DP World Group Chairman and CEO, Mr
Sultan Ahmed Bin Sulayem, met with the Prime Minister, Mr Narendra Modi, at the
8th edition of the Vibrant Gujarat Global Investors’ Summit 2017 in
Discussions highlighted the immense
potential of India’s growing economy and the nation’s maritime and inland
trade. New opportunities resulting from the Prime Minister’s programmes such
as Invest India, Digital India, Skill India and Made in India were also on the
agenda, evidence of the new economic direction of the country.
Mr Bin Sulayem also joined a Global
CEOs’ meeting at the Summit chaired by the Prime Minister. He outlined the
importance of the innovation and opportunities for investors in trade, logistics
and the maritime sector. The conference hosted 35 foreign business leaders and
23 Indian industrialists.
Said Mr Bin Sulayem: "We are
proud of the role we have played serving India’s growing economy for more than
a decade, during which we have worked closely with the government to redefine
the container terminal business by introducing new technologies, world class
infrastructure and international operating practices.
"DP World has invested in the
development of 5 international gateway ports in India and we believe making
ports more productive across the country rather than building more greenfield
sites is the way forward. There is also a great need to reach internal markets,
invest in cold storage facilities and networks, using coastal and inland
waterways to increase efficiencies and lower costs. By
developing this transport infrastructure— at existing ports, multimodal
transport, including rail for freight and more use of waterways— there will be
a direct economic impact benefitting manufacturing and agriculture, those in
cities and the rural farming community.
"Meanwhile, we are reinforcing
our commitment to economic development through our operations in the country,
where we have invested $1.2 billion to date, supporting over 30 per cent of
India’s container trade. Being one of the strongest emerging economies in the
world, it offers immense potential for growth in maritime and inland trade.
"We are also looking for
investment opportunities worth over $1 billion over the next few years, offering
our partners the opportunity to grow and expand their business. We remain
committed to our operations in the country, which form an important part of our
DP World is a market leader in
Indian container terminal operations, with the largest portfolio of investments
in ports along the coastline. The network stretches across ports in Gujarat
(Mundra, 2003), Maharashtra (Nhava Sheva, 1999 and 2012), Kerala (Cochin, 2005),
Tamil Nadu (Chennai, 2001), an Andhra Pradesh (Visakhapatnam, 2002). It has also
created rail connections to the hinterland and has a national rail licence to
operate 7 container trains from major hinterland markets to major gateways in
Mundra and Nhava Sheva.
India and the UAE continue to have a
long lasting trading relationship with bilateral trade reaching $ 60 billion in
2015, highlighted a release.