India-UAE trade increase
DP World recently co-hosted with the Confederation of Indian Industry (CII) an event in Mumbai entitled ‘The India-UAE Bridge; Dubai – India’s Gateway to the World’ for key business leaders to showcase the role of Jebel Ali Port and Free Zone in increasing non-oil trade between the UAE and India to $100bn over the next five years, complementing the Comprehensive Economic Partnership Agreement (CEPA).
Trade between the two countries has existed for decades and continues to deepen following the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India in February 2022. The CEPA, which officially came into force on 1 May 2022, provides for the elimination of tariffs on more than 10,000 goods and services over the next 10 years, which will have a huge impact on trade between the two countries and the Gulf region as a whole. Despite macroeconomic and geopolitical challenges around the world, India and the UAE have seen trade growth, with DP World being a key provider of logistics services. According to India’s Ministry of Commerce and Industry, India’s non-oil trade with the UAE increased by 14% between July and August 2022, just months after CEPA came into force.
DP World also supports the ‘Make in India’ initiative and the ‘Production Linked Incentive’ scheme to drive manufacturing, investment and exports in India through its Jebel Ali hub, offering unrivalled logistics and trade solutions and greater access to new markets.
In 2021, Dubai accounted for 86% ($38.4 billion) of total non-oil trade between the UAE and India worth $44.8 billion. Indian companies in Jafza rank second among partners in terms of trade volume (4.4 million metric tons) and fourth in trade value ($6.5 billion).
Jebel Ali Port and Jebel Ali Free Zone (Jafza), which forms an integrated world-class ecosystem for more than 9,000 companies from around the world, serves more than 3.5 billion people worldwide, directly connecting to 150 ports and over 180 shipping lanes.
Through a joint investment platform with the National Investment and Infrastructure Fund of India (NIIF), DP World is investing up to USD 3 billion to build the world’s leading integrated logistics infrastructure for India.
DP World’s portfolio of multimodal logistics assets and services includes five port terminals with a total capacity of 6 million TEUs per year, as well as five container freight stations. The company also operates 31 container trains, seven private freight terminals connected to the railways, Cold Chain facilities and a fleet of 60 trucks.
DP World currently develops three free zones, more than 20 ready-to-use warehouses and more than 100 hubs for express freight. Its Unifeeder feeder service is the largest coaster player in India, with a market share of over 70% in coaster freight.
Alongside the physical infrastructure, customers and exporters can take advantage of DP World’s CARGOES.com digital single window platform for seamless cargo booking, instant online quotes and selection of preferred modes of transport.
Indian manufacturers can connect with buyers from the UAE, Middle East and Africa through Bharat Bazaar, a world-class trading marketplace linked to the Jebel Ali Free Zone, where they can store, display and sell their products. With a full range of solutions on offer, such as storage, handling, packaging and logistics, Indian manufacturers are able to sell their products in Dubai or export them to other countries.
DP World’s Jebel Ali Port and Free Zone key to boosting India- #UAE trade to $100 billion over the next five years, complementing the Comprehensive Economic Partnership Agreement (CEPA). https://t.co/cPsCQDbpxx pic.twitter.com/BYOs1fyvrD— Dubai Media Office (@DXBMediaOffice) October 19, 2022
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