“Food security had been identified as a key area where bilateral non-oil trade can be tripled and expanded beyond the Dh 152 billion”.
The UAE-India food corridor initiative has the potential to triple India-UAE food trade over the next five years. Speaking at a virtual UAE-India Food Dialogue, food industry experts said such investments would help develop dedicated logistics infrastructure connecting farms to ports in India.
At the recent webinar, co-organised by the Dubai Chamber of Commerce and Industry and the Confederation of Indian Industries (CII), speakers said food security had been identified as a key area where bilateral non-oil trade can be tripled and expanded beyond the Dh 152 billion accounted for in 2019.
Food experts at the webinar, which was attended by 310 participants, pointed out that increasing cooperation between the UAE and India on food security and the food corridor were two significant factors expected to expand bilateral trade and investment in the future. The event was held on the sidelines of India International Food & Agri Week.
Omar Khan, Director of International Offices at the Dubai Chamber, said the dialogue offered participants valuable insights on bilateral trade ties, which have evolved and strengthened after the two countries announced a comprehensive strategic partnership.
He said the UAE-India Food Corridor a critical joint initiative that would take bilateral relations to the next level. “As a preferred trade hub for Indian businesses, Dubai can unlock this potential as it offers several competitive advances, such as its world-class logistics and transport infrastructure, as well as a strategic geographic position enabling Indian food exporters to expand their reach across GCC markets.”
Piruz Khambatta, chairman of the CII National Committee on Special Abilities, said logistics costs remained a key challenge for traders of fresh fruits and vegetables within India. However, upcoming infrastructure enhancements are expected to reduce the time and costs associated with food transportation, he said. He also noted that significant initiatives seeking to boost India’s food trade were in the pipeline. o
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