UAE Chapter of UAE-India Business Council established, Faizal Kottikollon appointed Chairman
Abu Dhabi (UAE): The UAE-Indian business council has been established on the first anniversary of the Comprehensive Economic Partnership Agreement (CEPA) deal signed by India and the United Arab Emirates. The formation of the council is aimed at increasing investment and bilateral trade between the two countries.
The UAE India Business Council - UAE Chapter (UIBC-UC) was launched in Dubai by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, in the presence of Ambassador of India to the UAE Sunjay Sudhir, Consul General of India in Dubai Dr. Aman Puri and founding members of the UBIC-UC.
NRI businessman Faizal Kottikollon was appointed as the chairman of the council. Faizal Kottikollon said the main purpose of the council was to build trust.
“In the past, several UAE companies have taken some poor decisions while investing in India because they were not confident to invest large amount of money,” he said. “We will act as a channel partner and a bridge. The basis of any business is trust. When you develop trust, everything becomes easier.” He was quoted as saying by Khaleej Times.
With both countries growing rapidly, Faizal, who is the chairman of KEF Holdings, said this council was the need of the hour. “UAE has become the centre of the world after Covid,” he said. “India has got so much knowledge, but we need a lot of capital. UAE got a significant amount of capital. So, if you can marry these two things, it’s a powerhouse. What this council does is identifying projects in both the countries and bring investment through this channel.”
Faizal confirmed that there are several projects already in the pipeline. “We are very confident that there’ll be three large investments coming into India soon,” he said. “We will announce the details in due course of time, but I can assure you that it is indeed a very exciting time.”
(Faizal Kottikollon)
“This is a very significant thing,” said Sunjay Sudhir. “We want to bring together their experience of doing business in both countries so as to further lubricate the investment and business corridor between both countries. They will discuss ideas on how to further generate trade and investment opportunities.”
The founding members of the UIBC-UC from the UAE side are Mubadala, Wizz Financial, DP World, Emaar, Emirates airline and Emirates NBD. From the Indian side, conglomerates such as Tata, Reliance, and Adani are represented, as well as tech innovators like OLA, Zerodha, Udaan, and EaseMyTrip, along with prominent Indian entrepreneur-led corporations based in the UAE such as KEF Holdings, Buimerc Corporation, Apparel Group, EFS and Lulu Financial.
Siddharth Balachandran, executive chairman and CEO of Buimerc Corporation Ltd said the UIBC-UC will further strengthen the growth of India-UAE relationship. “To channelise the various investments, we need channels like these,” he said. “It will add a layer of credibility and give investors a channel to verify investment opportunities.”
Rizwan Soomar, CEO & MD (India Subcontinent) at DP World, will serve as the Co-Chairman of UIBC-UC. Major General (Retd.) Sharafuddin Sharaf, who serves as the Chairman of the UIBC India Chapter, will also hold the position of Vice Chairman of UIBC-UC.
The council will have its office in Abu Dhabi and will be a pan-UAE body focusing on promoting trade and investment relations between the UAE and India. Membership to UIBC-UC will be by invitation only, and institutional members will be invited over time.
An India chapter of the business council was established in New Delhi in 2015 by Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister for Foreign Affairs and International Cooperation, and the late Sushma Swaraj, who was then Minister of External Affairs of India, during the 11th Session of the India-UAE Joint Commission Meeting.
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UDF leaders see local body poll trends as pointer to 2026 Assembly elections in Kerala
Thiruvananthapuram (PTI): Buoyed by the strong performance of the Congress-led UDF in the local body polls, KPCC president Sunny Joseph said on Saturday that the front's results indicated the people had rejected the LDF government.
According to early trends, the UDF was leading in more grama panchayats, block panchayats, municipalities and corporations than the LDF.
The local body polls were held in two phases in the state earlier this week.
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Speaking to reporters here, Joseph said the people of Kerala had extended their support to the UDF.
"We could expose the LDF government’s anti-people stance and the people understood it. The LDF’s fake propaganda was rejected by the people. The UDF is moving towards a historic victory," he said.
He said a united effort, proper preparations, good candidate selection and hard work had resulted in the Congress and the UDF’s victory in the elections.
Asked about the prospects in the Thiruvananthapuram Corporation, Joseph said the party was studying the matter and would comment later.
LDF convenor T P Ramakrishnan said the results would be closely examined.
According to him, the government had done everything possible for the people.
"Why such a verdict happened will be examined at the micro level. People’s opinion will be considered and further steps will be taken," he said.
He added that decisions would be taken after analysing the results. "If any corrective measures are required, we will initiate them and move forward," he said.
AICC leader K C Venugopal said the results showed that people had begun ousting those who, he alleged, were responsible for the loss of gold at Lord Ayyappa’s temple.
"This trend will continue in the Assembly elections as well. It is an indication that the people are ready to bring down the LDF government," he said.
Venugopal said the UDF had registered victories even in CPI(M) and LDF strongholds.
"I congratulate all UDF workers for their hard work. Congress workers and leaders worked unitedly," he said.
Referring to remarks made by Chief Minister Pinarayi Vijayan against the Congress on polling day, Venugopal said the voters had responded through the verdict.
"I do not know whether the chief minister understands that the people are against him. Otherwise, he does not know the sentiment of the people. The state government cannot move an inch further," he said.
He said the results indicated a strong comeback for the UDF in Kerala.
Asked whether the Sabarimala gold loss issue had affected the LDF in the local polls, Venugopal said the CM and the CPI(M) state secretary did not take the issue seriously.
"We took a strong stand on the matter. The BJP played a foul game in it," he alleged.
On the BJP's role in the local body elections, Venugopal alleged that the party operated with the CPI(M) 's tacit support.
"The CPI(M) supported the central government on issues such as PM-SHRI, labour codes and corruption in national highway construction. The CPI(M) is facing ideological decline, and the state government’s policies are against the party’s own decisions," he said.
Meanwhile, LDF ally Kerala Congress (M) leader Jose K Mani said the party could not win all the wards it had expected in the elections.
He congratulated winners from all parties and said the party would closely examine the losses and identify shortcomings. "Later, we will take corrective measures," he added.
Senior Congress leader and MP Rajmohan Unnithan said the trends in the local body elections indicated that the UDF would return to power in the 2026 Assembly elections.
"We will win 111 seats as in 1977 and return to power in 2026. The anti-government sentiment of the people is reflected in the elections," he said.
Unnithan said the people were disturbed and unhappy with the present government.
"The trend indicates the end of the LDF government," he added.
CPI(M) MLA M M Mani said the people had shown ingratitude towards the LDF despite benefiting from welfare schemes.
"After receiving all welfare schemes and living comfortably, people voted against us due to some temporary sentiments. Is that not ingratitude," he asked.
Mani said no such welfare initiatives had taken place in Kerala earlier.
"People are receiving pensions and have enough to eat. Even after getting all this, they voted against us. This is what can be called ingratitude," he said.
Muslim League state president Panakkad Sayyid Sadiq Ali Shihab Thangal said the results were beyond expectations.
"The outcome points towards the Secretariat in Thiruvananthapuram, indicating that a change of government is imminent. We are going to win the Assembly election," he said.
