Dubai Based Ducab Metals Eyes 50% Export Growth To India By 2025 Under India-UAE CEPA

(MENAFN- KNN India) New Delhi, Feb 18 (KNN) Ducab Metals Business (DMB), a leading industrial enterprise in the UAE, announced on Monday its strategic expansion plans for the Indian market.

The company, which currently derives 25 percent of its global exports from India, aims to double this figure to 50 percent by 2025 under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).

Market analysis indicates substantial growth potential in India's metals sector. The country's copper market, estimated at 660,000 tonnes in 2023, is projected to reach 1.03 million tonnes by 2030, growing at a compound annual growth rate (CAGR) of 6.6 percent.

Similarly, India's aluminum market, valued at USD 11.28 billion in 2023, is expected to expand to USD 18.84 billion by 2030, demonstrating a CAGR of 7.6 percent during the forecast period.

The bilateral trade relationship between India and the UAE has been strengthened by the CEPA, which introduces innovative features such as the use of Indian Rupee and UAE Dirham in bilateral trade.

This arrangement, unprecedented in India's trade agreements, facilitates enhanced market access for UAE exports through tariff reductions and removals across multiple products and sectors, including access to Indian government opportunities.

DMB's unique position as the sole producer of both copper and aluminum in the Middle East-North Africa (MENA) region establishes it as a crucial partner for India's energy, automotive, packaging, and healthcare industries.

The company's commitment to the Indian market is further evidenced by its recent acquisition of GIC Magnet, a UAE-based manufacturer, which enhances DMB's capabilities in innovation, sustainability, and product diversification.

Mohamed Al Ahmedi, CEO of Ducab Metals Business, expressed optimism about the company's expansion in India, stating, "India is a powerhouse of industrial growth, and DMB is committed to being a key enabler of this progress.

With rapid infrastructure expansion, increasing demand for sustainable materials, and a thriving manufacturing sector, India presents a tremendous opportunity for us to not just grow, but to innovate and contribute to the country's economic success."

The strategic focus on India aligns with the country's significant reliance on copper imports to meet domestic demand, as India is not currently a major copper producer.

This market dynamic, combined with extensive infrastructure development driving aluminum demand, positions DMB to play a crucial role in supporting India's industrial growth and development objectives.

(KNN Bureau)

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