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Indian prime minister Narendra Modi, who claimed victory in the elections this week, says the corridor forms the 'basis of world trade for hundreds of years to come'

Dispute forum vital for trade corridor to work, says law officer

A robust forum for resolving disputes will be vital to the success of the planned  India-Middle East-Europe Corridor, a senior official from the Indian Supreme Court told delegates at an event in Abu Dhabi. Seven countries signed an agreement during the 2023 G20 Summit in New Delhi to establish an economic corridor connecting the Middle […]

Indian Hajj pilgrims say goodbye to relatives in Kashmir before leaving for Saudi Arabia

India’s Akasa Air to start Jeddah and Riyadh flights

Saudi Arabia has licensed Indian low-cost airline Akasa Air to begin flights this week as the Hajj pilgrimage begins, giving a further boost to the kingdom’s tourism plans.  The flights into Jeddah include two from Ahmedabad and 12 from Mumbai per week starting from 8 June, and seven into Riyadh from Mumbai per week starting […]

Modi UAE relationship

What Modi must do for India-UAE relationship to thrive

While Narendra Modi claims a rare third term as India’s prime minister, a raft of issues must be addressed for economic relations with the UAE to thrive. Despite the strong foundations laid, experts highlight ongoing concerns such as bureaucratic red tape, protectionism, sluggish investment and trade growth. The Modi-led Hindu nationalist Bharatiya Janata Party won […]

PM Narendra Modi greets supporters at BJP headquarters in New Delhi. He took office in 2014

642 million votes counted … now India can get back to business

Narendra Modi has claimed victory in India’s election – and many in the Gulf will be delighted at the prospect of a third Modi term. The prime minister’s pro-business credentials and economically liberalising tendencies remain credible, if battered, after 10 years in office.  His Bharatiya Janata Party did not perform as well as expected, however, […]

A Tata Motors car plant in Sanand, Gujarat. Zulfiquar Ghadiyali called on Indian manufacturers to 'show us you aren’t just here to take money away, you’re here to give it back and employ people'

Indian manufacturers urged to set up shop in UAE

The future of the UAE’s economic partnership with India hinges on more manufacturing taking place in the Gulf state, a senior executive from a royal family office has said. Zulfiquar Ghadiyali, managing director of Royal Arab Holdings, the business arm of the private office of Sheikh Tahnoon bin Zayed Al Nahyan, said Indian businesses were […]

Construction is one of the sectors most affected by the issue of late payments in the UAE

UAE official keen to address government payment delays

A senior UAE official is advocating for policymakers to reassess government payment schedules, citing the strain late payments places on the private sector. Omar Saif Ghobash, adviser to the UAE Ministry of Foreign Affairs and ambassador to the Holy See, told a panel at the India-UAE Business Forum in Dubai last week that the systemic […]

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met last year to improve trade relations, but red tape still hampers investment

India must cut red tape for investors, says Mubadala executive

Reducing red tape is critical to making India more attractive to global investors, an executive at Abu Dhabi’s sovereign wealth fund Mubadala has said. Sridhar Iyengar, chief financial officer of Mubadala’s Aerospace, Renewables and Information Communications Technology business, said the New Delhi government must enhance its bureaucratic efficiency to improve the pace at which projects […]

fractional property ownership Dubai Video length: 06:12

Dubai fractional ownership is promising, but untested

Fractional ownership of property in Dubai promises to widen access to real estate investment in the emirate’s surging market. But the lack of a proven secondary market raises questions about just how much liquidity this asset class can count on in a potential crisis, experts say. Buying even small portions of one or more units […]

The UAE subsidiary of India's UltraTech Cement will hold 61 percent in RAK Cement if the offer is successful

India’s UltraTech offers to boost stake in RAK Cement

India’s UltraTech Cement has offered to acquire a 31.6 percent stake in Abu Dhabi-listed RAK Cement Co for White Cement and Construction Materials (RAKWCT). The Indian cement producer’s wholly owned subsidiary in the UAE, UltraTech Cement Middle East Investments, bought a 29.4 percent stake in RAKWCT in April 2022 for $101 million. The UAE subsidiary […]

Indian prime minister Narendra Modi (left) completed a visit to the UAE in February to sign deals on trade cooperation

Indian investment in GCC falls despite increased trade

Investment from India into Gulf countries has dropped considerably despite growth in bilateral trade due to the country adopting a more protectionist approach. Trade between India and the group of six GCC countries – Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the UAE – reached almost 16 percent of the country’s total in the last […]

Mashreq has injected over $125 million so far into India, signalling its readiness to invest further

