MUMBAI, October 11: Global logistics major DP World has offered 60 percent discount to Indian companies to set up operations at its incubation center dedicated for
exporters of Asia’s third largest economy.
The incubation centre is a custom-made platform for talented Indian entrepreneurs seeking business collaboration with potential partners in the Middle East, Africa, South Asia and Central Asia.
“DP World has set up India Business Incubation Center two years ago for Indian exporters to serve as their gateway to the world market. We offer 60% discount to Indian companies seeking to set up operation in this Incubation Center,” said Amitesh Mishra, Manager – Business Development, DP World at an interactive session for traders and exporters organized by MVIRDC World Trade Center Mumbai
Global distribution center at Dubai is the 3rd largest re-export hub after Hong Kong and Singapore and around 10 percent of the world trade passes through Dubai.
This Center is located at the 11th largest port in the world -- Jebel Ali, which also has the largest free zone in the Middle East with around 8700 companies. Of these over 1100 or 14 percent are Indian companies, Mishra said.
Moreover, there is no corporate tax for Indian companies setting up re-exporting units in India Business Incubation Center.
“We are also developing key-side agro processing and storage facilities to enable Indian agro-processing companies to bring their goods, process them and re-export to the world,” Mishra said adding that exporters of other commodities too can set up re-export centers in Jebel Ali.
DP World is planning to set up 1200 km railway line to connect entire GCC countries and this will enable Indian companies to transport goods through rail within the GCC duty-free, he said.
Back home in India, DP World has already invested USD 1.2 billion here and has committed USD 3 billion in rail service, free zone, Inland Container Depots, cold storage and other logistics infrastructure as also in setting up free trade zones in Mumbai, Chennai and Cochin.
Earlier in his welcome remarks, Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai pointed out, “India’s bilateral trade with UAE has grown from a mere USD 180 million in 1970s to more than USD 72 billion last year and it is on course to touch USD 100 billion in the next few years. But our two-way investment is more lopsided as we attracted hardly USD 18 billion investment from UAE, while our companies have deployed around USD 85 billion. UAE can explore untapped investment opportunity in India in the manufacturing sector. Abu Dhabi Investment Authority (ADIA) can set up office in India to explore more investment opportunities in India.”
Dr. Kalantri suggested Indian exporters to consider UAE as a gateway to their global market by benefitting from its liberal business regulatory regime. He further informed, “We have organized roadshows in the past in Dubai to grow our commercial relations and we assure all possible trade facilitation support to strengthen our relation in future as well.”
“MVIRDC WTC Mumbai has recently established a Center of Excellence for imparting professional and vocational skills and also for developing entrepreneurship among aspiring youth, women and start-up enterprises. We propose to collaborate with DP World to impart skills on foreign trade, logistics and also to connect our local entrepreneurs to potential business partners in foreign countries.”