The co-founder of Lenskart recently had a meeting, possibly in Dubai, to discuss the company’s presence in Dubai. Lenskart has been operating in the region for the past couple of years. It seems Dubai could be a strategic hub for them in expanding reach in the Middle East. The same approach is being adopted by several Indian business houses to tap into the Gulf market.
What makes Dubai appealing to businesses like Lenskart is its business-friendly environment. Dubai offers the advantage of allowing 100% foreign ownership in many economic sectors, a feature that is attractive to international companies looking to establish a foothold in the region. Additionally, the emirate boasts over 30 free zones, each designed to cater to specific industries, providing specialized support and incentives for businesses.
Furthermore, Dubai’s favorable tax environment, streamlined business processes, and top-notch logistics infrastructure have cemented its reputation as a global business hub. Its strategic location, in close proximity to India, adds another layer of appeal. This geographical proximity makes it feasible for Dubai to achieve a substantial $100 billion non-oil trade volume with India, a goal emphasized by Badri.
The discussions between Lenskart and various chambers of commerce and industry organizations in the region have been characterized as very positive. These chambers are eager to explore ways to enhance connectivity between India and the UAE, fostering stronger economic ties.
One key factor contributing to this favorable business climate is the hospitable treatment that businesses from India and other nations receive in Dubai. Dubai has consistently been recognized for its open and welcoming approach to foreign investors and entrepreneurs, making it an attractive destination for trade and investment opportunities.
