Indian businesses lead UAE’s top business list again

Photo: Dubai Government Media Office

Indian-owned businesses continue to lead in the United Arab Emirates (UAE), holding the highest number of business licenses in the country. According to a report by the Ministry of Economy, there are over 1.29 million Indian-run businesses officially registered in the UAE. This makes Indian nationals the top group when it comes to business ownership.

This update was shared by Abdullah bin Touq Al Marri, the UAE Minister of Economy, during a meeting held in Dubai with Sunjay Sudhir, the Indian Ambassador to the UAE. The meeting focused on ways to improve trade and business partnerships between the two countries.

The UAE and India have been strong business partners for many years. In 2022, both countries signed a special trade agreement called the Comprehensive Economic Partnership Agreement (CEPA). This agreement made it easier to trade goods and services by reducing customs duties and removing other trade barriers. Because of this deal, trade between the two nations has grown a lot.

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In fact, non-oil trade between India and the UAE reached AED 188.8 billion in just the first nine months of 2023, which is an increase of about 7% compared to the same time in 2022.

Minister Abdullah bin Touq said that the UAE and India are working closely to make their economic ties even stronger. He also said that the UAE supports all Indian businesses and is happy with the role they play in the country’s growth.

Ambassador Sunjay Sudhir said he is proud of how much Indian companies have achieved in the UAE. He thanked the UAE leadership for always welcoming and supporting Indian businesspeople.

This strong relationship is helping both countries grow faster and build a better future together.