Dubai, Feb 12: An India Trade and Exhibition Centre would be set up in Sharjah at a cost of five million dollars to promote trade and investment between India, UAE, West Asia and North Africa. It would be a venue for permanent exhibition of Indian products and services.
The Centre when completed would perhaps be the first of its kind outside India, projecting Indian business and services and representing the emerging economic power of the country. The Indian Business and Professional Council (IBPC) Sharjah and Sharjah Chamber of Commerce signed an MOU yesterday realising the long pending proposal of the Indian community here to bring the core strengths of Indian business under one umbrella to tap the emerging opportunities in the region.
The MoU was signed by Sudesh Agarwal, Chairman IBPC and Ahammed Mohammed al Midfa for Sharjah Chamber in the presence of Indian Consul General Venu Rajamony and IBPC Vice Chairman K V Shamsudheen.
The land for the centre has been allocated by the Sharjah government on an initiative from the ruler Shaikh Sultan bin Mohd al Qasimi and it was decided that IBPC would be the lead agency to set up and manage the Centre. The proposal was accepted first by the Sharjah Chamber and thereafter by the Government of India in 2007.
Mr Agarwal said the Centre would catalyse Indo-UAE trade and investment relations. It would facilitate meetings and conferences between the IBPC, visiting delegations and lease office and, exhibition space to private and public sector companies from India and local companies.
Built over a land area of 20,000 sq ft having basement, ground and two floors with a total built up area of about 50,000 sq ft at a cost of approx AED 18-20 million (five million dollars), the centre would also have an auditorium and Indian restaurant and would be completed in two years.