The President and CEO of Dubai Chambers discusses the India-UAE outlook for IT startups, opportunities, and more.

Mohammad Ali Bin Rashed Lootah, President and CEO of Dubai Chambers, thinks that Indian startups may significantly advance the UAE's objective of raising the contribution of the digital economy to the non-oil GDP of the UAE to 20% within 10 years.

He spoke during the Expand North Star event's opening ceremony, which was sponsored by the Dubai Chamber of Digital Economy and put on by the Dubai World Trade Centre (DWTC) as a part of GITEX Global. From October 15 to 18, the event will be place in Dubai Harbour.

The Expand North Star event has attracted more than 1,800 startups from 100+ countries and around 1,000 investors, with a combined total of more than $1 Tn under management.lel.

Expand North Star is hosting ‘India Central’, a gathering of more than 300 Indian startups exhibiting their products and business ideas under one roof. While some of the startups took part in previous editions, the number of participants has tripled this year, and many have already secured Series B funding.

“When we look at the digital economy [in India], we look at all sectors and anything relating to technology as participating and contributing [factors] to the city’s GDP growth, as long as Dubai can provide the connectivity and the support for growth and scaling. That is why we are not taking a very selective approach or limiting our chances by picking any specific sector,” said Lootah.

“We aim to ensure that we have growth on a horizontal level, positioning Dubai as a global hub for the digital economy. The success of Expand North Star is a good sign, and this really cements the great relationship that the UAE and Dubai specifically have with India, not just at a government level but also across business levels,” added Lootah.

“I am sure a lot of Indian companies are well aware of this. So, they are working closely with their Indian peers here to script success stories. I think this is increasing the momentum of having more Indian companies here,” added Lootah.

The event also launched the App Olympics competition as part of the Create Apps in Dubai initiative, open to global tech startups keen to set up a presence in Dubai.

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