Bengaluru, India, February 09, 2023: Ducab Group, one of the biggest end-to-end solutions providers and manufacturing firm based in the United Arab Emirates, (UAE) has announced that it is further enhancing its presence in India. As part of this growth plan, the company has set up its India & South East Asia office in Bangalore to further drive the India story. This expansion plan was announced in the presence of His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade; Ahmad Belyouha, Board Member of Ducab Group; Mohammad Almutawa, Group CEO of the Ducab Group, and a number of officials from both countries. The new establishment is part of the Group’s strategic vision to be a leading global provider of high-quality integrated energy solutions.
Ducab Group commenced operations in India in 1988, when cables were supplied to Nhava Sheva Port (Mumbai Port). Over the years, Ducab has supplied over 1,428 km of power cables to the Indian market, which is equivalent to the distance between Delhi and Mumbai. Ducab has made trade transaction in India worth INR 2000 crores. Some of Ducab’s prestigious mobility and transport projects in the country are located in Delhi, Mumbai, Kanpur, Lucknow, Agra among others. Presently, the company is working on multiple projects in India and has strong relations with leading Indian industries, serving more than 100 clients and providing 263,000 metric tons of Cu-eq (copper equivalent), equivalent to powering 3 million houses.
Commenting on this, His Excellency Dr. Thani Bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade, UAE said: “The new office by Ducab Group, one of the National Champion companies in the UAE, builds on the strong bilateral trade and business ties between the UAE and India. The two countries share common interests and have strong resources and capabilities to develop industrial manufacturing. The Comprehensive Economic Partnership Agreement (CEPA) signed in 2022 has further catalyzed business relations between the two countries, enabling businesses to invest and expand their operations as well as drive cross-border trade and build new and constructive partnerships on a genuinely global scale. This is in line with one of the five top government priorities the UAE has outlined for 2023, namely ‘Expanding the UAE’s International Economic Partnerships”.
Ducab supports the Make in India initiative and has been involved in a series of mega Indian infrastructure projects by supplying key materials. The Make in India initiative focuses on indigenous production in India and all our collaboration with India is geared towards fulfilling this objective.
Sharing his thoughts, Mohammad Almutawa Group CEO of Ducab said: “Ducab considers India its new home. This set up in Bangalore in the state of Karnataka is another example of the significant commercial and international cooperation between the two countries. Ducab Group employs around 1000 Indians. This is an opportunity for us to explore new prospects in the Indian industry, as well as to benefit from the new advantages under the CEPA trade agreement building on the existing achievements and close ties that bind Ducab to the Indian market. It is an extension of the company’s ambitions and strategies, which is currently expanding its business in 55 markets around the world, where it exports 60% of its products.”
Ducab Group is keen to take the opportunity of reduced taxes under the Comprehensive Economic Partnership Agreement (CEPA) that was signed by India and UAE in 2022. Under the CEPA, the duties will come down to Zero in five years reducing 20 per cent each year. The pact is expected to boost non-oil trade between the two countries to $100 billion in five years from $60bn currently, opening additional avenues of investment.
Ducab is relentless in its pursuit of quality and continue to expand across sectors and geographies, providing world-class products and services. Some of Ducab’s biggest projects in the UAE include Burj Khalifa, Dubai Metro, Emirates Palace, Burj Al Arab, Expo 2020 Dubai, Dubai Airport, Atlantis The Palm, and Yas Marina Circuit.