At the recently concluded India-UAE summit, some major progressive steps are taken to boost investment opportunities and expanding economic collaborations between the two nations. In the opinion of top lawyers of Dubai, this summit holds substantial importance as it offers great business opportunities for the prospective investors. In this article, we will discuss the major highlights of this summit, and how does it offer a bright business opportunity for you.
Highlights of the India-UAE Summit
In the words of best lawyers of UAE, this summit has opened some new and attractive horizons of investment by setting up dedicated investment zones in both the countries. Since Dubai is the global hub of investment, it will be an epic entre for pooling up investments in the country from the Indian entities.
A Comprehensive Economic Partnership Agreement (CEPA) is executed between the 2 nations, which intends to generate 1 million jobs by setting up numerous business units in both the countries. This agreement will emphasis on free trade in major sectors such gems, textiles, sports goods, etc.
Dubai will witness an exponential rise in the business as a joint venture is on the cards for setting up a food corridor in the Emirate. Further, a dedicated Indian Mart will be established in Ali Free Zone, in Dubai.
In the Emirates of Abu Dhabi, special investment opportunity will be generated for the Indian Investors. The government is committed to establish specialised industrial advanced technological zones with a special emphasis on logistics & services, pharmaceuticals, medical devices, agriculture, agri-tech, steel, and aluminium sector. The food & agriculture trade of the country is going to be all time high after this summit.
For start-ups, it is resolved that both the countries will promote them by providing necessary technological and financial aids. With a motive to create a special niche for research and technology in UAE, an Indian Institute of technology (IIT) will be set up. Further, both the countries will mutually promote e-business and e-payment solutions. A joint Hydrogen Task force will be established to promote collaboration and support India’s energy requirements. From this joint statement, it is evident that the future of businesses operating in the energy sector is very bright.
How can you exploit this opportunity?
As discussed above, a large-scale investment is coming up in the country with new business avenues supported by the government. Some major target investment sectors are gems & jewellery, digital payment gateway, clothes & textile, food & agriculture and energy & infrastructure. You can exploit the sector by setting up a business unit (preferably a mainland company) with the help of best company formation lawyers of Dubai.
The formation of company can be done without any hassles with the help of top company formation law firm of Dubai. The steps involve in formation are as follows-
- Choose a trade name of your company;
- Obtain initial approval from the regulatory department;
- Draft and submit essential documents, such as Memorandum of Association, Local agent agreement, etc;
- Obtain the final trade license.
In Short
Undoubtedly, with this summit, a lot of business is coming to UAE pertaining to various sectors. You can exploit this golden opportunity by setting up a company thereon with the help of best company formation lawyers of UAE. While setting up, it is important to draft crucial agreements very carefully, such as MOA, AOA, etc. BSB Legal is one of the best law firms of UAE with its lawyers having rich experience in drafting important agreement, taking necessary approvals, and handling post-incorporation compliances. To register your company with BSB legal, contact us now.