Forbes reveals top Indian businessmen, executives in the Arab world

This post was originally published on 5 May 2016 and the content may be outdated.

Forbes Middle East has revealed the region’s most successful Indian businessmen and top management level heads under the category “Top 100 Indian Entrepreneurs” and the “Top 50 Indians in Executive Management in both multinationals and Arab companies.”

“Indians make up the largest chunk of expats in GCC countries. They contribute a great deal to the economy, as labourers on construction sites, or founders of multi-billion dollar conglomerates,” says the international magazine.

The names were announced at the Forbes Middle East Gala Dinner held at Waldorf Astoria Dubai Palm Jumeirah on Tuesday, in the presence of top leaders from the Indian business community in the region as well as high-profile executives from across various industries and sectors.

The ranking has two lists – one of Indian entrepreneurs and the other of the top Indian executives in the region.

Top 10 Indian Entrepreneurs category

  1. Mukesh Jagtiani, Chairman of Landmark Group (net worth: $4.4 billion)
  2. Yusuf Ali M.A., Managing Director of Lulu Group International (net worth: $4.2 billion)
  3. B Ravi Pillai, Chairman and Managing Director of RP Group (net worth: $2.9 billion)
  4. Sunil Vaswani, Group Chairman of the Stallion Group (net worth: $2 billion)
  5. Sunny Varkey, Chairman of GEMS Education (net worth: $1.9 billion)
  6. Dr BR Shetty, Founder of NMC Hospitals and UAE Exchange (net worth: $1.8 billion)
  7. PNC Menon, Chairman of Sobha Group (net worth: $1.5 billion)
  8. Dr Azad Moopen, Chairman of DM Group (net worth: $1.5 billion)
  9. Rajen Kilachand, Chairman of Dodsal Group
  10. Dr Shamsheer Vayalil Parambath, Managing Director of VPS Healthcare

Top 10 Indians in Executive Management category

  1. Sanjeev Chadha, CEO for Asia, Mena at PepsiCo International
  2. Sanjiv Kakkar, Executive Vice President for Mena, Turkey, Russia, Ukraine and Belarus at Unilever
  3. Raghavan Seetharaman, Group CEO at Doha Bank
  4. Sanjay Manchanda, CEO of Nakheel
  5. Adnan Chilwan, Group CEO at Dubai Islamic Bank
  6. Raghu Malhotra, President- Middle East and Africa for MasterCard
  7. Amit Jain, Group COO discharging duties of CEO at Emaar Properties
  8. Vijay Malhotra, Chairman and CEO- UAE and Oman at KPMG Lower Gulf
  9. Vishesh Bhatia, CEO at Jumbo Electronics Co.
  10. Tariq Chauhan, Group CEO at EFS Facilities Services Group

Some of the leaders inherited family businesses that have been operating in the region for decades, with 10 running businesses that are over 50 years old.


To rank the 100 top entrepreneurs, Forbes used the following criteria:

  • Revenues
  • Number of employees
  • Age of the company
  • Visibility: professional associations and media exposure.

To rank the 50 top executives, Forbes relied on:

  • Experience
  • Geographical reach
  • Number of employees
  • Position

Of the 100 entrepreneurs, 91 are based in the U.A.E., a testimony of the ease of doing business in the country. In fact, four of the top 10 later moved their headquarters from other countries to the U.A.E.

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