Sharjah, India to foster economic ties

The Sharjah Chamber of Commerce and Industry (SCCI) has discussed ways to expand collaboration in the industrial sector with the Federation of Indian Chambers of Commerce and Industry (FICCI), as part of its ongoing efforts to foster economic partnerships with high-potential markets.

The discussions were held during a meeting with a delegation from FICCI at the Sharjah Chamber’s headquarters. The meeting was attended by Ali Al Jari, Director of SCCI’s Sharjah Exports Development Centre (SEDC), and Hiba Al Marzouqi, Head of Business Councils and Joint Committees Section at SCCI.

The meeting focused on enhancing industrial cooperation, facilitating the exchange of knowledge and expertise between both sides, and exploring promising investment opportunities.

The Sharjah Chamber highlighted the comprehensive range of services it provides to investors. This includes offering essential information and support for setting up businesses, facilitating access to local and regional markets, and hosting events and forums to enhance communication between Sharjah’s business community and its counterparts in India.

It also affirmed its commitment to fostering stronger ties with the Indian business community, with a particular emphasis on the industrial sector.

As Sharjah accounts for nearly 35 per cent of the UAE’s factories, the emirate stands out as a vital industrial centre in the country. This focus aligns with the rapid growth in the sector and underscores the strategic importance of India as a key trade and investment partner for the UAE in general and Sharjah in particular.

The Sharjah Chamber emphasised the emirate’s vast potential in the industrial sector and the supportive business ecosystem offered by Sharjah’s investment-focused entities. Through tailored facilities and essential support, the emirate seeks to attract Indian investors, enhance economic cooperation, and drive mutual growth and prosperity.

The meeting outlined the latest figures and indicators related to the industrial sector in Sharjah. This includes the emirate’s recording of approximately $18.9 million in capital expenditures for foreign direct investment in manufacturing in 2023, reflecting strong investor confidence in Sharjah’s potential.