With $9.3 billion existing Dubai investment, 55,274 jobs; new MoUs seek to expand India-UAE AI and trade ties
The agreements were signed in Bengaluru between the Indian industry bodies and a delegation led by Dubai Chambers’ president and chief executive officer, Mohammed Ali Rashed Lootah. The delegation held eight meetings with Indian and multinational companies and technology startups.
Dubai's Dubai Chambers has inked agreements with IT industry body Nasscom and the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) to bolster collaboration between Dubai and Indian businesses in advanced technologies, trade, and investment. The agreements were signed in Bengaluru, with Dubai's delegation meeting with Indian companies and startups to explore opportunities.
The MoU with Nasscom lays the groundwork for cooperation in agentic AI and deep tech, aiming to aid Indian companies in establishing a presence or expanding in Dubai. It promotes knowledge-sharing, innovation, industry collaboration, and access to Dubai's AI-powered private sector to boost economic growth.
The UAE plans to join forces with Indian firms to create an AI corridor connecting Dubai and Bengaluru, facilitating Indian technology companies' entry into West Asia, North Africa, and African markets. Additionally, the Nasscom partnership includes AI-focused business delegations, industry meetings, and networking events.
The FKCCI MOU emphasizes strengthening trade, investment, and business ties between Dubai and Karnataka. It includes plans to establish a Virtual Dubai Desk for companies exploring opportunities in Dubai, offering market-entry guidance, ecosystem orientation, and business expansion support.
The two sides will also organize regular roundtables, knowledge-sharing sessions, inbound and outbound business delegations, and sector-focused engagements. A Dubai-Karnataka business event is set to take place in Dubai in early 2027, with the potential for increased trade, investment, and job creation.
Indian companies constitute the largest foreign business community in Dubai, with 85,841 Indian companies as active members as of June 2026, marking a 15% year-on-year increase. The chamber welcomed 7,579 new Indian companies during the first half of 2026. Dubai's bilateral trade with India reached $60 billion in 2025, showing continued double-digit growth.
Indian foreign direct investment in Dubai amounted to $9.3 billion across 147 projects between 2016 and 2025, generating 55,274 jobs. Dubai's economy benefits mainly from trade, retail, wholesale, and logistics sectors, but the next growth phase will focus on digital economy sectors like AI, fintech, deep tech, and SaaS, along with agritech to address food security, agricultural productivity, and waste reduction in Africa.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
