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The UAE is a land of opportunities, which can give you a lot more than you could possibly imagine. A place where every dream can turn into reality if you make the most of each opportunity that comes your way. It is no less than a wonder if we look at the exponential growth this country has seen since its independence in 1971. In the past 50 years, UAE has seen massive economic growth and is currently the second largest economy in the Gulf Cooperation Council with a GDP of over $421 billion. The country is one of the most open countries when it comes to economy. It was ranked 16thin the 2020 ease of doing business report published by the World Bank Group. This is an accomplishment which makes its way due to the business-friendly spectrum of the UAE administration.
The oil and petroleum trade that takes up more than a quarter of the country’s GDP is one of the major economic activities. A lot of labor-intensive work is required in the oil and petroleum refineries. The sector also provides employment opportunities to a lot of skilled workers and professionals. With the diversification of UAE’s workforce in the past two decades, the country has boomed with tertiary sector jobs in real estate, tourism, hotels, transportation, business, and finance, even construction and manufacturing. Amidst discovery of oil, the country became a hub of luxury and high living standards. People from all over the world came to Dubai with the hope of making a mark in the land of opportunities.
With a population of about 10 million, the country has roughly 2.75 million Indian expatriates which is around 38 percent of the total population of the UAE. Clearly Indian Diaspora constitutes the largest portion of this gulf countries population. About 15% of the Diaspora is settled in the emirate of Abu Dhabi, and the rest is in other emirates of the UAE. India and the UAE have had cordial relationship since the beginning of times. Indian merchants used to conduct trade via the Dubai port even before the discovery of oil in UAE. The oil discovery in the 1958 led to the influx of several Indian workers in the hope of economic and good lifestyle opportunities.
The UAE has about 99 percent foreign workers of which around 65% percent of Indians are engaged in various jobs related to construction companies, municipalities. Roughly 20% are nonprofessionals employed as salesmen, clerical staff etc. And about 15% of the Indians in UAE are professionals and businessmen. Indians have not just contributed to the employment sector of the country but also marked their presence as entrepreneurs. There are many notable franchises operated by Indians such as the Landmark Group run by Micky Jagtiani, The Jashanmal Group established by Rao Sahib Jashanmal and now being run by Tony Jashanmal, The Jumbo Group under the Chabbaria family and the famous Lulu group owned by Yusuf Ali M.A (Yusuff Ali Musaliam Veettil Abdul Kader).
The healthcare sector has name such as Aster DM Healthcare, VPS healthcare that are under the leadership of prominent Indians. Even in the higher education circles, Indian marks are visible in the form of Gulf Medical University whose foundation was laid down by Thumbay Moideen in Ajman, in the year 1998. It is considered as one of the best institutes in medical arena of UAE.
The investment market is a hotspot for both the countries. Indian government has invested about $85 billion in the UAE market. There are plans of $100 billion dollars trade between the two countries in the coming 5 years. There is no denying that UAE is a land of opportunities for those who seek better life possibilities and Indian diaspora adds value to the already remarkable social and economic development of the UAE.
