed four percent of its GDP this year. In recent years, Pakistan's defence spending has generally remained at around 2.5 percent of GDP. Largely import-dependent on China for critical war equipment stocks, Pakistan appears to be ready to fight proxy war for China in both the South and West Asian regions. China's BRI investment in Pakistan, primarily through the China-Pakistan Economic Corridor (CPEC), is estimated to cost $62 billion. The CPEC is a key component of the BRI, aiming to enhance connectivity and trade between the two countries. The 27-member European Union, which appears to be fighting a proxy war in support of Ukraine against Russia, is looking to raise the defence expenditure to as high as five percent of its GDP due to a combination of factors, including Russia's aggression in Ukraine, a reassessment of security risks, the need to modernize its defence capabilities, and to better align with NATO's defence plans. According to reports, Ukraine's prolonged war against Russia is behind the EU's decision in support of a stronger and more unified European defence, particularly in the face of US President Donald Trump's lack of interest in continuously fund-feeding the European partners of NATO. The EU defence expenditure target of five percent of GDP includes investments in broader security areas, such as infrastructure upgrades (roads, railways, bridges), cyber defence, and military mobility to facilitate quick reinforcement. Among the world's top military spenders as percentage of GDP are: Ukraine (34.5 percent), Lebanon (10.5 percent), Israel (8.8 percent), Russia and Saudi Arabia (7.1 percent each), Kuwait (4.8 percent), Poland (4.2 percent) and the US (3.4 percent). India's proposed defence spending as a percentage of GDP in the 2025-26 budget, estimated to be 1.9 percent, represents a substantial decrease from its historical levels of around three percent, excluding large defence pensions, in the early 2000s. While the overall budget allocation for defence has increased in recent years, the percentage of GDP allocated for the purpose has remained at a relatively lower level below two percent. This is despite the changing security environment in the region in the last two decades. Recently, even Bangladesh had the guts to threaten India with possible military action to cut off the 'chicken's neck' in the Dooars region to sever India's land link with its eight north eastern states, namely Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura. India should not take the first ever Bangladeshi threat of this nature lightly since the country's import-dependent military is substantially controlled by China. This more than explains why India needs to increase its effective defence spending as a percentage of GDP in the coming years to remain fighting fit to protect the country's territorial integrity and economic progress in the face of a Chinese proxy war using both Pakistan and Bangladesh against India. (IPA Service)
Sharjah 24
7 hours ago
- Sharjah 24
Sheraa unveils the 7th edition of Access Sharjah Challenge
With a total prize value of AED 500,000, the Access Sharjah Challenge is now open for applications from education-focused startups around the world that have validated prototypes and are looking to scale internationally. Applications will be accepted until August 17. The challenge is being held in collaboration with the Sharjah Private Education Authority and the Sharjah Education Academy. The prize money will be divided equally between two winners, enabling them to test and implement their solutions at Alsedra Private School, Khalifah Al Hamzah American School, Pakistan Islamia Higher Secondary School and Al Badee Nursery. The upcoming edition, organized by Sheraa in collaboration with key implementation partners, the Sharjah Private Education Authority (SPEA) and the Sharjah Education Academy (SEA) invites leading global education startups at the Pre-Series A, Series A, B, and C+ stage to submit innovative solutions addressing two priority education challenges: Future-Ready Skills Challenge, which focuses on equipping students with foundational and digital skills to keep pace with a rapidly evolving world and prepare for the jobs of tomorrow and Arabic in Early Childhood Challenge, which emphasizes the importance of nurturing a sense of belonging to the Arabic language and embedding it as a core part of a child's identity from an early age. This collaborative approach ensures that all challenge statements reflect real-world needs and that submitted solutions are positioned for meaningful and scalable impact across Sharjah's education ecosystem. Sharjah leads the future of education Commenting on the launch, Sara Abdelaziz Al Nuaimi, CEO of Sheraa, said: We believe that meaningful innovation is defined by its ability to create real impact and expand access to learning. The Access Sharjah Challenge 2025 offers a dynamic platform where forward-thinking ideas converge with strategic ambition, enabling the transformation of promising concepts into scalable, real-world educational solutions. Through this initiative, we aim to enrich an already vibrant learning ecosystem, offering educators and students renewed