RAKEZ unveils its India office in Mumbai, aims to boost India-UAE ties
With 3, 000 Indian companies operating at RAKEZ, the new beginning aims to contribute in strengthening India’s trade ties with UAE.
In a bid to strengthen ties with overseas clients, Ras Al Khaimah Economic Zone (RAKEZ) has inaugurated its new India office at strategically important Bandra Kurla Complex in Mumbai. Spread over 33 million square metres, over 13,000 companies representing 50 different sectors from 100 countries are operational at Rakez. There are 3,000 Indian companies including Ashok Leyland, GK Technologies and Dabur have their presence in the plug-and-play free trade zone.
RAKEZ is home to Indian companies from a wide range of industries, including manufacturing, trading and logistics, education, tourism, services and real estate. Nearly 3,000 Indian firms have already chosen RAKEZ because of its cost-effective environment, simplified processes, superior logistics and global connectivity.
The opening of the office in India was witnessed by His Highness Sheikh Ahmed bin Saqr Al Qasimi, RAKEZ Chairman, government representatives and senior industry leaders, reflecting RAKEZ’s growing role as a leading investment destination for Indian companies.
For thousands of Indian investors and firms looking for an easier and more cost-effective way to expand overseas, RAKEZ offers an easy way to get up and running, with fit-for-purpose infrastructure, reduced paperwork and proximity to neighbouring emirates and GCC countries.
Sheikh Ahmed bin Saqr Al Qasimi, RAKEZ Chairman, said, “This will provide a huge competitive edge they believe, to the Indian companies to compete with international markets as the cost of operations on set up as Ras Al Khaimah Economic would be reduced anywhere from 25 to 50%.”
“For a long time, India has been an important market for us -20% of the companies at RAKEZ are from India. That’s why we’ve chosen to open our new office here – because it brings us closer our clients and to the exciting diversity of businesses in this region, which I very much hope will soon join us and become part of the RAKEZ family,” added the chairman.
With entry of RAKEZ, it is expected that the bilateral trade between India and UAE will touch $100 billion by 2020 against $59 billion logged in 2016, the company stated.