The Indian community is among the largest segment of ex-pat diaspora in the middle-East GCC (Gulf Cooperation Council) countries comprising of Saudi Arabia, UAE, Oman among others and have influenced the socio-economic landscape across the region.
Here, we look at the list of top 10 Indian businessmen in Dubai, the economic hotspot of the GCC region:
Company: Stallion Group |Industry: Diversified |Net Worth: $7.7Bn
The richest Indian in the entire Gulf region for the fourth year running, Vaswani has made windfall gains with his investments in the African continent. In fact, he is also known as ‘Africa’s man in Dubai’ – a moniker to showcase his deep connections with the African continent and is a beacon of investment for other GCC-based businesses.
Stallion group’s interest range from rice, fertilizers, fish, edible oil, sugar, building materials, and others. They also manage an exclusive brand portfolio of automobiles including Nissan, Honda, Hyundai, Porsche, Volkswagen, Audi, Skoda, etc. The group has expanded to 18 countries now.
2. Yusuffali MA
Company: Lulu Group International|Industry: Retail |Net Worth: $6Bn
With a $6.9Bn turnover, Lulu Group International has 144 stores across 21 countries globally, employing over 40,000 people.
It has also expanded in India and aims for a greater push in hospitality, IT and construction, The group has earmarked $2Bn set to build malls, hotels, convention centers among others and includes five million sq.ft of IT space in Kochi by 2021.
3. Feroz Allana
Company: IFFCO Group | Industry: Retail| Net Worth: $4Bn
With a strong portfolio of popular local FMCG brands such as London Dairy, Tiffany, Noor and Rahma, the IFFCO group is a well-known family business in the Middle-East. Feroz Allana has been in this list of top 10 Indian businessmen in Dubai for many years.
4. Dr. Shamsheer Vayalil
Company: VPS Healthcare | Industry: Healthcare | Net Worth: $2.8Bn
One of the fastest-growing healthcare providers in the region, VPS Healthcare group comprises 22 hospitals (including the flagship Burjeel chain) and 13,000+ employees across the Middle-East, UK and India, thus being one of the top 10 Indian businessmen in Dubai.
5. Shaji Ul-Mulk
Company: Mulk Holdings | Industry: Construction | Net Worth: $2.7Bn
Mulk Holdings is best known for its flagship brand Alubond USA – the world’s largest metal composite brand and first aluminum composite panel in the UAE market. Shaji Ul-Mulk is also the owner and chairman of T10 cricket league – a revolutionary 90-minute format cricket tournament, held in the Emirates.
6. Thumbay Moideen
Company: Thumbay Group | Industry: Healthcare | Net Worth: $2.6Bn
Thumbay Group was established in 1998 and within this span, the Thumbay chain of hospitals is one of the largest healthcare facilities in the UAE, serving patients from across the world.
7. Rizwan Sajan
Company: Danube Group | Industry: Construction | Net Worth: $2.5Bn
Danube Group has grown to become the No. 1 player in the GCC region for building materials and Rizwan Sajan reserved his position among the top 10 Indian businessmen in Dubai. The company employs over 3,000 people and operates in over 9 countries.
8. BR Shetty
Company: NMC Healthcare | Industry: Healthcare | Net Worth: $2.45Bn
The flagship company NMC Health started in 1975, is the largest healthcare provider in GCC region and its success has allowed the group to diversify into financial services, food & beverages, pharmaceutical manufacturing, and real estate. It employs over 18,000 people with a presence in 45 countries.
9. Sunny Varkey
Company: GEMS Education | Industry: Education | Net Worth: $2.2Bn
Sunny Varkey cannot be skipped from the list of top 10 Indian businessmen in Dubai as GEMS Education has become a household name in the field of education within UAE. GEMS is the largest operator of K-12 schools in the world and operates 250 schools across 13 countries.
10. Dr. Ravi Pillai
Company: RP Group | Industry: Diversified | Net Worth: $2.15Bn
The group’s fortunes rose from its construction business. Till date, it has executed over $25Bn worth of projects in the Middle-East and India. It operates over 20 companies with interests ranging from construction, hospitality, education, and information technology, with Dr. Pillai counted among the top 10 Indian businessmen in Dubai.
Thus, Indian businesses have contributed greatly to the prosperity and economic development of the UAE and it would not be an exaggeration to say that they are considered as valuable assets to the middle-east Asian nation.