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Badjatya: This could surely have an impact on the joint ventures and technical collaboration agreements between Indian companies and their foreign partners in the EV and battery industries.
More than 30 percent of the start-up community in Dubai is represented by Indians, while Indian companies and NRI-owned entities have generated around 1 million jobs in the UAE.
SVB was an investor in almost two dozen Indian startups (including the likes of Icertis, InMobi and others) along with being a bank of choice for many Indian companies operating in the US market.
The government recently permitted certain Indian companies to directly list on select foreign stock exchanges, which will allow these companies to access global capital and boost capital outflows.
“The notable increase in newly registered Chinese and Indian companies in the Free Zone has undoubtedly played a vital role in UAE-China trade, valued at AED 264.5 billion, and that of UAE-India trade at AED 180.9 billion, in 2022.
The official quoted above, however, did not name the Indian companies that may be looking at building liquefaction facilities in Iraq.