India, a major client of SAIF Zone

India is one of the major players in Sharjah Airport International Free Zone Authority (SAIF Zone), United Arab Emirates (UAE), following USA and China, said SAIF Zone sales manager (Commercial Division) Thomas Joseph.

He was addressing the gathering during a seminar on ‘International Business Forum: Expanding Business Globally’, jointly organised by Federation of Indian Export Organisations, SAIF Zone and Mysore Chamber of Commerce and Industry, here.

Joseph said, India is the third major player in SAIF-Zone. Today, the zone has over 7,000 odd companies operating from 149 countries, of which 48% are from India alone, carrying out varied business activities like light to medium manufacturing, trading and providing services such as IT, consultancy and others. 

He said, over the years, free zone, which was inseminated in 1971, has become a magnet for well-established major corporations operating in various activities and sectors, including general trading, import and export, distribution and storage and warehousing, industrial sector, service sector and aircraft.

Highlighting the benefits on offer, he said, the zone offers 100% business to clients and issue trade licences within 24 hours. Being in a free zone, one could enjoy exception from import and export duties, no restrictions on hiring of 100% expat workers, access to 200 billion consumers. Joseph said, one can register companies under a free zone establishment (FZE), a free zone company (FZC), branch of a company (registered in the UAE) and branch of a foreign company (incorporated outside the UAE). At present, the zone has issued 7,307 licences for 7,225 companies. 

Many companies are holding more than one licence to undertake additional business, he added. 

The notable reason of strong Indo-UAE economic ties is huge expatriate Indian population in Emirates. 

SAIF Zone commercial director Mohammed Almahmoud said, over the past several decades, the UAE has been transformed into one of the world’s most robust economic diversification. 

Free zones provided a congenial environment for the acceleration of economic development in UAE.