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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A 99-run loss is unacceptable: Hayden blames batting horror
Ahmedabad (PTI): Gujarat Titans' batting coach Matthew Hayden was scathing about their 99-run defeat to Mumbai Indians, blaming a "horror" batting display and poor death bowling for the heavy loss in the IPL.
From being 44/3 in 5.5 overs, MI hammered 73 runs in the last four overs to post a challenging 199/5 here on Monday. In reply, GT were bundled out for 100.
"I expect our margins to be a lot smaller than 100 (99). That is an unacceptable scorecard for our batting unit," the legendary Australian opener told media in the post-match interaction.
"It was just a horrible day for us today. Truth be told, there was nothing good about this day, really, apart from Rabada's performance with the ball. so we've got some work to do, definitely."
GT boast a strong batting line-up in Sai Sudharsan (759 runs), Shubman Gill (717), and Jos Buttler (538). They have also added New Zealand’s explosive Glenn Phillips in the middle order alongside Shahrukh Khan and Rahul Tewatia.
"When you look down at our batting line-up, we've got wonderful players that have to be in a better mindset and better position to take their opportunities. That is our expectations and has been since the conception of this Gujarat Titans franchise...
"So you can't be sitting here and being happy about, a 100-run (99) margin game in a 20-over game. I mean, back in my day, 100 runs was almost a winning total in 50-over cricket!"
The 54-year-old said GT lost the game in the powerplay.
"Well, middle order was undoubtedly exposed today. When they're coming in with six overs, you know that you're in deep trouble. The thing about the power plays is that you can't win it from there, especially in a run chase, but you can definitely lose it, and we lost it in the power play," he said.
Shahrukh (35 off 25 balls) and Tewatia (49 off 42) have not fared well this season and Hayden feels the duo along with Phillips (67 off 54 balls) have been struggling because the top order has been below its best.
"The relevance behind balls faced when you look at, for example, someone like Glenn Phillips -- his record in T20 cricket is an impressive strike rate and you'll take that all day long in the majority of games," Hayden said.
"However, you need an upfront batting effort where you consistently taking the lion's share of the batting. We shouldn't be allowing, Tiwu (Tewatia) or Shahrukh or these guys lots of balls. That's not their role. That's not what they train for."
Hayden said GT has an aggressive and adaptable unit but their execution fell apart on the day.
"We are a very good thinking batting unit. We're not a conservative batting unit. You don't go out and get 200s as often as we do being conservative. But they're an adaptive batting unit. ...they've got their roles and they play them and today they simply didn't.
"So the worry isn't just today about the middle order. It'd be unfair to say that, they were going to go on and score 13 runs an over because by that stage, I felt like as a batting coach, I was on the mast and the boat was sinking."
It was poorly executed bowling effort
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Hayden also pointed to poor execution in the death overs.
"I feel like one-dimensional is very unfair on a world-class bowling attack, but I will take on board it was a poorly executed bowling effort this evening.
"When you look back at those last four overs, that was just a 'horror story' -- 73 off the last four is unacceptable as world-class players. That bowling line-up has to reflect on that performance... It was purely an executional thing."
He added that GT were below par with the ball on a surface that didn’t fully justify the high total.
"We're very average with the ball, firstly, on a wicket that I really felt was probably a 175-type wicket.
"When you look historically at this black soil pitch on No. 5, it's a 200-wicket for the loss of five batters. That's been its winning first-inning score, and today it wasn't that wicket (199/5)... It was visible that it had cracks in it. It was visible that it was up and down.
"So credit also has to go to Tilak Varma, who put in a wonderful performance. It wasn't a cookie-cutter type performance. It was a dominant performance down the ground. He read the play nicely. He was able to pick up and play with power and precision."
Hayden said the chase was still within reach but poor shot selection proved costly.
"And when you reflect on our own batting, we had one side of the ground that was a little more inaccessible than the other, and we lost, what, three wickets into the bigger side of that boundary.
"And it wasn't an impossible total. 200 still is a total that I would back our three world-class players at the top of the order to etch into that a bit more and then allow our more sort of game players. An opportunity to set out their stalls and bat deep into the innings."
