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Business EconomyPosted at: Sep 14 2021 9:22PM


Opportune time to forge partnership as Middle-East economies moving towards developing tech-based start-ups ecosystem: Uday Shankar

New Delhi, Sep 14 (UNI) Federation of Indian Chambers of Commerce and Industry (FICCI) President Uday Shankar on Tuesday said that it was an opportune time to forge a partnership as Middle-East economies were moving towards developing a tech-based start-ups ecosystem.

Addressing the session on the Future of India-Middle East Partnerships in Entrepreneurship and Start-Ups at LEADS 2021 organized by FICCI, he said, “This is an opportune time to forge a partnership as Middle-East economies are moving towards developing a tech-based start-ups ecosystem and partnership in this field is bound to pay rich dividends for both India and Middle East.”

Speaking at the event, Dr Siddeek Ahmed, CMD, ERAM Group, Saudi Arabia, said promoting a start-up ecosystem between India and Middle East would be a win-win for both India and the Middle East region and would complement each other in terms of the resources needed to develop this ecosystem.

Shaikha Noora Al Khalifa, CEO, and Chairwoman, Med Point Design, Bahrain, highlighted the importance of supporting women and empowering them for overall economic prosperity of the country.

Qusai A Alsaif, CEO, Sadu Capital, Saudi Arabia said, “There is a lot of potential in the start-ups ecosystem partnership between India and Saudi Arabia that can benefit the economy of both the region.”

Lujaina Mohsin Darwish, Chairperson, Mohsin Haider Darwish LLC, Oman, said, “New technologies such as AI and Quantum Computing will transform the world in big way and Oman will play a role in it by inviting Indian companies in this sector.”
It would provide opportunity to the youth of Oman and lead to the country’s economic growth, she added.
Vaibhav Tewari, Co-Founder and Chief Executive Officer, Portea Medical, India said, “Home healthcare is crucial for India’s healthcare system. This area holds importance as it has seen tremendous growth in recent times.”
He also mentioned that the company is looking towards taking home healthcare to more than 100 cities of India.
Tushar Vikram, Managing Director and Head of Commercial Banking, Citigroup, India, said, “Food-Tech is a key area for partnership between India and Middle-East countries as Middle-East imports 90 per cent of its food requirements. More than 60 per cent of people in India are employed in the agricultural sector.”
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