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BusinessWire India
Bengaluru (Karnataka) [India], August 20: Dubai Chambers has signed two Memorandums of Understanding (MoUs) during a high-level visit to Bengaluru to advance collaboration in Agentic AI, strengthen trade and investment between Dubai and India, and support business expansion. The agreements were signed with the National Association of Software and Service Companies (NASSCOM) and the Federation of Karnataka Chambers of Commerce and Industry (FKCCI). As part of the visit, a delegation headed by H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, held eight meetings with leading Indian business organisations and multinational companies. The programme included engagements with Nasscom Deeptech, the Confederation of Indian Industry Karnataka State Council (CII Karnataka), FKCCI, and the Federation of Indian Chambers of Commerce and Industry Karnataka State Council (FICCI Karnataka). The MoU with NASSCOM establishes a framework for cooperation in Agentic AI and deeptech. It aims to support market access for Indian companies seeking to establish and expand in Dubai. The agreement also promotes knowledge sharing, ecosystem engagement, innovation initiatives, and strategic industry collaboration. It includes AI-focused business delegations, business-to-business meetings, networking events, and other engagements designed to connect companies and stakeholders in India and Dubai. The MoU supports Dubai's wider drive to accelerate the adoption of Agentic AI across the private sector and strengthen the emirate's position as a leading global centre for advanced technologies. It also aligns with the initiative launched in May 2026 to transition Dubai's private sector towards Agentic AI within two years and establish Dubai as a global leader in the economic and commercial adoption of these technologies. H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented, "Indian companies remain vital partners in Dubai's growth and form the emirate's largest foreign business community. Our agreements with NASSCOM and FKCCI will build on this strong foundation by advancing cooperation in Agentic AI and deeptech, strengthening trade and investment, and supporting more Indian companies to establish and expand in Dubai." H.E. Lootah added, "Dubai's drive to accelerate the adoption of Agentic AI across the private sector is creating significant new opportunities for Indian technology companies, innovators, and specialists to contribute their expertise and develop new solutions. By connecting these capabilities with Dubai's advanced business ecosystem and access to international markets, we aim to generate tangible benefits for companies in both markets." The MoU with FKCCI is designed to strengthen trade, investment, and business collaboration between Dubai and Karnataka. The areas of cooperation include the establishment of a Virtual Dubai Desk to serve as a point of contact for companies exploring opportunities in Dubai, together with market-entry guidance, ecosystem orientation, and business expansion support. Under the terms of the agreement, the two parties will also collaborate to arrange regular roundtables and knowledge-sharing sessions, as well as inbound and outbound business delegations and sector-focused engagements. The agreements are designed to build on the significant and expanding presence of Indian businesses in Dubai. A total of 85,841 Indian companies were registered as active members of Dubai Chamber of Commerce by the end of June 2026. This represents 15% year-on-year growth. The chamber also welcomed 7,579 new Indian companies during H1 2026. The positive momentum in economic and business relations between Dubai and India is reflected in growing investment flows. Indian foreign direct investment into Dubai reached a total of US$ 2.28 billion in 2025. Investments from Dubai to India totalled US$ 9.3 billion across 147 projects between 2016 and 2025, creating 55,274 jobs. As part of the visit to Bengaluru, Dubai Chambers organised dedicated roundtable sessions for members of the four business organisations. The sessions highlighted the diverse opportunities available to Indian companies in Dubai and explored ways to strengthen cooperation across priority sectors. Discussions focused on supporting market entry and expansion, connecting Indian companies with potential partners and stakeholders, and developing new avenues for bilateral trade and investment. To support the continued growth of this relationship and help Indian businesses capitalise on opportunities in Dubai, Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, maintains two representative offices in India. Strategically located in Mumbai and Bengaluru, the offices strengthen engagement with India's business community and play a vital role in connecting companies and investors with Dubai's business ecosystem. (ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
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