Indo-Gulf and Middle East Chamber of Commerce came into being.

Kochi: The Indo-Gulf and Middle East Chamber of Commerce has been set up to enhance
financial, industrial, commercial, and cultural exchanges and develop investment
opportunities between professionals and businessmen in India and the Middle East. Dr. K.S.
Bhagwat Kishan Rao Karad, Minister of State for Finance, India, formally inaugurated the
chamber through a video conference in a function held at the Flora Inn Hotel, Dubai. During
his speech, the minister recalled the decades-long strong trade and cultural ties between India
and Central Asia. The Gulf countries, especially the UAE, are becoming India’s largest
trading and economic partners. This development will ensure growth in the region, the
minister pointed out. He said an agreement had been reached between the two countries to
record trade growth worth $ 100 billion by 2030. He hoped that the Arab-Indian trade and
cultural exchange and other related sectors will be hugely benefited by the efforts of the new
chamber.

Kerala Industries Minister P Rajeev, Sharjah saif Zone and the Hamriyah Free Zone Director-
General Dr. Saud Salim Al Mazrouei,  eminent Indian English writer Chetan Bhagat, Iram
Group Chairman Dr. Siddeek Ahmed, and other dignitaries talked on the occasion. NM
Sharafuddin, Chairman, Indo-Gulf and Middle East Chamber of Commerce, presided over
the function. Vice-Chairman James Mathew welcomed and Secretary-General Dr. Suresh
Kumar Madhusoodanan thanked. Ahmed Kabir (Saudi Arabia) Vice Chairman, Mohammed
Rafi (Dubai) Founder Director, and Davis Kallumkulam (Oman) also participated in the

function. The event was also attended by other prominent entrepreneurs in India and the
Middle East either via video conference or in person.