Overview
Dubai Chambers, the non‑profit public entity that supports Dubai’s global business agenda, concluded two Memorandums of Understanding (MoUs) during a high‑level visit to Bengaluru. The agreements were signed with the National Association of Software and Service Companies (NASSCOM) and the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) to advance collaboration in Agentic AI, deepen deep‑tech cooperation, and strengthen bilateral trade and investment between Dubai and India.
MoU with NASSCOM
The NASSCOM MoU establishes a framework for cooperation in Agentic AI and deep‑tech, aiming to facilitate market access for Indian companies seeking to establish or expand operations in Dubai. It provides for knowledge‑sharing, ecosystem engagement, innovation initiatives, AI‑focused business delegations, B2B meetings, networking events, and other engagements that connect companies and stakeholders across the two markets. The agreement aligns with Dubai’s initiative launched in May 2026 to transition its private sector to Agentic AI within two years, positioning the emirate as a global centre for advanced technology adoption.
MoU with FKCCI
The FKCCI MoU is designed to strengthen trade, investment, and business collaboration between Dubai and the Karnataka state. Key cooperation areas include the creation of a Virtual Dubai Desk to serve as a single point of contact for companies exploring opportunities in Dubai, provision of market‑entry guidance, ecosystem orientation, and business expansion support. The parties will also organise regular round‑tables, knowledge‑sharing sessions, inbound and outbound business delegations, and sector‑focused engagements.
Delegation Activities
The visit, led by H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, comprised eight meetings with leading Indian business organisations and multinational firms, including Nasscom Deeptech, the Confederation of Indian Industry Karnataka State Council, FKCCI, and the Federation of Indian Chambers of Commerce and Industry Karnataka State Council. Dedicated round‑table sessions highlighted opportunities for Indian companies in Dubai and explored mechanisms to support market entry, partnership development, and bilateral trade expansion.
Membership Growth and Economic Impact
During the first half of 2026, 7,579 new Indian companies joined Dubai Chamber, bringing the total number of active Indian members to 85,841 by the end of June 2026 – a 15% year‑on‑year increase. Indian foreign direct investment (FDI) into Dubai amounted to US$2.28 billion in 2025. Conversely, Dubai’s cumulative investment in India reached US$9.3 billion across 147 projects between 2016 and 2025, creating 55,274 jobs.
Institutional Presence
Dubai International Chamber, one of the three chambers operating under the Dubai Chambers umbrella, maintains representative offices in Mumbai and Bengaluru. These offices enhance engagement with India’s business community and facilitate connections between companies and investors with Dubai’s ecosystem.
Statements
H.E. Mohammad Ali Rashed Lootah emphasized that Indian companies constitute Dubai’s largest foreign business community and that the MoUs will build on this foundation by advancing Agentic AI cooperation, strengthening trade and investment, and supporting more Indian firms to establish and expand in Dubai. He highlighted the significant new opportunities for Indian technology innovators arising from Dubai’s accelerated AI adoption drive.