New Deal Seeks To Boost Entrepreneurship Between India And UAE

An event in India’s Mumbai discussed the opportunities for Indian founders and start-ups to take part in the UAE-India CEPA Start-up Series.

Reportedly, the Start-up Series is a high-impact platform created to fast-track cross-border growth, collaboration, and market access, media reports said.

The event was organized by the UAE-India CEPA Council (UICC) in partnership with the Embassy of the United Arab Emirates in India.

Abdulnasser Alshaali, the UAE Ambassador to India, said the UAE seeks to foster a dynamic and innovation-fueled partnership between both nations. He noted that the entrepreneurial energy is a key focus of this partnership.

New Deal Signed Between Indian And UAE Groups

An agreement between the UAE-India CEPA Council and the Society for Innovation and Entrepreneurship (SINE) was signed at the event.

The agreement aims to identify and support high-potential start-ups from the SINE ecosystem and alumni network for participation in the Start-up Series.

Director of the UAE-India CEPA Council, Ahmed Aljneibi, said, “The Start-up Series is another step forward in transforming the UAE-India partnership into a launchpad for next-generation entrepreneurship and cross-border innovation.”

The Start-up Series follows a robust economic partnership between the UAE and India. Data revealed that bilateral trade between the two reached USD 83.64 billion in FY 2023-24.

It marks a 15 percent surge in comparison to the previous year, since the CEPA began.

India And UAE: More Than Trading Partners?

India’s exports to the UAE rose by over 20 percent, while the foreign direct investment of the UAE in India surged by almost three times.

In FY 2021-22, the FDI by the UAE was USD 1.03 billion; it became USD 3.35 in FY 2022-23, which makes the UAE the fourth-biggest investor in India, reports said.

An official trailer of the series was also launched, which displayed its vision, opportunities, and roadmap.

Notably, the event was covered live across the UAE-India CEPA Council’s social media platforms and is likely to be posted soon on LinkedIn, Instagram, and YouTube.

(Inputs From ANI)

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