The Dubai Multi Commodities Centre (DMCC) is ramping up efforts to attract Indian companies to Dubai following a successful roadshow in New Delhi and Mumbai.

Leveraging the momentum of the recently implemented Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India, DMCC is promoting its free zone as a launchpad for Indian businesses seeking international expansion.

The UAE’s bilateral trade with India has significantly boosted, surging 16% in 2023 after CEPA’s introduction. This growth is reflected in DMCC’s membership base, with Indian companies now comprising 16% (3,888 businesses) of its total members.

“The UAE-India landmark CEPA agreement eliminated duties on 90 percent of India’s exports,” said Ahmed Bin Sulayem, DMCC’s CEO. “Over 160 new Indian companies joined DMCC last year to add to the almost 3,900 Indian companies across our district, with bilateral trade set to surpass US$100 billion within the next five years.”

During the roadshow, DMCC executives met with over 200 Indian government officials and business leaders, highlighting Dubai’s pro-business environment, its role as a global trade hub, and the advantages of establishing a presence at DMCC.

India and South Asia are strategically important for DMCC, particularly in the technology, commodities, and agriculture sectors. The free zone signed several partnerships last year, including one with the Bharat Subcontinent Agri Foundation, to bolster the global agricultural trade.

DMCC’s roadshow program highlights Dubai’s position as a leading destination for foreign direct investment (FDI). DMCC contributes 11% of Dubai’s annual FDI and welcomed nearly 2,700 new companies in 2023, making it the free zone’s second-best year on record.