The new trend of NRIs holding their investments in USD and AED is linked to the changing profiles of Indian expats in the UAE – and the wider Gulf region
indian expats
Latest in indian expats
indian expats
Massive spike in remittances by Gulf-based NRIs as rupee nosedives to record levels
The rupee’s sharp decline is likely to drive a further increase in non-resident Indian (NRI) remittances, particularly from the Gulf region
indian currency
Indian rupee makes historic plunge; dips past 86 against USD for the first time
The rupee’s slide show was accentuated by a record surge in crude oil prices, sustained outflow of foreign capital from India and a negative trend in domestic equity markets
business leaders
Prominent Indian businessman Ram Buxani dies in Dubai at 83
Buxani, previously the chairman of ITP Cosmos Group, arrived in Dubai in November 1959 when he started his career as an office assistant at the age of 18
India
NRIs under scrutiny: India’s IT Department cracks down on tax evasion: Report
The tax department has issued notices to numerous NRIs, requesting signed affidavits confirming their non-resident status and specifying the days spent in India
Educational institutions
India to support initiatives to start schools in Gulf countries teaching the Indian curriculum
UAE has largest number of Indian schools in Gulf
India
UAE employs most Indian expats, population reaches 3.554m
Indian government identifies 7.932m Indians in UAE, Saudi Arabia, Kuwait, Qatar and Oman
Gulf region NRIs
8.9m Indians live in UAE, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain
66% of non-resident Indians live in Gulf countries
Arab world
Indian population in the Arab world reaches 9mn, says Indian minister
India’s trade with Arab countries has also crossed $240 billion
gold coin prizes
Another Indian expat wins Mahzooz’s ‘guaranteed’ AED1m prize this week
The 300 gms gold coins Ramadan special prize also bagged by an Indian expat
India
NRIs widen investments into commercial, rental properties as Indian real sector shows take off signs
NRIs are also now increasingly opting for under-construction projects by leading developers, contrary to the earlier trend of NRI demand for ready-to-move-in properties
expat remittances
Indians living in UAE and Saudi allowed to make payments through UPI
Indian expats can now make UPI payments through the government-backed system while in India or abroad through NRE accounts
expat remittances
UPI payment facility for NRIs: Remittances to India by currency exchange houses set to see big fall
Banks in GCC will also be impacted as the number of remittance transactions could come down significantly with expats resorting to few and large transfers instead of numerous small transfers
India
India reveals new postal stamp honouring nation’s overseas migrant workers
Most of India’s migrant workers live in the GCC countries
Brand View
Faster US EB-5 Golden Visa processing for Indian GCC residents
With the relaunch of the United States EB-5 golden visa, Indian residents in the UAE and neighbouring Gulf countries can now benefit from faster processing of their US Green Cards
Anarock Property Consultants
Revealed: Dubai surging in popularity as destination for property investment from wealthy expat Indian professionals
Non-resident Indian professionals from cities like London, Singapore are looking for residential properties starting from AED4 million in upmarket areas such as Dubai Land, Arabian Ranches and Meydan
expat remittances
Expat Indian remittances from Middle East set to surge as rupee totters around 80 against USD
India’s decision to amend certain rules related to the FCRA to allow residents to receive up to $12,644 – up from $1,264 earlier – from their expat relatives without informing authorities is also expected to add to the remittances flow