DMCC plans to set up trade corridor between Middle East and Eastern India

Kolkata: Assessing a huge business potential in the Eastern India particularly in Kolkata, the Dubai Multi Commodities Centre

(DMCC) is planning to set up a trade corridor between the Middle East and Eastern India.

The main purpose of the trade corridor was to promote business ties between Dubai and Kolkata in which the Dubai based industries will be approached to set their units.

The Kolkata-based companies will also be urged to spread their business in Dubai. Bengal's tea has a huge market in Dubai and hence a huge amount of tea is exported into Dubai. DMCC is a Government of Dubai entity, dedicated to enhancing Dubai's position as the global gateway for trade by creating an environment for businesses to flourish, providing world-class physical, financial and smart infrastructure as well as regulatory frameworks, services, and expertise needed to build marketplaces.

The Dubai-Kolkata Corridor Meet had been organised at a city hotel to build a long-standing partnership between Dubai and Kolkata and enable DMCC members to connect with business interests in Kolkata, tapping its geopolitical area of more than 500 million people.

The event is aimed to boost exchanges and investments across the two cities. Likewise, businesses in Kolkata looking to expand into new markets will benefit from learning more about DMCC and its Free Zone offering. "Multi-country approach to doing business is a method many countries are adopting in the present state of global economy. Pacts are being signed between countries to bring about integration in business and bringing self sufficiency. Bengal having a long coastline offers an excellent opportunity through its waterways as a trade route which is often a cheaper way of doing business than conventional routes," said Ambarish Dasgupta Senior partner, INTUERI CONSULTING LLP.

Having explored Mumbai and Delhi, DMCC is now here to explore the inherent strengths of the region in manufacturing, services , and seek other business opportunities and offer the facilities of DMCC to set up business in Dubai, added Dasgupta.

Gautam Sashittal, Chief Executive Officer, DMCC, said: "The UAE-India partnership is a great example of how strong leadership and collaboration delivers. Our inaugural DMCC Made for Trade Live road show in Kolkata sets out to build on this success by connecting business leaders in Kolkata, Bengal with Dubai's pro-business community to unlock new opportunities and strengthen the future of trade for all."

Javed Ahmed Khan, State Disaster Management minister who attended the programme said: "Kolkata is one of the primary crossroads of global civilization and through the recent Global Summit promoted by the state government led by Chief Minister Mamata Banerjee is proving to be a capital of both commercial and cultural interchange."