Sheikh Hamdan in India: We have been waiting for you, says minister
Dubai Crown Prince His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum received praise from an Indian minister who termed the visit “symbolic” while stressing the cooperation spanning over generations.
Indian Minister of Commerce and Industry Piyush Goyal warmly received Sheikh Hamdan, noting that “someone we have been waiting for, for a long time” was in attendance at the occasion on Tuesday in Mumbai organized by the Dubai Chambers.
“Thank you very much for your gracious presence in my home city,” Piyush Goyal said to Sheikh Hamdan. “I would like to express my gratitude to you on behalf of our nation as we are welcoming today a youth icon, Fazza. He is a man with a heart of gold and always the first to be of help to anybody who needs it.”
Alongside Goyal, Sheikh Hamdan discussed advancing cooperation covering trade, energy, investment, manufacturing, logistics, technology, healthcare and other sectors for further partnerships between the nations.
“Sheikh Hamdan said, ‘India and the UAE share more than strong economic ties; we share a bold vision for the future. We share strong relationships that are premised on trust, innovation, and mutual commitment towards building resilient, progressive economies that advance prosperity and welfare of the people of the two countries.’”
"As we advance our collaboration in a number of critical areas, we not only are expanding new avenues of expansion, innovation and excellence, but are also building a new paradigm of bilateral partnership relations."
A historic connect
The timing of Sheikh Hamdan’s visit was very ‘symbolic’ to strengthen “a big historic connection” between the two markets, Goyal stated. “There is a generational continuance,” he said. “This is the fourth generation of his family who is visiting [the country]. This is the 100th year anniversary of the visit of Sheikh Saeed [the great grandfather of Sheikh Hamdan] to India].”
During his official visit to India for two days, he met PM Narenda Modi during which both parties sought opportunities aiming at enhancing the benefits of Comprehensive Economic Partnership Agreement, (Cepa) and Bilateral Investment Treaty, (BIT).
As part of his visit, Dubai Chambers staged a Dubai-India business forum that provided access to more than 200 business leaders and stakeholders from both countries to discuss cooperation trade opportunities. Ahmed bin Byat, Vice Chairman of the entity, remarked Sheikh Hamdan’s visit was a step towards something greater. “I am confident this will not be his last visit,” he said. “This is a relationship that we treasure and will nurture going forward.”
India moved up in Al Husan’s global rankings from 20th place for gross non-oil trade with the UAE to 13th. In 2024, the figure surpassed Dh240 billion, representing a phenomenal growth of 20.5% compared to Dh199.3 billion in 2023. This remarkable increase showcases deepening economic relationships and tremendous trade and investment potential. The CEPA agreement between the UAE and India, which was signed in 2022, seeks to boost non-oil trade to $100 billion by the year 2030.
Right Environment
Businessmen from India residing in the UAE expressed their appreciation regarding the country’s visit, including one who noted that the visit was nurturing the “right environment” for businesses. Tech billionaire Div Turakhia further added: “The fact that this meeting is happening at the leadership level of both counties is extremely encouraging for creating the right investment environment. Both countries can mutually benefit from each other in various ways. For Indian companies, Dubai is the gateway to access the entire world.”
Essa Abdulla Ahmad Al Ghurair, the Emirati businessman, said that he was part of the Dubai delegation that had 39 entrepreneurs of UAE. He described the conference and the visit as “a journey” in building relationships and claimed that his firm is willing to extend its business interests in India.
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