A recent analysis by the Dubai Chamber of Commerce reveals that Indian investors are at the forefront of foreign business expansion in the emirate, establishing 7,860 new companies during the first six months of 2024. This achievement places India at the top of the list for new non-Emirati companies joining the chamber, underscoring Dubai’s growing appeal as a global business hub.
The report highlights Dubai’s strong ability to attract direct investments from India and reinforces the emirate’s position as a preferred destination for international businesses. While India led the pack, other countries also showed significant interest in Dubai’s business landscape. The United Kingdom ranked fifth with 1,245 new companies, followed closely by Bangladesh in sixth place with 1,119 new enterprises.
The analysis also provided insights into the sectoral distribution of new member companies. The trade and repairing services sector dominated, accounting for 41.5% of the total new businesses. Real estate, renting, and business services came in second at 33.6%, followed by construction at 9.4%, transport, storage, and communications at 8.4%, and social and personal services at 6.6%. Among these, the construction sector demonstrated the strongest growth, registering a 23.5% increase compared to the same period in 2023.
These figures not only reflect Dubai’s resilient and diversified economy but also its continued attractiveness to foreign investors, particularly from India. The Comprehensive Economic Partnership Agreement between India and the UAE, which came into force on May 1, 2022, has likely further bolstered this trend.
By: Vinod Kumar (Dubai)