Financial Daily from THE HINDU group of publications
Tuesday, Jan 28, 2003
Financial Daily from THE HINDU group of publications Tuesday, Jan 28, 2003 |
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Industry & Economy
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Foreign Trade Sharjah free trade zone woos Indian companies V. Rishi Kumar
HYDERABAD, Jan. 27 BACKED by a modern infrastructure and one-stop centralised regulatory clearances and a tax-free regime, the Sharjah Airport Free Trade Zone (SAIF), which has about 48 per cent Indian companies out of 907 located there, has come to Hyderabad as a part of Gitex delegation to woo Indian investors. Mr Humaid Al Khatri, a member of SAIF senior marketing team, told Business Line that the SAIF provides an ideal platform for Indian companies seeking to get global. ``By providing the right infrastructure, at SAIF we help enterprises to swiftly establish their facilities. We are keen to attract more Indian companies whose numbers are growing by the day. Infosys, ICICI Infotech, Godrej Boyce, Ashok Leyland, GE International are among those who are part of SAIF, and we expect more Indian companies to look at leveraging the potential of SAIF as it services as an ideal hub for global operations. The infrastructure and the free trade culture compliments faster growth, he explained. "We have come here to promote the free trade zone among the Indian community, which is also the largest investor in the zone. If they want to go global, we provide the right infrastructure, which helps them quickly move up. This is particularly so in the case of information technology as already many Indian companies are there," he explained. "The last three days in Hyderabad have been extremely encouraging and we expect this to benefit us. We are coming to India from the last two years and we are working closely with the Confederation of Indian Industry and the Federation of Indian Chamber of Commerce and Industries and exploring ways to leverage each other's competencies," Mr Khatri said. The representatives of SAIF have also interacted with the officials of the Andhra Pradesh Government and the Chief Minister, Mr N. Chandrababu Naidu, and we expect this interaction will turn into long term business relations, he said.
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