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Today Date : Saturday, May 18, 2024

Indo UAE Economic Chamber of Commerce Launched in Chennai

Indo UAE Economic Chamber of Commerce Launched in Chennai

The Indo UAE Economic Chamber of Commerce was inaugurated today in Chennai by His Highness H.H.Sheikh Majid Rashid AI Mulla, From Majestic Investments (Office of Sheikh Majid Rashid AI Mualla), UAE in the presence of Sheikh Sultan, Member of Ruling Family, UAE; Mr Hein Helm, Founder & MD, Africa World Investments, Nawabzada Mohammad Asif Ali, Dewan to Prince of Arcot. 

Prabhu Inbadass, Founder & Managing Director, MM Gems & Jewelleries and Sridevi Arunachalam, Director, MM Gems & Jewelleries.  Sridevi Arunachalam will be the President of Indo UAE Economic Chamber of Commerce. A memorandum of Understanding was signed between MM Gems and Jewelleries and Majestic investment, UAE to promote the bilateral trade between India and UAE in the global gems and jewellery business. MM Gems and Jewelleries also signed a Memorandum of Understanding with Africa world investment to work closely together to promote the diamond industries in the UAE and India. 

Speaking on the Occasion His Highness H.H.Sheikh Majid Rashid AI Mulla said, “The Gems & Jewellery sector contributes a substantial portion of India’s exports to the UAE and is a sector that is expected to benefit significantly from the tariff concessions obtained for Indian products under the India-UAE CEPA which came into force in May 2022. The UAE accounts for 80% per cent of studded jewellery exports, Gem and Jewellery exports, with the duty waiver, India’s Gem and Jewellery Export Promotion Council has expressed confidence exports of plain gold jewellery and gold studded jewellery from India to the UAE would grow to US$10 Billion in 2023”.