Where is the next generation of rich Indians?

Posted by: Navin Sharma Tuesday, 27 September 2011 2:06 PM[UAE] - UAE

The next generation of Rich Indians is in India! You will find a hundred young indians in the $200 Million league in any mid size town in India, there are Real estate, Media, Contruction, Retail, Software moguls being made everyday in India.

Indian's were succesful in the 60's 70's and 80's in the Gulf because there was oppotunity here and few regulations, now there is opportunity in India and you will find Indians there but yes they will not get the same unregulated labor market with job bans visa bans etc that led to obscene profits being made in education, healthcare and retail sectors which normally should have a social touch as well.

Posted by: Anilesh Tuesday, 27 September 2011 9:12 AM[UAE] - UAE

Surely, the previous generation had the advantage of being around during 'a' growth period that saw Dubai transform. But, this does not mean that the younger generation cannot repeat or better their achievements - i guess an entrepreneur has to make the most of the business environment that he/she is in, and provide exceptional goods or services that sell effectively, recession or not... Yes, the rich list will change over time with expat Indian newcomers who make it big, but i doubt it will include too many second generation Indian youngsters as they (mostly) prefer driving a Mercedes to risking capital for a new venture!

Posted by: Samhit Monday, 26 September 2011 8:02 PM[UAE] - dubai

Where else in this world will u get cheap indian captive labour(banned if u decide to look for greener pastures) to give your business the edge. A cursory comparison at the pay structure of these companies with their competetors will shed light on their success secrets. Its not for the love of their country that they are employing their own countrymen! Besides the system in this country is tailormade for them to become vulgarly rich. There might be exceptions but the common thread through all these success stories is less pay for more work(understaffed??), no freedom for employees to move jobs(check the pharma guy), a monopoly dealership or agency, etc.,

Posted by: DUBAI DIARY Monday, 26 September 2011 2:07 PM[UAE] - dubai, UAE

My father came here in '75 and we're still here in Dubai. He has his business and so do I in another field. What I have been telling him all this while is that whatever he and his likes did successfully with one step till10 or 15 years back, today we need to take 100 or more steps for the same thing and then face failure. Its law of averages now. Before there was no LOA everybody was welcome. It was free for all and everybody was invited, today its not true. There was no traffic, no salik, no parking fees and biggest of all... No Competion!!! I would be impressed to see the list of millionaires who made it in the last 10 years and that too minus those Real Estate over night rich gang. Yes I agree that Indians are good at business and the community thrives here because of their excellent acumen at work which is conservative when need be and professional when its called for!!! But there are hoardes of those unprofessional idiots too who are actually in large nos spoiling the reputation.

Posted by: Vineet Monday, 26 September 2011 8:05 PM[UAE] - UAE

I agree with Dubai Diary on one specific point in particular. Can you please look up (or compile) a list of the millionaires who have made it in the last 10 years alone. Lets keep the real-estate "gurus" out of this list please.

And I don't get it, what is Wadah Khanfar doing in this article?

Posted by: karpaka rajan v chettiar Sunday, 25 September 2011 7:17 PM[UAE] - UAE

it is true that a handful of people have made riches beyond what they themselves had dreamt. However, there are many who have fixed realistic goals and achieved through fair means. Let us not be party for one vulnerable to form unrealistic dreams and be pushed to desperation. Let us motivate people to form realistic dreams, motivate them to design effective plans and execute the plan to achieve their realistic dreams. there is not substitute to hard work.