The Indian community is the most populous expat community in the Gulf, and probably the most successful too. Many are long time residents of the region, having come to the Gulf much before the advent of oil that prospered the local economies.
Indians today play a significant role in the GCC as they helm businesses that form a backbone of the regional economies. Billionaires of Indian origin, based in the Gulf, have a collective net worth of $26.4 billion, according to Forbes’ World’s Billionaires 2018.
Having made their fortunes these top businessmen are now investing heavily, both in the region as well as in India. Lulu International Group is ramping up its presence in Saudi Arabia and now has 30 stores in the kingdom. The company plans to pump in more funds to the GCC’s largest economy with $136 million earmarked for investment in the next two years. Billionaire B.R. Shetty, who founded both UAE Exchange and NMC Health, is investing millions in education and healthcare within the Middle East and in India through public private partnerships model.
In order to list the top Indian business leaders, we collected information from questionnaires, annual reports of companies, government and industry body statistics as well as companies. However, individuals who requested not to be on the list were excluded.
Criteria For The Top Indian Business Owners
Financial Impact: Revenues of the company irrespective of ownership stake as long as the owner is controlling the company
Employment Impact: Number of employees
Age of the company
Transparency: On the basis of the quality and reliability of the information provided