Dubai is positioning itself as a hub for Indian startups and entrepreneurs, offering a blend of business-friendly regulations, global market access, and an ecosystem ripe for innovation. This was the focus of the UAE-India Founders’ Retreat, organized last week by the UAE Embassy in India, UAE-India CEPA Council, and Offline, which brought together 65 distinguished entrepreneurs and business leaders from India to explore collaborative opportunities in the UAE.

Dr. Abdulnasser Alshaali, UAE Ambassador to India, gave an inaugural address, emphasizing the UAE’s commitment to fostering bilateral investment ties with India. He highlighted the shared vision of strengthening economic collaborations and expanding investment engagement across sectors like technology, logistics, and financial services.

Essa Kazim, Governor of the Dubai International Financial Centre (DIFC), noted the evolution of UAE-India relations since their establishment in 1972, particularly after Indian Prime Minister Narendra Modi’s visit in 2015. This visit catalyzed a progression beyond trade to sectors such as financial services and technology, sparking interest in these industries, he said. Indian companies have seamlessly integrated into Dubai’s business ecosystem, with prominent representation from financial institutions like the State Bank of India and ICICI Bank.

A Market Tailored for Indian Entrepreneurs

During a fireside chat, Varun Dua, Co-founder and CEO of Acko Insurance, moderated a discussion with Hadi Badri, CEO of Economic Development at Dubai’s Department of Economy and Tourism. Badri outlined Dubai’s unique advantages for Indian entrepreneurs.

• Also read: Bill introduced in Tamil Nadu Assembly to impose 10% entertainment tax on concerts, dramas, shows

During a day-long discussion, Dubai leadership and Indian founders discussed various aspects.  Indian Founders were informed that Dubai is a familiar market for Indian entrepreneurs. Thirty percent of Dubai’s startup ecosystem comprises Indians. The environment is welcoming and supportive with family, friends, and Indian-owned businesses here. Dubai Indian lawyers are here to guide businesses in setting up operations. The Retreat emphasized Dubai’s role as a proven testing ground for Indian entrepreneurs, offering opportunities to refine products and services for a multicultural audience. Dubai is not about leaving India; it’s about adding a new frontier to business.

Growth and Optimism

Leadership in Dubai highlighted that Dubai offers a dynamic growth trajectory, blending optimism and scalability. Its unique market economics and digital infrastructure make it an ideal launchpad for businesses aiming for global reach. Leaders highlighted Dubai’s 3033 Plan, which focuses on innovation and talent development in four key sectors: manufacturing, logistics, financial services, and tourism. With Dubai ranked fourth globally in visitor arrivals, the city also offers value-added opportunities for families, making it an attractive destination for holistic business and personal growth.

• Also read: Global goods trade growth steady but outlook cloudy: WTO

Pioneering Regulations and Open Markets

Dubai has pioneered several initiatives to support startups, including establishing the world’s first independent Virtual Asset Regulatory Authority. The city’s philosophy of open markets ensures no sector is off-limits, maintaining high standards to attract top businesses. Key sectors of focus include the gig economy, logistic tech, and health tech, all of which allow startups to test their products and scale effectively.

• Also read: Hyundai Motor India plans to set up 600 EV fast charging stations in 7 years

The first day of the Retreat in Dubai concluded highlighting that for Indian entrepreneurs, Dubai offers the perfect mix of familiarity and global exposure. Entrepreneurs can test their products in a culturally diverse market, operate with optimism, and scale their businesses seamlessly. Dubai provides a business destination and a platform for innovation, growth, and achieving the impossible.

(The author was in Dubai on the invitation of the UAE Embassy in India.)