Ducab, a United Arab Emirates-based manufacturing firm, has set up its first office in Bengaluru. The firm said Thursday that it aimed to work on several mobility and transportation-related projects, including in Bengaluru, as part of the Comprehensive Economic Partnership Agreement (CEPA) signed in 2022 between India and the Arab country.
As part of the agreement, the company aims to tap the opportunity of reduced taxes under the CEPA. In addition, the duties will also come down to zero in five years, reducing 20 per cent each year. “The pact is expected to boost non-oil trade between the two countries to $100 billion in five years from $60bn currently, opening additional avenues of investment,” a release from the company said.