opportunities to embrace tools and technologies that nurture lifelong learning and spark intellectual curiosity.' She added: 'Sharjah today stands out for its thriving educational ecosystem, backed by advanced digital infrastructure and strong collaboration between government and private sectors. This solid foundation positions the emirate as a leader in reimagining the future of education. The Access Sharjah Challenge is an open invitation to the world's most innovative education startups to help shape an inclusive, agile, and future-ready learning model, built from within a community that champions creativity and innovation.' Ali Al Hosani, Director General of the Sharjah Private Education Authority (SPEA), emphasized the importance of the Authority's participation in the Sharjah Gateway Challenge. Through its presence, the Authority seeks to contribute to building an informed and empowered society grounded in knowledge and science. He noted that innovation is no longer an option; it has become the cornerstone of supporting sustainable development, shaping the future, and strengthening the country's competitive position on the global stage. He stressed that adopting innovative thinking mechanisms and providing a nurturing environment for talent are fundamental pillars in building a prosperous future for students. He said, "Through the educational brainstorming workshop, the Authority contributed to shaping the "Future-Ready Skills Challenge" as a key theme, driven by our belief in its role in leading a qualitative transformation in the education system." He expressed his pride in cooperating with Sheraa and the Sharjah Education Academy to launch this challenge, which represents an effective model for the integration of roles between educational institutions in the emirate. Professor Pauline Taylor-Guy, the Chancellor of Sharjah Education Academy, expressed: "We are proud to partner with the Sharjah Entrepreneurship Center (Sheraa) through the 'Access Sharjah' Challenge by launching our unique challenge, 'Arabic Language in Early Childhood'. This collaboration demonstrates our collective dedication to fostering educational innovation and entrepreneurial solutions that restore the Arabic language as a vital component of children's lives, serving as a means of identity, culture, and belonging, rather than just a communication tool." She added: "At Sharjah Education Academy, we strive to reimagine the presence of the Arabic language in our children's lives by integrating it in fun and engaging ways into everyday learning activities. We are committed to empowering teachers, involving families, and designing stimulating learning environments that make Arabic a vibrant, meaningful experience rooted in belonging from the earliest years of a child's life. We hope this challenge inspires innovative ideas that strengthen Arabic language learning and deepen generational connections to it." Eligibility and program criteria ASC 2025 is open to global startups with a previous track record in working with corporate or government collaborations. Applicants must offer impact-driven, adaptable, and market-ready educational solutions aligned to the program's challenge statements. Startups should also demonstrate strong leadership, market traction with existing users, and a willingness to establish a local presence in Sharjah to scale their solutions regionally. From over 2,000 applications, 10 startups will be shortlisted through a rigorous two-stage selection process. The first, Criteria-Based Filtering, will assess alignment with challenge themes, market readiness, and scalability. The second, Interview-Based shortlisting, will evaluate the startup's fit for Sharjah's context, pilot readiness, and long-term potential. AED 500,000 prize and pathway to scale Following the selection of the top 10 startups, a dedicated 'Champions Training' program on August 20 will prepare implementation leads from partner organizations to effectively guide the Proof of Concept (PoC) phase. These champions will be trained in best practices for startup mentorship, PoC management, and adaptive troubleshooting, ensuring a smooth and impactful collaboration throughout the program. Participants will then undergo a tailored 'Startup Readiness Sprint' on August 27–28, designed to ensure alignment with the challenge. The program will focus on technical fit, pitch refinement, and collaboration readiness, equipping startups with a deep understanding of the challenge statements, partner expectations, and local market dynamics. The Startup Readiness Sprint concludes with a pitch to a judging panel comprising of the implementation partners, industry experts and key stakeholders; two winning startups will receive an equity-free grant of AED 250,000 each to pilot their solutions across schools and early childhood development centers in Sharjah. The pilot phase, starting on 22nd September 2025, will provide real-world testing environments, continuous support, and potential for long-term partnerships and scale. The program culminates in a showcase of pilot results at Sharjah International Summit on Improvement in Education on 14 – 15 February 2016, where winners will be announced.
