Posted on October 20, 2022
DP World recently hosted “The India-UAE Bridge; Dubai – India’s Gateway to the World” along with the Confederation of Indian Industry (CII) for key business leaders in Mumbai to showcase the role of Jebel Ali Port and Free Zone in boosting non-oil trade between the UAE and India to $100 billion over the next five years, complementing the Comprehensive Economic Partnership Agreement (CEPA), according to the company’s release.
Trade between the two nations has existed for decades and continues to deepen with the signing of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) in February 2022. The CEPA, which officially came into force on 1 May 2022, includes eliminating tariffs on more than 10,000 products and services over the next 10 years, which will have an enormous impact on trade between the two countries and the wider Gulf region.
Despite macroeconomic and geopolitical headwinds across the globe, India and the UAE have seen an increase in trade, with DP World as a key logistics enabler. As per the Indian Ministry of Commerce and Industry, India’s non-oil trade with the UAE witnessed a 14% increase during the July-August 2022 period, just months after the CEPA came into force.
DP World is also supporting the ‘Make in India initiative’ and ‘Production Linked Incentive’ schemes to boost manufacturing, investments, and exports in India via its Jebel Ali hub, offering unmatched logistics and trade solutions and greater access to new markets.
In 2021, Dubai accounted for 86% ($38.4 billion) of the total $44.8 billion worth of total non-oil trade between the UAE and India. Indian companies at Jafza are the second largest partners in terms of trade volume (4.4 million metric tonnes) and fourth for trade value ($6.5 billion).
The Jebel Ali Port and Jebel Ali Free Zone (Jafza), which form a world-class, integrated ecosystem for over 9,000 companies from around the world, serve more than 3.5 billion people globally by connecting directly to 150 ports and more than 180 shipping lanes.
Through its joint investment platform with India’s National Investment and Infrastructure Fund (NIIF), DP World will invest up to $3 billion to create world-leading integrated logistics infrastructure for India.
DP World’s portfolio of multimodal logistics assets and services includes five port terminals with a total annual capacity of 6 million TEUs, as well as five container freight stations. It also operates 31 container trains, seven rail-linked private freight terminals, Cold Chain facilities and a fleet of 60 trucks.
DP World is currently developing three free-trade zones, more than 20 built-to-suit warehouses and 100+ hubs for express cargo. Its feeder service, Unifeeder is the largest coastal shipping player in India with more than 70% market share of coastal traffic.
Alongside physical infrastructure, customers and exporters can use DP World’s single-window digital platform CARGOES.com to book freight seamlessly, receive instant quotes online and choose preferred modes of transport.
Indian manufacturers can reach buyers from UAE, the Middle East and Africa through Bharat Bazaar, a world-class traders’ market linked to Jebel Ali Free Zone where they can store, showcase, and sell their products. With a full array of solutions on offer like storage, handling, packaging and logistics, Indian manufacturers have the flexibility to sell locally in Dubai or to export to other countries.