All GCC’s based Indians, Pakistanis and other citizens of the Indian sub-continent form a formidable force of workers, employees and middle managers in all sectors of the industry, commerce and agriculture, education and services. The UAE for instance and the predominately low if not inexistent taxes, has become an attractive base for many entrepreneurs from India in sectors especially such as pharmaceuticals, retail and financial services from which they first start to operate and eventually grow and conquer other territories.
“Once upon a time it was just blue-collar workers, but now you are talking about entrepreneurs in trade and tourism, financial services, and maritime,” said one of the newly promoted entrepreneurs.
In effect, these last few years saw the emergence of a new class of powerful conglomerates at the head of which are individuals who command huge fortunes. It is the special socio-political arrangement of the GCC’s that allowed about 2.6 million Indians to live in the UAE, making them the biggest expatriate population in the country and the third-largest Indian expatriate community after those in the United States and Nepal.
Forbes Magazine recently listed and published last week, all UAE-based Indian billionaire’s names and some details on their respective businesses on its annual list of the 100 richest Indians. It rose from seven last year to nine.
It is worth noting that these entrepreneurs have despite their good fortunes and financial clout no political and / or social inference or representation in their respective host countries.
Emirates 24/7 News published on 27 September 2015 an article by Vicky Kapur. Here are some excerpts.
More Dubai-based Indians join ranks of richest people on planet
9 UAE-based Indian billionaires among India’s 100 richest
If there’s one thing common among the swelling number of billionaires of Indian-origin who call the UAE their home, it is that they’ve made their fortunes by the sweat of their brow and the might of their intellect.
For, there are now nine UAE-based Indian billionaires among Forbes magazine’s India’s 100 Richest ranking, and all of them are self-made.
While some may have had a headstart in terms of a small, existing business that they then took global, others literally started from scratch, and almost each one of these richest Indians in the UAE has a rags-to-riches tale to tell.
Nevertheless, not one of them was handed over their vast furtunes on a silver platter, with the UAE being the land that offered them a perfect platform for success.