Flicking through the newest edition of the Dubai SME 100 rankings, it is noticeable how many Indian businessmen and women are included in the list.
The rankings also brought to mind a recent interview with Caroline Hargreaves, the managing director in Dubai at Quintessentially Lifestyle, the members-only concierge club.
Speaking about membership, she said: “The demographic has changed slightly. There are certain cultures that are coming through more: [people who are] not Emirati, but born here. We are finding the Indian communities are now very strong, and growing, and they are looking for a lot more out of their lifestyles.”
“Interesting,” I thought. “I should look into this trend and write about the Indian movers and shakers in Dubai.”
I have not only been beaten to the punch but also trumped by Meraj Rizvi, writer and publisher of the new release Gen Next Indians, which tells the "inspiring stories" of 25 Indians who are part of the new generation of business leaders in the UAE.
Among those featured include Aditya Rajaram, assistant manager at Ernst & Young and the son of the chief executive of Al Nabooda, the UAE car dealership; John Paul Alukkas, the executive director of Joyalukkas jewellery group; and Kiran Chhabria, the director of Jumbo Electronics.
This is a glossy, coffee table book and the stories of these young and photogenic business executives and entrepreneurs are illustrated with plenty of photos — they are often snapped posing with their parents or against the glamorous backdrop of Dubai's skyscrapers. It is very easy on the eye.
But their personal accounts make for entertaining reading. We learn, for example, that 24-year-old Adel Rizwan Sajan, head of the retail division of building materials Dunube Group, was put to work during his summer holidays at 13 in one of his father’s warehouses where he was “sweating it out with all the other blue collar workers”.
More striking, though, are the plans of all these executives. The majority want to take the businesses their parents started and expand them by adding new lines or venturing into new international markets. They are an ambitious bunch.
q&a Meraj Rizvi, Xponent Media
Where did the idea come from?
This is my fifth coffee table book here in the UAE but the third book for the Indian community. My first book is called Pacesetters and is about the senior members of the Indian community who have been here for about 50 years and who have contributed in a big way to the economy of this country. The sequel is Pacesetters II. Trendsetters was about Pakistani achievers in the UAE. The other book is called Young Asian Achievers. When I was doing [the Pacesetters] books, I realised the next generation is more enterprising … and is contributing to the economy. I thought: "we should also bring to light the second generation or the next generation of Indians in the UAE". This is the first time the second generation of Indians is being highlighted in any particular form. A lot of people don't know who the second generation is [and how its members are] actively involved in business.
How did you select those profiled in the book?
Most of them are the children of the prominent families but we also had a committee comprised of senior members of the Indian community.
Where can I buy the book and how much will it cost?
Jashanmal and Borders stock my books. The price is Dh350.
Who do you think will buy the book?
The kind of people profiled in the book and those from the Indian community who want to know about the second generation of Indians. And the Indian missions here.
lgutcher@thenational.ae
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COMPANY%20PROFILE
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HEADLINE HERE
- I would recommend writing out the text in the body
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MEDIEVIL%20(1998)
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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FIGHT INFO
Men’s 60kg Round 1:
Ahmad Shuja Jamal (AFG) beat Krisada Takhiankliang (THA) - points
Hyan Aljmyah (SYR) beat Akram Alyminee (YEM) - retired Round 1
Ibrahim Bilal (UAE) beat Bhanu Pratap Pandit (IND) - TKO Round 1
Men’s 71kg Round 1:
Seyed Kaveh Soleyman (IRI) beat Abedel Rahman (JOR) - RSC round 3.
Amine Al Moatassime (UAE) walk over Ritiz Puri (NEP)
The%20stats%20and%20facts
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The five pillars of Islam
UAE v Ireland
1st ODI, UAE win by 6 wickets
2nd ODI, January 12
3rd ODI, January 14
4th ODI, January 16
UAE currency: the story behind the money in your pockets
MATCH INFO
Uefa Champions League quarter-final second leg:
Juventus 1 Ajax 2
Ajax advance 3-2 on aggregate
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
ON%20TRACK
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RESULT
Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45' 3), Batshuayi (85')
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
UAE currency: the story behind the money in your pockets
Zayed Sustainability Prize
A German university was a good fit for the family budget
Annual fees for the Technical University of Munich - £600
Shared rental accommodation per month depending on the location ranges between £200-600
The family had budgeted for food, books, travel, living expenses - £20,000 annually
Overall costs in Germany are lower than the family estimated
As proof that the student has the ability to take care of expenses, international students must open a blocked account with about £8,640
Students are permitted to withdraw £720 per month