Mashreq explores presence in India’s new economic zone

UAE lender Mashreq is exploring setting up an office in India’s special economic zone, according to a media report. The bank is exploring opportunities beyond its current footprint, Tarek El Nahas, group head of international banking at Mashreq told Moneycontrol, an Indian financial news portal. The prospect of setting up a presence in the Gujarat […]

ADIA bid Haldiram

ADIA consortium bids for stake in India’s largest snack maker

A consortium including Abu Dhabi Investment Authority (ADIA) has submitted a bid to acquire a controlling stake in the snacks business of India’s Haldiram, according to a media report. The consortium, which also include US-based alternative asset manager Blackstone and GIC of Singapore, aims to secure 75 percent of the Indian company’s snacks unit, valuing it […]

Amit Arora the new CEO of Arada, says 'we are seeing a diverse group of investors and residents that want to buy in our communities'

Overseas buyers dominate in Sharjah’s reformed real estate

Overseas buyers in Arada’s two mega-developments in Sharjah have vastly outnumbered locals in the year-and-a-half since the emirate expanded full real estate ownership rights to non-GCC nationals. From when Aljada, Sharjah’s biggest mixed-use project, launched in 2017 until the land reform of late October 2022, Emirati nationals bought more than 63 percent of the value […]

SJP's chief investment officer Justin Onuekwusi, second from right, at the event in Dubai. Other speakers included, from left, Ben Powell of the BlackRock Investment Institute, Angelina Lai of SJP Asia and Middle East, and Robert Willock of the Economist Intelligence Unit

Wealth manager seeks Gulf growth despite setbacks in UK

St James’s Place, the UK’s largest wealth manager, plans to target local customers to expand its one-year-old Gulf operation as it seeks to brush off reputational setbacks in its home market. In February SJP disclosed that it had set aside more than $500 million for potential client refunds after an increase in complaints about its […]

Mukesh Ambani, chairman and managing director of Reliance Industries which will receive the investment from AIDA and US-based KKR

Abu Dhabi’s ADIA invests in Indian warehouses

The Abu Dhabi Investment Authority (ADIA) and the US-based private equity firm KKR have invested INR 12,000 crore ($1.5 billion) in India’s Reliance Retail Ventures’ warehousing assets.  Both companies have invested equal amounts in Reliance Logistics and Warehouse Holdings (RLWH), The Economic Times, an Indian financial daily, reported, citing informed sources.  RLWH was established in […]

The National Stock Exchange in Mumbai, India. Bahrain's Investcorp is investing in technology and IT services companies worldwide

Investcorp buys Indian tech company for $120m  

Bahrain’s alternative asset manager, Investcorp, is to acquire the digital technology business of India’s National Stock Exchange (NSE) for $120 million. NSEIT provides advanced digital transformation and cybersecurity services to global customers in capital markets, insurance and banking in India, North America and the Middle East. The services include digital engineering, data and analytics, artificial intelligence, cloud services […]

A view of Jebel Ali Port. Trade between the UAE and India rose from $72.9 billion to $84.5 billion between 2021 and 2023

UAE and India on track to hit $100bn non-oil trade

The UAE and India will surpass the $100 billion non-oil trade target by 2030, with increasing aviation links between the two countries seen as a potential catalyst. Bilateral trade increased by 15 percent since the comprehensive economic partnership agreement (Cepa) was implemented in May 2022, the Indian government-owned Press Trust of India reported, quoting Cepa council director […]

Zayed International airport's air traffic controllers have guided planes carrying at total of 6.8 million passengers in the first three months of the year

London and India dominate airport traffic in Abu Dhabi

London and Indian cities dominated traffic at Abu Dhabi’s airports during the first quarter with year-on-year visitor numbers up by more than a third. Close to 7 million passengers passed through the emirate’s five airports in the first three months of the year. Zayed International airport, formerly known as Abu Dhabi International airport, welcomed 6.8 […]

A silver trader in his shop in Ahmedabad, India. India is sourcing an increasing amount of its silver from the UAE

India’s silver imports from UAE on the rise

Supplies of silver to India from the UAE have increased this year, as the Emirates’ exporters benefit from an agreement signed between the countries two years ago. The India-UAE comprehensive economic partnership agreement signed in 2022 has significantly boosted imports, according to a report by Indian English-language business newspaper The Financial Express.  The UAE route […]

Khalifa Port in Abu Dhabi. Imeec aims to integrate railway routes and link ports along a route spanning from India to Europe

UAE and India to discuss first phase of trade corridor

Senior officials from the UAE and India will meet next month to start work on the first phase of the India-Middle East-Europe Economic Corridor (Imeec), according to a media report. The officials are slated to meet on May 15 after UAE president Sheikh Mohamed bin Zayed Al Nahyan and Indian prime minister Narendra Modi signed […]