India and United Arab Emirates (UAE) enjoy strong bonds of friendship based on age-old cultural, religious and economic ties between the two nations. Backed by the political and people-to-people interactions, bilateral trade continued to soar despite global headwinds.
The balance of trade volume between India and the UAE is now worth $57 billion, making India the largest trading partner of the UAE, while the UAE is India’s third largest trading partner – after China and the US. 2018 saw a flurry of investments by UAE companies in India, and the UAE-India relationship has entered a vibrant growth phase with bilateral trade on track to exceed $100 billion by 2020. UAE hosts one of the largest Indian expatriate community in the world, comprising more than 3.3 million people. The UAE is currently the largest source of remittances to India that amounted to $13.82 billion in 2017.
The Economic Times launched the India-UAE Strategic Conclave in 2017 when a new life had been infused in the age-old ties between the two nations by the signing of the comprehensive strategic partnership agreement. Much has been achieved since then and there has been sustained efforts by both sides to elevate this relationship further by involving stakeholders from political, diplomatic, business, trade and cultural circles.
The India-UAE Strategic conclave has now moved beyond the coming together phase and moved into a working together phase. The objective of the third edition of this important conclave is to understand how the two nations can work hand in hand in a VUCA environment amidst a changing world order. With growing protectionism and realignment of trade equations across the globe, the two natural leaders in the region need to work together more than ever before and set and achieve sustainable and inclusive development goals soon.
The Economic Times India Leadership Council is an exclusive membership-based networking platform, with access only to senior corporate leaders from across industries and geographies. This is envisaged as an exclusive peer group platform working towards the end goal of bringing change in the India’s business environment.
Hand-picked members of the India Leadership Council from sectors which are of high interest for their counterparts in UAE will attend a special breakfast roundtable session before the beginning of the conference. Participants include senior diplomats, business leaders from UAE, Indian diaspora leaders in the UAE and government officials along with the ILC members.
The theme for this years’ breakfast session is “Old Relationship – New Opportunities”. Apex Investment agencies from both countries will showcase specific opportunities and deliberate with the leaders on how to enhance cooperation and facilitate ease of doing business on both sides.
Dubai has a track-record of successfully hosting world-class business events, thanks in part to the spirit of cooperation which exists between the government, industry and local communities.
The ‘world’s next door neighbour’, at the crossroads of Africa, the Middle East and Asia, Dubai offers easy access to many of the world’s largest and fastest-growing economies. One-third of the global population is within four hours flying-time and two-thirds are within eight hours.
The competitive advantages of choosing Dubai are numerous: a leading international centre for business, commerce, industry and tourism, with a dynamic workforce and a government which continues to invest in strategic infrastructure and transportation projects to ensure a prosperous economic future.