DIFC to Present 100 Indian companies
As a part of its newly announced 2024 growth strategy, DIFC aims to upsurge the number of Indian firms to over 100 in the next 10 years, in addition to expanding its physical and legislative infrastructure for financial institutions looking to fully realise their growth prospective.
DIFC has seen exponential growth from only one Indian institution in 2007 to over 20 Indian banks and financial institutions at present. Indian institutions now make up the third biggest community of financial firms at the Centre. Furthermore, more than a quarter of the current workforce employed in DIFC is of Indian origin.
This planned initiative came shortly after Indian Prime Minister Narendra Modi's recent visit to the UAE to reinforce the relationship with the Gulf countries and seek investment to increase Indian economy.
The visit presented opportunities both to enhance cooperation between the Indian financial community and the DIFC, and to encourage the centre's world-class legal and regulatory framework to businesses looking to access the Middle East, Africa and South Asia (MEASA) region.
Speaking about the implementation of the 10-year growth strategy, Arif Amiri, deputy chief executive officer, DIFC Authority, said: "On our second visit to Mumbai this year, DIFC has demonstrated its continued promise to building and maintaining sustained, long-lasting partnerships with the emerging Indian market."
