Sharjah Investment Forum 2024 Strengthens UAE-India Economic Partnership

The 7th edition of the Sharjah Investment Forum (SIF 2024) concluded yesterday after two days of vibrant discussions centered around the theme, “A Futuristic Vision for Smart Economies.” The event attracted more than 80 prominent global speakers and hosted over 100 sessions, including keynote addresses, panel discussions, and interactive workshops, making it a premier platform for dialogue on the future of global trade and investment.

Highlighting UAE-India Economic Collaboration

This year’s forum stood out for its strong representation from Indian business leaders and investors, reflecting the increasingly important economic relationship between the UAE and India. Indian delegates emphasized their interest in Sharjah’s evolving investment landscape, which is attracting significant Indian investments.

Raghavan, Chief Representative of the Confederation of Indian Industry (CII) in the UAE, expressed his positive experience at the forum, stating, “I found the Forum very useful in updating myself on the investment avenues and opportunities in Sharjah for Indian businesses and industries. Sharjah has already attracted significant Indian investments into both the Hamriyah Free Zone and the Sharjah International Airport Free Zone.”

With Indian businesses already making their mark in Sharjah, particularly in its free zones, the forum underscored the immense potential for further collaboration and growth.

UAE Initiatives to Boost Foreign Investment

Abdullah bin Touq Al Marri, UAE Minister of Economy, shed light on the recent governmental efforts aimed at facilitating foreign investment, with India being a key focus. He highlighted several initiatives, including amendments to the UAE’s Commercial Companies Law that now permit 100% foreign ownership, alongside updated visa and residency regulations. The introduction of the Federal Law on Family Businesses was also discussed, which is designed to encourage investment by enhancing legal protections for investors.

These progressive measures are anticipated to stimulate further Indian investments, particularly as businesses explore opportunities to expand into the Gulf Cooperation Council (GCC) and African markets, leveraging the UAE’s strategic location as a hub for global trade.

Comprehensive Economic Partnership Agreement (CEPA): A Gateway to Bilateral Growth

One of the most anticipated sessions at the forum was titled “CEPA: Unlocking New Horizons for Bilateral Trade and Investment.” This session explored the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India. Led by Ayoub Ahli, Advisor at the UAE Ministry of Economy, and Lalu Samuel, Chairman of the Indian Business Council in Sharjah, the session detailed how CEPA is facilitating deeper bilateral trade ties across key sectors such as technology, agriculture, and manufacturing.

During the discussion, CEPA was highlighted as a crucial factor for supporting small and medium-sized enterprises (SMEs), especially Indian SMEs aiming to access GCC markets. The UAE is increasingly seen as a strategic gateway for Indian manufacturers, offering them greater market access within the region.

With over 3,000 Indian businesses currently operating in Sharjah, forum participants underscored the potential for even more growth, driven in part by India’s expanding middle class, which is expected to demand more UAE-made goods in the future.

SIF 2024: A Hub for Investment Insights

Organized annually by the Sharjah FDI Office, the Sharjah Investment Forum is regarded as one of the leading investment conferences in the Middle East and North Africa (MENA) region. SIF 2024 tackled a wide spectrum of critical topics, including finance, renewable energy, future technologies, and the evolving skills needed in today’s rapidly digitalizing world. Speakers and panelists shared valuable insights, highlighting the importance of smart economies in ensuring sustainable global development.

As the forum drew to a close, attendees left with a wealth of knowledge and practical insights into the burgeoning economic opportunities between the UAE and India. With Sharjah positioning itself as a key destination for investment in the region, the event reinforced the role of cross-border collaboration in driving future growth.