Blitz Bureau
NEW DELHI: In a significant step towards enhancing bilateral trade and investment, the UAE-India Business Council – UAE Chapter (UIBC-UC) and the Maharashtra Industrial Development Corporation (MIDC), Government of Maharashtra, have entered a strategic partnership, formalized through the signing of a MoU on January 31.
The MoU was signed during the “UAE – India: Partnership for Enduring Prosperity” event, held at the Waldorf Astoria in Ras Al Khaimah, aimed at highlighting growing ties between India and the UAE across sectors like manufacturing, tourism, and hospitality. This event was part of a wider celebration of India’s 76th Republic Day organized by the Consulate General of India. MoU Signed at ‘UAE – India: Partnership for Enduring Prosperity’ event in the presence of His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah.
Aimed at opening new doors for investment and trade between the UAE and Maharashtra and fostering deeper collaboration between UIBC-UC members and the state, this powerful partnership is supported by the UIBC-UC’s network of 18 founding members, representing a collective force of leading Indian and Emirati businesses. With over USD 1 trillion in assets under management, these organizations are poised to significantly influence the economic growth and prosperity of both regions.
The agreement establishes a comprehensive framework for cooperation, encouraging regular interactions between UIBC-UC members and Maharashtra Government officials, including the Chief Minister Devinder Fadnavis. The collaboration will focus on improving the ease of doing business for UAE companies in Maharashtra. Both parties will also work to actively promote investment opportunities in the state to UAE businesses. Moreover, the MoU will facilitate the annual exchange of business delegations between the UAE and Maharashtra, fostering stronger ties and business relationships.
