Indian tech industry body Nasscom and the Dubai International Financial Centre (DIFC) signed a Memorandum of Understanding (MoU) on Thursday to foster cross-border partnerships in technology, particularly in fintech and innovation. The agreement aims to strengthen collaboration between India and Dubai, offering Indian companies access to the dynamic fintech ecosystem in the Middle East.

Under the MoU, the two organizations will share sectoral insights and development strategies, enabling member companies to explore new opportunities in artificial intelligence (AI), fintech, and innovative technologies. Nasscom members will gain direct access to DIFC's ecosystem, opening doors for collaboration with global innovators and industry leaders.

The MoU also outlines plans for engagement activities such as webinars, roundtables, roadshows, and workshops to facilitate interactions between the Indian tech ecosystem and DIFC. These initiatives aim to create a platform for knowledge exchange and business networking, fostering innovation on both sides.

“Through this collaboration, Nasscom member companies can tap into Dubai’s vibrant fintech ecosystem and collaborate with organizations at the forefront of technological advancements,” said Rajesh Nambiar, President of Nasscom.

DIFC CEO Arif Amiri emphasized the initiative’s significance, stating, “We aim to attract Indian technology companies to our AI, fintech, and innovation community, driving groundbreaking advancements that benefit the broader financial services industry.”

India’s fintech sector, with over 10,244 entities, ranks third globally, according to the Ministry of Finance. DIFC, a financial hub for the Middle East, Africa, and South Asia, houses 6,150 active companies and remains a central player in the region's economic transformation.

This partnership reinforces the growing synergy between Indian and global tech ecosystems, paving the way for mutual growth and innovation.