Dubai and India will strengthen their financial collaboration

Officials at the meeting in India.

Business Office, Gulf today

The Dubai International Financial Center (DIFC), the largest international financial center in the Middle East, Africa and South Asia (MEASA) region, successfully led a mission to the state of Maharashtra , in India.

The delegation was led by Essa Kazim, Governor of DIFC, and Arif Amiri, Director General of DIFC Authority.

During the visit, high-level strategic meetings were held in Mumbai and Greater Maharashtra, highlighting DIFC as a leading global financial center and the ideal base for Indian companies looking to expand their activities in the region. MEASA region.

Meetings were held to discuss DIFC's strategic plans and the Center for Growth roadmap, while exploring mutually beneficial partnerships with Indian businesses and financial institutions.

In addition, DIFC has partnered with integrated financial firm Phillip Capital to engage key industry and industry leaders from a variety of sectors, including infrastructure development, construction, logistics, construction and construction. 39, automotive, manufacturing, technology, oil and gas and the hospitality industry.

During this session, DIFC discussed market opportunities for family offices and reaffirmed its commitment to provide a specialized business ecosystem and regulatory framework, as well as comprehensive support services, to support family businesses. to flourish in the region. As part of this visit, the DIFC and the Government of Maharashtra signed a memorandum of understanding.

The agreement provides for the two entities to consider mutually supporting new FinTech companies based on their respective markets, while facilitating the development of their commercial ecosystems through collaboration and sharing of resources. The Center's innovative and flexible licenses offer Indian financial technology companies the opportunity to evolve their operations in the region by providing tailored solutions to support their growth in fast-growing emerging markets.

Arif Amiri, Executive Director of the DIFC Executive, commented, "Our partnership with the Maharashtra government strengthens the strong and collaborative business relationship between Dubai and India, as well as DIFC's strategic goal of leading the world. future of finance in a buoyant business environment. Indian FinTechs are proving to be pioneers in this field, offering the region an exciting prospect of becoming a global leader in the field. We are committed to fostering this growth through strategic international partnerships and knowledge sharing with like-minded public organizations, such as the Government of Maharashtra. Together, we will continue to facilitate business innovation opportunities in the growing FinAS technology sector of MEASA. "

The complete DIFC FinTech ecosystem includes two high-performance accelerator programs offered by DIFC FinTech Hive and Startupbootcamp, which support start-up startups and their growth, respectively.

In addition, Center-based startups have access to a $ 100 million FinTech fund, subsidized licensing options, forward-looking regulation and a financial community of more than 2,100 regional and global institutions, including more than 80 companies related to FinTech technologies, allowing DIFC to act as a stepping stone for growth.

SVR Srinivas, Senior Secretary, Maharashtra Government Information Technology Branch, said, "The Maharashtra Government shares DIFC's main goal of promoting next-generation innovation that will enable empowerment. financial and technological progress in the entire ecosystem of financial services. "

"At the moment, DIFC brings together more than 100 financial companies, banks, industry specialists and Indian consulting firms. We are confident that this partnership will bring new opportunities for ongoing collaboration in the areas of financial technology and innovation. "

DIFC is made up of more than 100 Indian financial and advisory companies, such as ICICI Bank, State Bank of India, Hinduja Bank Middle East, Punjab National Bank, Bank of Baroda, Union Bank of India, HDFC Bank , Canara Bank, Axara Bank, IL & FS, Phillip Capital; Wealth Management and Asset Management Companies, including IIFL Private Wealth Management, Aditya Birla Sun Life Asset Management, UTI International, L & T Capital Markets, Enam Asset Management, Taurus Wealth, Greenland Investment Management and Kitara Capital, alongside insurers such as The New India Assurance and HDFC International Life and Reinsurance.

The Dubai International Financial Center (DIFC) is one of the most advanced financial centers in the world and the largest financial center in the Middle East, Africa and South Asia (MEASA), comprising 72 countries population of approximately 3 billion and nominal GDP. $ 7.7 billion.