Interest from infra companies from UAE on a rise post UAE-India CEPA

Post the UAE-India Comprehensive Economic Partnership Agreement, there has been a rise in interest from UAE companies, largely from infrastructure companies, says the top executive of a UAE bank. He added that Indian exporters are increasingly looking at the UAE as a region to expand in other markets.

Sharad Agarwal, CEO of Emirates NBD India told CNBC-TV18, “As a bank, we cater to all kinds of companies, whether it is coming from UAE or its Indian corporates. So, we are agnostic. We are only catering to the UAE segment. We are running close to a billion-dollar balance sheet. So that's the size of growth and we are pretty much happy with the start. We are still very small compared to any other banks in India.”

Recently, Ducab India, part of the Ducab Group, one of the biggest end-to-end energy solutions providers and manufacturing firms in the United Arab Emirates (UAE), has signed its first bilateral partnership with Emirates NBD India. Through the partnership, the Ducab Group is looking at a continued expansion of its wires, cables and metal solutions in India. Commenting on the partnership, Agarwal said, “Post the agreement, UAE businesses are increasingly looking at entering the Indian market.”