The United Arab Emirates’ largest bank, First Abu Dhabi Bank, and global logistics firm DP World have received approval to establish offices in GIFT City, Gujarat. The move marks a new step in strengthening financial and trade ties between India and the UAE.
The announcement came during the visit of UAE President Sheikh Mohamed bin Zayed Al Nahyan to India, highlighting the growing economic partnership between the 2 countries.
First Abu Dhabi Bank will set up a branch in GIFT City to support cross-border trade and investment. The bank aims to improve financial connectivity between Indian and UAE companies and facilitate smoother capital flows between the 2 markets.
DP World will also begin operations from GIFT City. As per the Ministry of External Affairs, the company will carry out activities linked to the leasing of ships for its global operations. This move is expected to support DP World’s international logistics and maritime business from India’s international financial hub.
The approvals reflect GIFT City’s rising role as a gateway for global financial institutions and multinational companies looking to expand their presence in India. The development also signals deeper cooperation between India and the UAE across banking, trade, and logistics sectors.
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