DIFC to embark on roadshows across India

Dubai International Financial Centre (DIFC) will embark on roadshows across India, starting in Mumbai on 28 March 2011 to meet with a series of Indian banks and corporations to strengthen relationships through business opportunities which could be beneficial for both markets.

The senior DIFC delegation will be led by Marwan Ahmad Lutfi, Deputy CEO and Head of Business Development, DIFC Authority.

Many of India’s leading banks have opened offices in DIFC in the past few years, including Axis Bank, ICICI bank, IDBI Bank, Punjab National Bank and State Bank of India. Indian institutions use DIFC as a platform to access markets and economies throughout the rapidly developing Middle East and Africa region.

Lutfi said: “The close proximity of the UAE and India has enabled our two nations to work efficiently and effectively together. Since the 19th century, the UAE and India have had very close economic ties which culminated in the 2009/2010 fiscal year, when the UAE became India’s largest trading partner, with bilateral trade amounting to $43.5 billion.

“DIFC, as the global financial and business hub of the Middle East region and increasingly Africa, is actively responsible for developing not just the Centre itself, but the region as a whole. This trip will explore and identify new investment streams for businesses, organisations and investors on both sides, which can only support and encourage the economic growth of our two regions.”

Kevin Birkett, Head of Financial Services at DIFC Authority, said: “There is growing demand in the Gulf, Middle East and Africa region for specialist products such as project and structured finance advisory, corporate finance and capital markets solutions. DIFC provides a specialised platform for Indian financial institutions and corporations to tap into this demand and grow their businesses across the region.”

Currently, 16 of the top 20 global banks have established a presence at the DIFC, eight of the world’s largest asset managers and four of the world’s five largest insurers are also based at the DIFC.

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