Ducab India In a significant move, Ducab Group, a major player in end-to-end energy solutions and manufacturing in the UAE, represented by Ducab India, has established its first bilateral partnership with Emirates NBD. The collaboration aims to propel Ducab Group’s expansion objectives and contribute to the economic development of both the UAE and India.
Strategic Alignment with UAE’s Economic Diversification: Ducab India
The strategic agreement aligns seamlessly with the UAE’s ongoing efforts to diversify its national economy and boost non-oil trade with global partners. Recognizing India as a key player, the UAE has consistently prioritized expanding its global network.
Ducab’s Milestones in the Indian Market: Ducab IndiaÂ
Ducab’s recent endeavors in the Indian market include the opening of its first office in Bengaluru in early 2023, solidifying its commitment to the region. This move is part of Ducab’s broader strategy to position itself as a leading provider of high-quality integrated energy solutions on a global scale.
Enduring Partnership: Insights from Key Figures: Ducab India
Abdulnasser Jamal Alshaali, UAE Ambassador to the Republic of India, highlighted the longstanding bilateral trade ties between the UAE and India. He emphasized the pivotal role played by Ducab and other national companies in achieving the UAE’s strategic objectives.
Mohammad Almutawa, Group CEO at Ducab, underscored the significance of the bilateral partnership with Emirates NBD India. He sees it as an extension of the strong collaboration between the two entities and a testament to Ducab’s substantial progress in the Indian market.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, reaffirmed the bank’s commitment to supporting the growth ambitions of its clients. The enduring relationship with Ducab stands as a testament to the bank’s ability to facilitate its clients’ expansion plans.
Meshal Al Naqbi, Group CFO at Ducab, emphasized the strong relations with leading Indian industries. Ducab’s role in importing materials from India, serving clients, and contributing to the energy sector’s growth in the country was highlighted.
Significance Amidst Landmark Agreements
The partnership announcement follows significant agreements between the UAE and India, including the UAE-India Comprehensive Economic Partnership Agreement (CEPA) and the historic memorandum of understanding on the Local Currency Settlement (LCS) system.
Two Decades of Collaboration: Ducab and Emirates NBD
Ducab and Emirates NBD have maintained a robust partnership for over 20 years, playing a vital role in the growth and expansion of both entities in various export markets, in line with the UAE’s strategic directives. Ducab exports 60% of its products to over 55 markets globally, serving the energy sector across the Gulf, Asia, Africa, Europe, and the Americas.
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