The Sharjah Chamber of Commerce and Industry (SCCI) has announced that the volume of investment of Indian economic enterprises in Sharjah has reached Dh12 billion ($3.26 billion) in 2017, a media report said.

The figures are based on the certificates of origin that are issued by the chamber, which belong to more than 16,500 registered members of the Sharjah Chamber of Commerce and Industry, reported state news agency Wam.

It was further revealed that the total volume of exports and re-exports of these enterprises almost reached Dh771 million by the end of 2017.

The announcements were made during the chamber’s participation in the 2nd edition of the India - UAE Partnership Summit 2018, which was hosted by the Business Leaders Forum; with support from the UAE Ministry of Economy, the strategic partner of the event; and in cooperation with both the Embassy and the Consulate General of India in the UAE.

The summit, which concluded its activities on Wednesday, was held for two days at Atlantis The Palm in Dubai. The event was attended by a number of officials and diplomats from both countries, as well as representatives of financial institutions and sovereign investment funds.

Waleed Abdel Rahman BuKhatir, second vice chairman of SCCI, called on Indian companies and businesspeople to invest in Sharjah and take advantage of the incentives and facilities that are offered by the emirate. He stressed the commitment of Sharjah Chamber in providing all types of cooperation and support to Indian companies and investors that are looking to establish their businesses in Sharjah.

BuKhatir stated that the India Trade and Exhibition Centre that is located besides Expo Centre Sharjah, which was inaugurated in November of 2010 by Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, during an official ceremony attended by the President of India, has contributed to supporting trade exchange between India and both the UAE and Sharjah.

He added that the centre has also helped to enhance the country’s status as the top trading partner to India in the region, as well as promote trade and investment between India and the Middle East and North Africa region.

BuKhatir noted that Indian economic enterprises are located all around Sharjah and its free zones, particularly in the Hamriyah Free Zone, which is comprised of around 7,000 companies, the majority of which are Indian companies or companies owned by Indian investors.

He expressed that he is confident that the summit will represent a new launch towards deeper cooperation that enhances the size of trade exchange and investment, as well as help to build promising partnerships between the two friendly countries.