Jagtiani tops GCC Indian Rich List with $3.2bn

Posted by: Madhav Bodas Saturday, 4 February 2012 5:12 PM[UAE] - UAE

That this region and particularly UAE is a land of opportunity to all entrepreneurs is no doubt. The ones who came early and ventured in to business have really done well for themselves.
Its kudos to UAE and its business friendly policies, if top five names happen to be from this region !

Posted by: Jamal Sharif Sunday, 21 October 2012 10:46 AM[UAE] - UAE

A big omission is Sunil Vaswani, a Dubai based multi billionaire who owns a multinational business in 18 countries world wide; could easily be within the top three. Most international banks would endorse this...

Posted by: viju Saturday, 4 February 2012 2:18 PM[UAE] - uae

Very impressive nouveau rich list. While the list of Indian wealth increases in both the GCC and in India as the economy there comes of age, the thing missing appears to be elegance, class and philanthropy by these groups. Maybe in another 100 years or so,

Posted by: kumar Monday, 24 October 2011 9:03 AM[UAE] - india

Although Indians have traded with the Arabs for several centuries and continue to do so, unlike other nations on this list where people of Indian origin become naturlized citizens, this is not the case in many parts of the Middle East. Finding Indians in elected positions or holding ministers positions is extremely rare and uncommon,thereby forcing most of the Indian population into the business sector of the economy. However, this has not been to their disadvantage, and many NRI's have overcome this and many other obstacles to become household names in the region.Wealth and prominence go hand here, as it is the Indians who are keen participants in Business Circles who also command the most face time in the local press and media, therefore it is no surprise that the most prolific Indians in the Middle East also part of the wealthiest and most powerful trading families in this region.The Merrill Lynch wealth report estimates that there are 33,000 Indian dollar millionaires in the UAE.

Posted by: Aryan Sunday, 2 October 2011 9:58 AM[UAE] - india

As a wealth manager, I found the list quite interesting. Good efforts by your team. We do some research within our bank as well and there are some observations I would like to share:

1) There is atleast one candidate in this list, who is quite leveraged in his investment. Hope your team has checked the loans taken by these individuals as well

2) Wealth mentioned against some candidates is their family wealth and not individual wealth. So the wealth should either be divided among family members before identifying their networth or you need to put family name instead of individuals name.

Just one more observation, forbes has similar calculation pattern but has just come up with one name from this list. Is your discounting rate more liberal than what they have adopted ?

Nevertheless, good efforts and i am sure all indian gcc residents would be eagerly waiting for your next one.

Posted by: bhavan Wednesday, 28 September 2011 9:34 AM[UAE] - dubai

Good list, but you missed a few you might want to consider next year-
Ramesh Prabhakar ? Rivoli Group
Vijay Malhotra & Suresh Subberwal ? Al-Kabeer Group
Kokil Pathak ? Al Basti & Muktha
B.S. Abdul Rahman - Emirates Trading Agency
j.R. Gangaramani ? Al Faara Group Of Companies
J.P Kalwani ? Al Safeer Group
Joozar Lightwala ? Sharaf DG
Aniyan Kutty ? Clarion Shipping
Abu Ali Shroff ? Aerotrans & Sheffield Group
Eugene Maye ? Tristar Transport
Fakhruddin Ebrahimji Hamid-Fakhruddin Ebrahim Al Hindi
Kuldeep Singh Grewal ? Elcome International
Harish Pawani ? Peekay Investments
Madhu Koneru ? Trimex Group
Bharat Narayanan ? Hunter Foods
Sunil Vaswani ? Stallion Group
Amarnani Family ? Viva Ventures
Manohar Lal Lahori ? Palmon Group