India’s Ambassador to the UAE, Navdeep Suri, today celebrated his country’s Independence Day by ringing the market-opening bell at Nasdaq Dubai.

 

The ceremony reflected the rapid growth of the already close financial and economic ties between the UAE and India as well as their strong social and political links.

 

Bilateral trade increased from $52 billion in 2017 to $60 billion in 2018, according to official Indian figures. More than three million Indians live in the UAE. 

 

Suri said: “I am delighted to join Nasdaq Dubai in celebrating India's Independence Day. The initiative taken by Nasdaq Dubai is a reflection of the increasingly close strategic partnership between India and UAE.  It also demonstrates recognition of India's position as a driver of regional economic growth and the enormous possibilities that this opens up for Dubai to create a dynamic, mutually beneficial pathway for capital flows."

 

Hamed Ali, chief executive of Nasdaq Dubai, said:  It is a great pleasure to be celebrating India’s Independence Day at the exchange and we look forward to further strengthening bilateral capital markets ties. Indian companies and nationals continue to make an outstanding contribution to the economic success of the UAE and Nasdaq Dubai is ready to support the growing development of a broad range of markets activities.”

 

UAE companies including Nasdaq Dubai-listed DP World are major investors in India in sectors including ports, transport infrastructure, energy and housing.  – TradeArabia News Service