In 2024, Sharjah stands as a pivotal investment hub for Indian businesses, marking a significant increase in the number of Indian companies operating within its borders. The emirate is poised to welcome around 20,000 Indian companies, reflecting a notable growth of 30% compared to the previous year. This article delves into the strategic importance of Sharjah for Indian investors and highlights recent initiatives aimed at bolstering this fruitful relationship.
Strategic Investment Appeal
According to Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry, Sharjah is strategically positioned as a preferred destination for Indian enterprises. Its comprehensive competitive advantages make it a favorable choice for investment. Indian investors have become integral to the business landscape in the emirate, with approximately 2,000 new companies joining the Sharjah Chamber in 2024. Consequently, the total number of Indian companies operating in Sharjah now stands at around 20,000, achieving an impressive increase of approximately 30% compared to 2023.
Robust Export Activity
The growth of Indian businesses in Sharjah is further underscored by significant trade figures. The value of exports and re-exports from Sharjah to India reached around 576 million dirhams, based on certificates of origin issued by the Sharjah Chamber. This vibrant trade activity illustrates the strong economic ties between the two regions, fostering a mutually beneficial partnership.
Promoting Economic Collaboration
This development was discussed during the Sharjah-India Business Forum, organized by the Sharjah Chamber in Mumbai. The event marks the beginning of a commercial mission led by the chamber, which includes 15 local companies spanning various economic sectors. The mission aims to expand the presence of local businesses and the private sector in Indian markets, showcasing the unique investment opportunities available in Sharjah across different fields.
Engaging Stakeholders
The forum saw participation from numerous notable figures, including Abdullah Al Owais, second vice-chairman Walid Bu Khatir, board member Jamal Bin Huwaiden, and other key stakeholders from the local business community. Their discussions centered on enhancing economic and trade collaboration between Sharjah and India, exploring partnership opportunities in critical sectors such as manufacturing, information technology, healthcare, renewable energy, logistics, education, and tourism.