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November 19, 2017 | 10:30 | Dubai
Dubai Exports, the export promotion agency of Dubai Economy, attended the inaugural ‘World Food India’ exhibition held recently in New Delhi, demonstrating the growing export capabilities in the UAE and exploring new opportunities in the fast-growing Indian market. Dubai Exports was the first international organisation to confirm its participation in the three-day event, which featured strategic pointers to the booming food & beverage industry in India.
Food & beverage is a major component of the Indian economy with a market value of around 1.7 trillion dirhams (US$ 455 billion). Besides, the sector is expected to grow 15% annually and form about half of the overall retail market over the next decade, driven by the growing urban middle class and rising consumption.
Mohammed Al Kamali, Deputy CEO of Dubai Exports, said: “Although, India is a major and important trading partner for Dubai there is still considerable opportunity to increase the value of our exports to the country. Nearly a third of the 1.2 billion people in India are considered to be middle class and this along with the rapid urbanisation happening in the country will continue to drive demand for varied food & beverage products.”
World Food India attracted 2,000 participants, including 200 companies from 30 countries, 18 ministerial and business delegations and CEOs of nearly 50 global companies in addition to heads of domestic food processing firms. Honourable Prime Minister of India, Narendra Modi, inaugurated the exhibition in the presence of various other heads of States and also visited the Dubai Exports stand accompanied by Harsimrat Kaur, Honourable Minister of Food Processing.
Commenting on the significance of World Food India, Kaur said it’s aimed to make India a global food factory and achieve food security. India is also seeking to attract an investment of US$ 10 billion (AED 36.7 billion) in the food processing sector and generate one million jobs in the next three years. Dubai Exports utilised the event to highlight the export capabilities in the UAE and the services provided by its two overseas offices in India, promoting the UAE as a competitive source market for traders in India.
The overseas trade offices work to increase awareness of UAE-based products and services in the Indian market and provide on-the-ground services in linking companies on both sides, serving as a single point of contact. More specifically, the Indian office acts as a representative office for small and medium enterprises who cannot afford to have an office of their own, and also supports firms of all sizes to overcome barriers in entering new markets.
“World Food India is a perfect venue for Dubai, and the UAE in general, to showcase its strengths as an exporter and feed into the ingredients sector. The ingredients sector is an important avenue for our firms to export into the Indian market as it seeks to become a global food factory. Also, the growing retail sector is a wonderful opportunity for UAE companies to enter and grow in the Indian market. Dubai Exports also highlighted the halal manufacturing and promotion, a sector in which we believe Dubai and the UAE has a significant advantage in terms of products as well as services,” added Al Kamali.
The exhibition also witnessed the launch of ‘Nivesh Bandhu,’ (which means ‘Investor’s Friend’) a portal that brings together information on central and state government policies as well as incentives provided for the food processing sector in India. “This is a timely tool that will allow UAE companies to understand the opportunities to enter and export to food and beverage companies as well as the retail sector in India. With the economic and entrepreneurial dynamism in India, we feel the doors are open for UAE companies to enter this promising market and form productive partnerships,” Al Kamali concluded.