Council’s meeting in New Delhi attended by delegation from the UAE and India
Adeeb Ahamed, Managing Director of LuLu Financial Holdings, has been appointed as the Chair of the Federation of Indian Chambers of Commerce & Industry (FICCI) Middle East Council.
Ahamed is a multifaceted entrepreneur with business interests in financial services and hospitality. His company LuLu Financial Holdings has a presence in 10 countries across the Middle east, Indian sub-continent and Asia-Pacific regions, with investments in India including the NBFC LuLu Finserv and cross-border payments company LuLu Forex spread across 40 cities, apart from luxury hospitality assets.
Ahamed has been engaged with industry bodies in India for several years and is a known face for his steadfast support in furthering the relationship between GCC countries and India. His expertise in various domains and vehement support for the startup ecosystem are well documented among the business community.
In his new role as Chair, Ahamed participated in the 6th meeting of the FICCI Middle East Council held in New Delhi on Wednesday. During the meeting, council members, including Shailesh Pathak, Secretary General of FICCI, Goutam Ghosh, Senior Director & Regional Head, Africa, Middle East, South Asia, and Deepti Pant, Joint Director and Head, Africa, Middle East, and South Asia, discussed the growing investment opportunities for businesses in both regions. They also touched upon key initiatives planned for the upcoming year and identified country-wise ambassadors from the business community.
Delegation from Sharjah Chamber of Commerce and Industry welcomed
The summit welcomed a special delegation from the Sharjah Chamber of Commerce and Industry, headed by its Chairman, HE Abdallah Sultan Al Owais. Additionally, there was an interactive session featuring HE Satish Sivan, Joint Secretary of Development Partnership at the Ministry of External Affairs, and the Indian Consul General Designate to Dubai. Furthermore, a presentation was conducted to highlight the opportunities in Oman’s Oil & Gas sector.
As per data from the Indian Ministry of Commerce and Industry, bilateral trade between India and the GCC countries has achieved new heights in recent times, surpassing the $150 billion mark. The GCC countries have emerged as a key destination for Indian exports, absorbing more than 10 per cent of India’s total exports. Additionally, India’s imports from the GCC account for over 18 per cent of the total import volume.
Established to promote trade and investment between India and the various GCC countries, the FICCI Middle East Council has emerged as a meaningful platform for discussions aimed at enhancing trade, fostering investment, and promoting cultural exchange.
In the last 12 months, the Council has held several events and discussions in association with government representatives and business chambers from UAE, Saudi Arabia, Oman and Bahrain to explore mutual synergies in diverse sectors.