PC: India Shipping News
It said that Dubai-based Sharaf Group will further increase its presence in India’s logistics parks, infrastructure, and food businesses, as the country works toward being more business-friendly for overseas investors. Speaking at the UAE-India Economic Forum, Salah Sharaf, Group Executive Director of Sharaf Group, reiterated the company’s commitment to growing investments in these key sectors over the next few years.
Infrastructure and Logistics in Full Focus
For some time now, the Sharaf Group has invested in railway and logistics parks in India. Infrastructure and logistics will be the two main sectors for future investment of the group, said Salah Sharaf. He further mentioned that they have been operational in India’s logistics parks for years and now intend to scale up further and have already established their presence in five logistics parks and seek to expand to 10 more cities. Infrastructure in India is lagging, and this is where they see a big opportunity for growth.
He also pointed out that since there are going to be strengthened relations between the two countries, India and the UAE, particularly in the area of food security, Sharaf Group will put equal effort in that direction.
Strengthening Uae-India Ties
The relation between the UAE and India has vastly improved over the last few years. His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, paid a visit to India. Salah Sharaf added that the Indian government’s attitude toward foreign investments has changed “180 degrees” from what it was ten years ago.
He further said that earlier India was known for its bureaucratic red tape which obstructed foreign companies’ interest in investment; however, today the government of India is encouraging foreign companies to invest in India and in the process has removed most of the obstacles that prevented foreign participation.
The Expansion into the Food Industry
The Sharaf Group foresees opportunities in the food sector, especially with increased cooperation between the UAE and India over the issue of food security. The group has just signed a memorandum of agreement to participate in the World Food India exhibition. Sharaf explained how the UAE is looking forward to this cooperation, as many companies from the UAE are interested in participating in the exhibition.
India’s Minister of State for Food Processing Industries, Niranjan Jyoti, was confident that the presence of several dozens of UAE companies in the event was an indication of the significance attached by both countries to food security-a matter of mutual concern.
State-level Competition for Foreign Investment
Sharafuddin Sharaf, the Vice-Chairman of Sharaf Group, further reiterated the pro-business attitude at the state level in India. He said that, the Indian states are now competing aggressively to attract foreign investors. In just one day, I met with eight ministers and chief ministers interested in discussing potential partnerships across a range of sectors. It is clear that India is putting substantial effort into accelerating growth and development.
A Bright Outlook for Investment in India
Both Salah and Sharaf Sharafudin sounded very positive on the future of Sharaf Group investments in India. The expansion plans of the group in logistics, infrastructure, and food security underpin the broader evolution of India’s economic policy, making the country an easy destination for foreign investment. While Indian states are racing to grab foreign capital, and the federal government is streamlining procedures for investment, Sharaf Group positions itself at the right place in the transformation of the Indian economy.
