Global logistics company DP World is offering 60 percent discount to Indian companies looking to set up operations at its Dubai incubation centre dedicated to exporters of Asia’s third largest economy.
The incubation centre is a custom-made platform for Indian entrepreneurs seeking business collaboration with potential partners in the Middle East, Africa, South Asia and Central Asia.
“DP World has set up the India Business Incubation Centre two years ago for Indian exporters to serve as their gateway to the world market. We offer a 60 percent discount to Indian companies seeking to set up operations in this Incubation Centre,” said Amitesh Mishra, Manager, Business Development, DP World at an interactive session for traders and exporters organized by MVIRDC World Trade Centre Mumbai.
The global distribution centre at Dubai is the third largest re-export hub after Hong Kong and Singapore and around 10 percent of the world trade passes through Dubai.
The Centre is located at Jebel Ali, the 11th largest port in the world, and home to the largest free zone in the Middle East with around 8,700 companies. Of these over 1,100 or 14 percent are Indian companies, Mishra said.
Moreover, there is no corporate tax for Indian companies setting up re-exporting units in India Business Incubation Centre.
“We are also developing quay-side agro processing and storage facilities to enable Indian agro-processing companies to bring their goods, process them and re-export to the world,” Mishra said, adding that exporters of other commodities also can set up re-export centres in Jebel Ali.
DP World is planning to set up a 1,200 km railway line to connect entire GCC countries and this will enable Indian companies to transport goods through rail within the GCC duty-free, he said. Vijay Kalantri, Chairman, MVIRDC World Trade Centre Mumbai said that: “India’s bilateral trade with UAE has grown from a mere $180 million in the 1970s to more than $72 billion last year and it is on course to touch $100 billion in the next few years. But our two-way investment is more lopsided as we attracted hardly $18 billion investment from UAE, while our companies have deployed around $85 billion. UAE can explore untapped investment opportunities in India in the manufacturing sector. Abu Dhabi Investment Authority (ADIA) can set up an office in India to explore more investment opportunities in India.”
