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Forbes honours 100 Gulf-based Indian businessmen


May 18th, 2018

Yusuff Ali.

Over 100 Indian businessmen and executives based in the UAE have been recognised for their phenomenal success in the Arab world by Forbes Middle East who have a collective net worth of $26.4 billion.

Titled “Top 100 Indian leaders in the Arab world”, the list consists of the heads of the region’s top companies, as well as the most influential of experts, Forbes said in a statement.

Billionaires of Indian-origin, based in the Gulf, have a collective net worth of $26.4 billion, according to Forbes’ World’s Billionaires 2018.

The top three individuals, who are self-made billionaires in the UAE with a combined net worth of more than $12 billion, are leading the rankings, with retail magnate Yusuff Ali M A, managing director of LuLu Group International, taking the crown as the top business owner.

The Indian tycoon is the third-richest self-made billionaire in UAE with a net worth of $5 billion, Gulf News reported.

Also UAE-based businessmen B R Shetty, who holds a net fortune of $3.6 billion, and Ravi Pillai, with a net worth of $3.5 billion, are ranked second and third, respectively.

These top businessmen have now shifted their gaze and are claimed to also be investing heavily in the Arab region as well as India.

Navdeep Singh Suri, Ambassador of India to the UAE, said that the Indian community across the UAE holds key positions in all the different aspects of life.

“The work Indian leaders are doing in the region displays the finest aspects of India and we are privileged to have these leaders being ambassadors to the UAE and bridging the gap between the two countries,” he said.

Mr Suri also went on to say that the Indian businessmen have not only shone with their business successes, but that they also have been a contributing factor in India’s success in various sectors, including healthcare, retail, construction, hospitality and manufacturing.