UAE, India and Israel business potential pegged to hit $110bln by 2030

Strategic partnerships between the UAE, India and Israel are poised to reach $110 billion by 2030, backed by innovation and visionary leadership, according to top diplomats and members of the business community.

An exclusive event of the International Federation of Indo-Israel Chambers of Commerce (IFIICC) was organised on Sunday to discuss the ongoing business collaborations being pursued through the IFIICC leadership across sectors by Kamal Vachani, who was recently appointed the honourary president for the UAE of the IFIICC.

Dr Ahmed Abdul Rahman AlBanna, Ambassador of the UAE to India and a founding patron of the IFIICC, said: ”UAE and India bilateral trade is projected to grow from $60 billion in 2020 to $100 billion by 2030. The UAE is a gateway to the world and this trilateral with India and Israel could benefit the world.”

Ambassador Ilan Sztulman Starosta, Head of the Mission Consulate of Israel to Dubai, said: “The international business potential backed by Israeli innovation, the UAE’s visionary leadership and strategic partnership of both nations with India could be $110 billion by 2030.”

Dr Aman Puri, Consul-General of India to Dubai, said: ”The Indian business community in the UAE could significantly leverage the strengths of this trilateral to boost economic growth of all nations.”

Merzi Sodawaterwala, founder and chairperson of the IFIICC, said: “Innovation and collaboration can help usher in a new, post-pandemic era of sustainable economic growth.”

Vachani, who is also group director and oartner of Al Maya Group, added: “The innovation and economic prospects of this trilateral are endless.”

Ran Tuttnauer, honourary president of the IFIICC in Israel and chairman of the Israeli Manufacturers Council at the Manufacturers Association of Israel, said: “International business through the UAE in collaboration with India using Israeli Innovation will be the future.”