India’s development into a logistics center will ensure further growth: JAFZA CEO Daminthan

India’s development into a logistics hub will continue to drive growth, said Abdulla BinMithan, CEO and General Manager of DP World UAE & Jebel Ali Free Zone (JAFZA). Mithan stressed that the comprehensive economic partnership agreement would allow for more growth opportunities between the two countries.

India signed CEPA with the United Arab Emirates in 2022. Trade between the two countries rose to $84 billion in the last fiscal year, and Mithan is confident it will surpass $100 billion within a year or two.

“India’s government is doing a great job of increasing capacity and you can see the improvement in infrastructure and roads,” Mithan said Thursday on the sidelines of a Confederation of Indian Industry (CII) event.

Mithan stressed JAFZA’s commitment to Indian companies and hoped that India’s presence in the free zone will increase significantly in the near future.

Currently, Indian companies account for 12% of all company formations in JAFZA. Mithan said the number of companies could triple in the near future.

“India is the second largest trading partner of the UAE. With the CEPA, we have seen that things are moving quickly,” emphasized Mithan.

He reiterated that Dubai will soon launch the Bharat Bazaar – a dealer market initiative for Indian companies announced last year.

“By showcasing Indian products alongside Turkish, Chinese and other products, we enable the customer to access Indian-made supplies,” he said, noting that Indian companies have keen interest in the project and JAFZA has been working with the Indian government on the project.

Mithan also said that JAFZA is also working to provide Indian agribusiness businessmen with an agricultural terminal to set up a facility in the country.

DP World is a Dubai-based multinational logistics company with significant investments in India. It is part of the development of three free trade zones in the country and operates many major port terminals.

In February, the company was awarded the Deendayal Port Authority’s public-private partnership (PPP) contract for the development, operation and maintenance of Tuna-Tekra – a mega container terminal.

Related Articles

Back to top button