New Delhi: In a significant step towards advancing India–Arab economic relations, the India & Arab Countries Chamber of Commerce, Industry & Agriculture (IACCIA) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM) on 30-7-2026, signed a Memorandum of Understanding (MoU) to promote bilateral trade, investment, industrial collaboration, and business partnerships between India and the 22 Arab countries.
The MoU was signed by Mr. Saurabh Sanyal, Secretary General, ASSOCHAM, and Dr. Waiel Awwad, Secretary General, India & Arab Countries Chamber of Commerce, Industry & Agriculture (IACCIA).
The MoU establishes a strategic framework for cooperation between the two organizations aimed at facilitating business-to-business (B2B) engagement, investment promotion, trade missions, policy dialogue, sector-specific partnerships, and market access initiatives that will benefit businesses in India and across the Arab world.
The agreement reflects a shared commitment to leveraging India’s expanding network of Free Trade Agreements (FTAs) and comprehensive economic partnerships to unlock new commercial opportunities for Indian and Arab companies.
Speaking at the signing ceremony, Dr. Waiel Awwad, Acting Secretary General of IACCIA, emphasized that the partnership marks an important milestone in strengthening institutional cooperation between India’s business community and the Arab world.
“The future of India–Arab relations must move beyond traditional trade towards long-term investment partnerships, integrated value chains, technology transfer, innovation, and sustainable economic cooperation. This MoU is not merely an agreement between two institutions; it is a commitment to creating practical business opportunities that connect Indian enterprises with the dynamic markets of the Arab world,” Dr. Awwad said.
He highlighted India’s remarkable progress in expanding its global trade partnerships through landmark agreements such as the India–UAE Comprehensive Economic Partnership Agreement (CEPA) and other strategic trade arrangements with major economies, noting that these initiatives have created unprecedented opportunities for Indian businesses to expand internationally.
Dr. Awwad further stressed that while trade agreements provide the framework, institutions such as IACCIA and ASSOCHAM play a critical role in translating policy into tangible business outcomes by connecting companies, facilitating investments, and supporting entrepreneurs—particularly Micro, Small and Medium Enterprises (MSMEs)—to access new international markets.
Under the MoU, IACCIA and ASSOCHAM will collaborate on a wide range of initiatives, including:
- Organizing business delegations, trade missions, and investment forums.
- Facilitating B2B and B2G meetings between Indian and Arab businesses.
- Promoting joint ventures, industrial partnerships, and technology transfer.
- Supporting MSMEs in accessing emerging opportunities across Arab markets.
Encouraging cooperation in renewable energy, healthcare, pharmaceuticals, agriculture, food security, manufacturing, logistics, infrastructure, education, digital technologies, and innovation.
Sharing market intelligence and strengthening institutional cooperation between the two organizations.
The partnership also aims to enhance awareness of investment opportunities created by India’s growing network of trade agreements and strengthen engagement with sovereign wealth funds, financial institutions, investment agencies, chambers of commerce, and private-sector organizations across the Arab region.
The Arab world remains one of India’s most important strategic economic partners, with bilateral trade exceeding US$300 billion annually. The region plays a vital role in India’s energy security, logistics, infrastructure development, investment flows, food security, and expanding commercial engagement with Africa and the wider Middle East. At the same time, India’s strengths in pharmaceuticals, healthcare, information technology, manufacturing, engineering, agriculture, education, and innovation present significant opportunities for deeper collaboration with Arab economies.
The MoU underscores the shared vision of IACCIA and ASSOCHAM to build a stronger institutional bridge between India and the Arab world by fostering sustainable partnerships, encouraging cross-border investment, and creating long-term value for businesses and entrepreneurs on both sides.
Both organizations reaffirmed their commitment to transforming the agreement into concrete action through regular business engagements, policy dialogue, investment facilitation, sector-focused initiatives, and collaborative projects that contribute to shared economic growth and prosperity.
About IACCIA
The India & Arab Countries Chamber of Commerce, Industry & Agriculture (IACCIA) is dedicated to promoting trade, investment, industrial cooperation, technology transfer, and sustainable economic partnerships between India and the 22 member states of the League of Arab States. The Chamber serves as a strategic platform connecting governments, businesses, investors, and institutions to strengthen India–Arab economic relations.
About ASSOCHAM
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is one of India’s premier industry bodies, representing a broad cross-section of Indian businesses and serving as a key partner in promoting economic development, industrial growth, innovation, policy advocacy, and international trade.
