Dubai has become one of the most favoured locations for Indian startups and entrepreneurs due to the business-friendly environment, appropriateness of the location, and successful growth of the innovative ecosystem. Such policies like the 3033 Plan enabling innovation and human capital in strategic industries like manufacturing, logistics, financial services and tourism, are preparing the ground for Indian companies to go on a global level.
These opportunities were highlighted at the UAE-India Founders’ Retreat that was held last week, aimed at helping 65 Indian founders and business leaders understand the potential of working with the UAE. Initiated by the UAE Embassy in India, UAE-India CEPA Council, and Offline, presented the city’s opportunities, focusing on the investment potential; 65 major Indian businessmen and businesswomen came to UAE to delve into the opportunities for cooperation.
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Strengthening UAE-India Economic Ties
During the occasion, UAE Ambassador to India Dr. Abdulnasser Alshaali assured the UAE’s further focus on the development of investment relations with India. He stressed on the increase in fields including information technology, supply chain, and IT enabled services, which have shown signs of growth after PM Narendra Modi’s visit in 2015.
Essa Kazim, the Governor of DIFC, has pointed out that the other Indian financial organizations like State Bank of India and ICICI are perfectly interwoven the life of the Dubai’s financial market. Thus, a very good ground has been created for Indian startup to venture and grow in the cut throat competition of Dubai.
Why Indian Entrepreneurs Should Choose Dubai
In fireside chat, the head of Economic Development at the Department of Economy and Tourism in Dubai – Hadi Badri, described why Dubai can be truly the perfect starting point for Indian startups.
- Familiarity: Strong social networks, an established community, and acquaintances all help make the new generation of federates comfortable within the country.
- Supportive Framework: Lawyers and consultants in Dubai help Indian businesses ease the process of having operations.
- Global Exposure: The region benefits from Dubai’s multicultural environment for the testing of respective startup products compatible with the international market.
”Dubai is our next door neighbour it’s not a flight from India but it is growth to newer horizons,” remarked Varun Dua, the CEO and Co-Founder of Acko Insurance.
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Growth Opportunities under Dubai’s 3033 Plan
Dubai’s 3033 Plan outlines the specific areas where the growth is to be boosted including the manufacturing sector, logistics, financial services, and tourism so that the startups can easily implement the vision of the city. Dubai can be indeed considered a great place for wholesale transformation in the light of the 4th world ranking in visitor arrivals and a booming economy opens up opportunities for businesses as well as for families for all round development.
Regulations that Encourage Innovation
Dubai has implemented unique measures, including the formation of the globally first independent Virtual Asset Regulatory Authority in newly developing areas such as blockchain and cryptocurrency. The open market polices mean no area is reserved, and this enables Indian startups to emerge in the gig economy, logistics technology, and health technology markets.
A Dynamic Launchpad for Global Success of Indian Startups
For any Indian entrepreneur, Dubai offers the benefit of the global environment while retaining a cultural connection. It is a famous market that supports diversity, provides opportunities for scaling businesses and allows to increase the revenues many times using Dubai’s infrastructure.
It is a business hub as stated and underlined at the UAE-India Founders’ Retreat, but a place where people are more than willing to chase their dreams and be great. For the young Indian companies seeking to enter the global market the emirate represents a door to success.