Businesses in India ‘speed up’ production shift to UAE

TALKS ON BY INDIAN JEWELLERS, FOOD BRANDS WITH UAE ENTITIES FOR JVS

- BY MANOJ NAIR Business Editor

Businesses in India did not waste any time in looking for options in the UAE from the time President Trump set 25 per cent as tariffs on Indian exports to the US — and then doubled it for the country buying oil from Russia. Those tariffs have now taken effect as of yesterday.

Consultancies that advise on business set up and support services say that the number of enquiries from Indian businesses have definitely been higher after the Trump announcements.

“After the first 25 per cent was revealed, many in India were still hopeful that this was a Trump negotiating tactic,” said the CEO of a food processing unit in the UAE. “Then came the second 25 per cent and there seemed no move to reach a deal between the US and India. That has got several Indian businesses with US exports talking to us about some sort of joint ventures or investments in the UAE.”

Looking for options in UAE