The UAE, a sought after destination for the world’s high net worth individuals, is now ranked as the most favourite migration hub for the super rich non-resident Indians.
A leading authority on India’s private wealth, Hurun Report, said two other countries preferred as a migration destination by India’s 40 super rich non-residents are the UK and the USA.
There are 40 immigrants in Hurun India Rich list 2017 and 64 per cent of them are self-made. With 14 individuals, UAE is the most preferred destination for immigration, followed by 10 in the UK and 8 in the US.
Richest Indians in UAE
(Figures in Billion Dirhams)
Among the 40, with Rs882 billion, L.N. Mittal of ArcelorMittal is the wealthiest Indian immigrant in the UK. Micky Jagtiani of the Landmark Group, and M.A. Yusuf Ali of the Emke Group are ranked respectively second and third wealthiest Indian immigrants globally. Both, residents of the UAE, own Rs347 billion and Rs319 billion, respectively in fortune.
Richest Indians worldwide
According to the Hurun India Rich List – a list of the richest people in India with a cut-off at Rs10 billion – other wealthy non-resident Indians in the UAE include Sunny Varkey (Gems Education); BR Shetty (NMC), Adani Vinodbhai Shantilal (Adani Enterprises), Ravi Pillai (RP Group), Feroz Allana (IFFCO), Divyank Turakhia (Media.Net), Shamsheer Vayalil (VPS Healthcare), Tony Jashanmal (Jashanmal), Saket Burman (Dabur), Azad Moopen (Aster DM Healthcare) Rizwan Sajan (Danube) and Ramesh S. Ramakrishnan (Transworld).
“The total number of rich list entrants increased 6 times since we launched the list six years ago; a good indication that Indian entrepreneurs are coming of age with global ambitions,” said Rupert Hoogewerf, Hurun Report Global, Chairman and Chief Researcher.
With a networth of Rs2.579 trillion, Mukesh Ambani (60) of Reliance, ranked first in the list of super rich Indians for the sixth consecutive year. With a networth of Rs890 billion, Dilip Shanghvi (61) of Sun Pharma retains the second place despite shares of his flagship company going down by 36 per cent.
The steel baron, Lakshmi Niwas Mittal (67) secures third position for the first time with a networth of Rs882 billion due to an uptick in steel prices and demand. Others among the top 10 include Shiv Nadar (HCL), Azim Premji (Wipro), Cyrus S Poonawalla (Serum Institute of India), Gautam Adani (Adani Enterprises), Acharya Balkrishna (Patanjali Ayurved), Uday Kotak (Kotak Mahind), and Sunil Mittal & Family (Bharti Airtel).
In order to get these results, the Hurun India Rich’s methodology involved taking a snapshot of wealth as on 31 July 2017. The exchange rate used for US$ was INR 64.1. The list relates to those with Indian origin on their passports.
Courtesy: Khaleej Times , Hurun Report
This post was originally published on 27 September 2017 and the content may be outdated.