Dubai export body to set up office in india to encourage indian businesses to set up bases

Dubai Export Development Corporation (DEDC) will shortly opening an office in New Delhi to sensitize the Indian businesses the logistics advantage of the port to encourage Indian importers and manufacturers to use Dubai as a re-export and manufacturing hub.

This was disclosed by Mr. Farid A Redha Karmostagi, Director & Acting CEO, DEDC, at an interactive session with members of PHD Chamber in New Delhi. Mr. Karmostagi has led a business delegation from DEDC. The objective of the meeting was to exchange views on business opportunities between India and Dubai and to explain services offered by DEDC for manufacturing and to make Dubai the export hub. 

Mr. Karmostagi said that India was one of the highest export market for Dubai riding on the back of burgeoning export of bullion. He also said that Dubai offered access to a market of outstanding potential for overseas companies in a wide range of sectors, such as precious metals & stones, iron & steel, aluminium, ceramics, processed foods and mineral, fuels & oils, and  target services-aviation, BPO, education, consulting, financial, shipping, media, designing and e-governance. It has a market size with an annual domestic import base of US $ 17 billion and provides a gateway for re-export worth US $ 150 billion per annum catering to 1.4 billion population spread of regional geographies, Dubai is served by 170 shipping lines and 86 airlines. Dubai presents an open market with no exchange controls, quotas or trade barriers.  

Mr. Karmostagi also narrated the business promotion facilities in Dubai, such as legal cell, IT facilities, certification etc, which would help businesses to carry out their operations in a hassle free manner.

The others who spoke at the meeting included Mr. V C Jain, Co-Chairman, International Affairs Committee for Africa, West Asia & CIS, PHD Chamber and Mr Krishan Kalra, Secretary General, PHD Chamber.