The launch today of Franchise UAE, hailed as region's largest franchise and retail show, was dominated by Indian entrepreneurs looking to bring their brands to the Emirates.
Over 50 businesses are exhibiting at the three-day event, in a range of sectors from food & beverage to education, entertainment to jewellery, with Indian concepts making up 85 per cent of the total.
Mana Al Suwaidi, commercial attaché at UAE Embassy in New Delhi, said the Ministry of Foreign Trade was trying to "foster relations" in business and trade between the UAE and India.
"We want to bring entrepreneurs from India and directly meet with entrepreneurs here to facilitate trade," Mr al Suwaidi said. The UAE's leaders have placed a strong emphasis on the need to build young business leaders in the Emirates, he added.
The UAE has a large population of expatriate Indians, a market that many entrepreneurs at the event aim to capture, particularly as most of the current brands in the Emirates have been exported from Europe and the US.
Gaurav Marya, managing director for Franchise Middle East, the organiser of the event, estimated that nearly 60 per cent of the UAE population is from the Asian subcontinent.
"The event is Franchise UAE, so anything that is ready for this market we would like to bring in, but not necessarily just from India," Mr Marya said. "India is a strength area because the country has large brands that are already established."
Gitanjali Group, listed on the Mubai Stock Exchange and one of India's biggest jewellery players now aims to bring its brand to the UAE through franchising.
The company currently runs a joint venture with Damas, the Gulf's biggest jewellery company, in India, but would not be using this relationship in the UAE, said Karthikeyan Vishnu, vice president for retail at Gitanjali.
He said that Gitanjali is looking for entrepreneurs to set up individual units, for investors to look at a chain of stores, or for joint venture partnerships.
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End of free parking
- paid-for parking will be rolled across Abu Dhabi island on August 18
- drivers will have three working weeks leeway before fines are issued
- areas that are currently free to park - around Sheikh Zayed Bridge, Maqta Bridge, Mussaffah Bridge and the Corniche - will now require a ticket
- villa residents will need a permit to park outside their home. One vehicle is Dh800 and a second is Dh1,200.
- The penalty for failing to pay for a ticket after 10 minutes will be Dh200
- Parking on a patch of sand will incur a fine of Dh300
A%20QUIET%20PLACE
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The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now
The specs
Engine: 3.8-litre, twin-turbo V8
Transmission: eight-speed automatic
Power: 582bhp
Torque: 730Nm
Price: Dh649,000
On sale: now
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed