[ad_1]
Measures such as CEPA agreement and UAE Golden Visa act as catalysts for synergistic growth between India and Dubai
Traditional businesses and startups alike are equally involved in building the modern future with the help of tools like AI, Web3, Metaverse and more
Dubai: If Dubai has been a world leader in adopting modern technology across industries as part of its “game-changing” digital transformation plan, it is largely thanks to India, leading entrepreneurs and businesses say The key role the company will continue to play in 2023. Industry leaders operating in the emirate.
Leveraging modern tools such as artificial intelligence, cloud technology, Web3 and Metaverse, Dubai has made rapid progress in improving areas such as healthcare, fintech startups, tourism and food security, and today is home to more than 1 million Indians.
“The impact of strong bilateral relations was limited to trade and geopolitics. Today, this impact also extends to entrepreneurship and talent mobility.” said Atul Hegde, founder of YAAP. YAAP is a new-age professional content company that brings together technology and data to create creative campaigns, such as the ‘Visit Dubai’ campaign featuring Shahrukh Khan. “Innovation occurs at intersections, and both countries can embody innovation on an unprecedented scale. As global geopolitical rifts widen, cross-border entrepreneurship will have a significant impact on both sides.”
When the Dubai government introduced a single electronic medical record for all patients, Indian-owned Zuleqa Hospital claimed to be the first private player to participate. When the group was founded in 1992, its owner Zulekha Daud of Nagpur was the first Indian woman healthcare entrepreneur to set up business in the UAE. They strive to improve operational excellence and healthcare outcomes. A unified healthcare system further improves patient engagement and clinical collaboration among medical tourists. Zulekha Group Managing Director Taher Shams said: “Technological advancements have increased confidence in the quality of services that hospitals provide to residents.”
Other large hospital groups such as Aster Healthcare and Thumbay have also joined forces with Zulekha Group to access NABIDH data, personalize it internally and collaborate with other providers for a better experience.
“Cultural affinity facilitates further collaborative efforts, cross-border talent mobility and exchange of best-in-class models,” said Abhay Pandey, CEO of MAST, a Dubai-based IT management consultancy. “So far, talent mobility has been dominated by Indian entrepreneurs. UAE; not the other way around.” The city’s world-class infrastructure provides investors, startups with the right platform to converge, collaborate and do business.
Alisha Moopen, deputy managing director at Aster, said her company has partnered with Intel and CARPL, India’s first end-to-end development company for medical imaging, to launch new systems for health technology solutions while protecting data. Working with 3M, they are using voice and artificial intelligence-driven technology to enable physicians to digitally create, review, edit and sign clinical notes in a conversational manner.
With the advent of the Metaverse, many daily tasks have become seamless. Using digital imaging and providing virtual access to the Metaverse has boosted medical tourism to nationals in India and Dubai.
Dr. Thumbay Moideen, founder president of Thumbay Group, one of the leading Indian conglomerates in the UAE, revealed that they are embarking on “a transformative plan to build a hospital on the Metaverse”. People who want to come from anywhere in the world can get a feel for what to expect, and patients can interact with doctors through their avatars. “
This global platform is also good news for e-commerce and B2B players in India. HMD Managing Director Rajiv Nath is working on expanding medical supplies portal Medikabazaar, with Dubai as its regional base. “Online and physical collaboration models help optimize inventory management and reduce the end buyer’s working capital expenditure. Reducing costs is our goal.” said Nas, whose company has been supplying goods to Dubai and the region for more than two decades. Other regions supply medical equipment.
At the same time, Indian health technology startup ShopDoc is also exploring the needs of Generation Z for a virtual medical ecosystem on Metaverse. “This age group needs to inculcate awareness, preventive healthcare and healthy habits,” said Shihab Makaniyil, co-founder of the Dubai-based startup, which claims to leverage a network of over 200 hospitals and 3,000 doctors in India. . “In the next 10 years, it is expected that more than 50% of the population will receive digital medical services through Metaverse.”
As long as there is a future of trade, venture capitalists and accelerators cannot be left behind to act as a bridge. “The UAE government’s golden visa program (5-10 years residency) has accelerated this trend,” Startupscale360 founder Swethal Kumar said at the conference on November 11.th Step Conference, the region’s largest emerging markets technology festival, took place in Dubai earlier this week. “Many Indian entrepreneurs are flocking to Dubai, mainly because of the convenience of starting a business, zero personal tax, 100% company ownership and friendly policies. Some venture capitalists also shuttle between Dubai and India to set up SPVs (Special Project Vehicles) ) to raise funds from the Middle East, with part of the funds earmarked for investing in startups in the Middle East and North Africa region.”
Since it officially came into effect in May 2022, the Comprehensive Economic Partnership Agreement (CEPA) has also become a catalyst for bilateral trade. “At the government level, following the CEPA agreement, the India-UAE Startup Bridge was launched last year to bring synergies. Since we have seen a huge influx of new startups… as a platform,” said Siby Sudhakaran, founder of Startup Middle East. , we organize a monthly market exposure cohort with over 30 startups every month, mainly from India. The support provided by both governments is overwhelming and encouraging.”
India is the UAE’s second largest trading partner, accounting for 9% of the UAE’s total foreign trade and 13% of non-oil exports.In the eight months since CEPA was signed, the UAE has exempted nearly 90% of its exports from India from tariffs
During another event around CEPA, Mohammad Ali bin Rashed Lootah, President and CEO of Dubai Chamber of Commerce, said: “More than 30% of new startups in Dubai come from India, and Indian companies have created more than 1 million jobs. NRIs are UAE-owned entities.” As of December 2022, more than 83,000 companies were registered with the Dubai Chamber.
He added: “India is among the top three countries for investment in agritech in 2020. CEPA is a useful initiative to explore synergies between the UAE’s food security measures and India’s presence in the tech ecosystem.”
In the next five years, the two-way annual trade volume in various fields between the two countries is likely to increase from US$60 billion to US$100 billion. Be it healthcare, fintech and startups, information technology or food security, digital intervention is making hyperactive reforms in various sectors seamless.
[ad_2]
Source link