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25 richest Indians in the Gulf

Last updated on: February 14, 2013 16:12 IST

25 richest Indians in the Gulf

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The Gulf Cooperation Council (GCC) countries have 10 Indian billionaires.

According to the first-ever GCC Indian Rich List published by financial weekly magazine 'Arabian Business', Landmark Group founder Micky Jagtiani - who once worked as a London cab driver - topped the list.

The top 50 are worth $40.2 billion, with their average wealth at $1.57 billion.

Find out more about the richest Indians in the Gulf...

1. Micky Jagtiani
Founder, Landmark Group
Wealth: $4.5 billion

Landmark Group started off with a single store in Bahrain in 1973. Today, it is one of the largest retail conglomerates in the Gulf.

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Image: Micky Jagtiani.


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2. Feroz Allana
Founder, IFFCO
Wealth: $4.3 billion


Established in 1975, IFFCO is a UAE- based business house, which manufactures and markets a well-integrated range of consumer products.

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Image: Feroz Allana (Inset).


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3. Raghuvinder Kataria
Chairman, Kataria holdings
Wealth: $2.5 billion

Raghuvinder Kataria founded JT Telecom, a joint venture between Telia of Sweden and Thailand-based Jasmine Telecom. The JV company later merged with Sunil Mittal's Bharti Enterprises.

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Image: Raghuvinder Kataria.
Photographs: Courtesy, arabianbusiness.com.
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4. Yusuffali MA
Wealth: $2.2 billion
Founder, EMKE Group

EMKE Group owns many brands including the Lulu chain of hypermarkets. Last year, it opened its 100th store, and the firm was ranked the world's ninth fastest-growing retail group by Deloitte.

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Image: Yusuffali MA.
Photographs: Sadique1990/Wikimedia Commons.

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5. BR Shetty
Founder, NMC Group
Wealth: $1.9 billion

The NMC Group was established in 1975 has diversified into sectors including pharmaceuticals, global financial services, retail, advertising and Information technology.

NMC Group is planning to open hospitals in Saudi Arabia and Qatar.

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Image: BR Shetty.
Photographs: PHMS/Wikimedia Commons.

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6. Ravi Pillai
Founder, RP Group
Wealth: $1.85 bn

The largest employer of Indians in the Gulf region, Ravi Pillai founded the RP Group. It has interests in construction, travel and tourism, healthcare, retail and education sectors.

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Image: Ravi Pillai.


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7. Sunny Varkey
Founder: GEMS Education
Wealth: $1.6 bn


Sunny Varkey founded GEMS Education, one of the largest private school operators for students from kindergarten to grade 12.

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Image: Sunny Varkey.


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8. Vidya Chhabria
Director, Jumbo Group
Wealth: $1.4 bn

Vidya Chhabria took over the Jumbo Group after her husband, Manu Chhabria's demise in 2002. 

Jumbo Electronics is one of the biggest names in the field of consumer electronics, information technology, telecommunications, home appliances, office automation and entertainment in the UAE.

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Image: Vidya Chhabria.

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9. Tony Jashanmal
Founder, Jashanmal Group
Wealth: $1.2 bn

The Jashanmal Group business started off as a one store in Iraq in 1919. Today, it has grown into one of the most successful retail chains in the Gulf region.

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Image: Tony Jashanmal.


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10. LT Pagarani
Chairman, Choithram & Sons
Wealth: $1.1 billion

The Choithrams supermarket brand was initially launched in West Africa in 1944 by Thakurdas Choithram Pagarani.

Over the last seven decades Choithram & Sons has grown into an international company spanning Europe, North America, Africa as well as the Gulf.

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Image: LT Pagarani (Inset).


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11. Harshad Mehta
Promoter, Rosy Blue Group
Wealth: $980 million

Harshad Mehta, one of the promoters of the Rosy Blue Group, is a visionary diamond entrepreneur with more than 40 years of experience.

Known as the 'Diamond King' of the world, Mehta's profound understanding of the global diamond industry has enabled him to build a huge network in over 15 countries employing over 15,000 people globally. Mehta is also the vice chairman of Dubai Diamond Exchange and Honorary Chairman, Hammer Group.

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Image: Harshad Mehta.


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12. P Mohamed Ali
Vice Chairman, Gulfar
Wealth: $950 million


P Mohamed Ali has been instrumental in turning a small construction company, Gulfar into a regional leader, listed on the Muscat Securities Market.

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Image: P Mohamed Ali.

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13. Hitesh Bodani
Wealth: $800 million
Chairman: Bond Investment Group Holdings

As founder and chairman of the board at Bond Investment Group Holdings, he has business interests in hotel and resort developments, private equity, shopping malls, real estate, medical technology, mining and oil and gas.

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Image: Hitesh Bodani.


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14. Pankaj K. Khimji
Director, Khimji Ramdas
Wealth: $750 million

Oman-based Khimji Ramdas operates across a wide range of sectors including consumer, infrastructure and industrial sectors.

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Image: Pankaj K. Khimji (Inset)


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15. Yogesh Mehta
Managing Director, Petrochem Middle East
Wealth: $720 million

Yogesh Mehta is a first generation entrepreneur and the Managing Partner of Petrochem Middle East. Petrochem Middle East was established in 1995 in the free zone of Jebel Ali in Dubai. 

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Image: Yogesh Mehta.


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Paras Shahdadpuri
Chairman, NIKAI Group
Wealth: $720 million


Paras Shahdadpuri, a former diplomat with the Indian Foreign Service, left his career to build his own business empire.

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Image: Paras Shahdadpuri.


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17. Maghanmal Pancholia
Chairman, Arabian Trading Agency
Wealth: $700 mn

Arab Trading Corporation was founded in 1989 for national and international trading. It specialises in executing and financing turnkey projects.

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Image: Maghanmal Pancholia (Inset).


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JR Gangaramani
President, Al Fara'a Group of Companies
Wealth: $700 million

In 1980, Gangaramani founded Alfara'a General Contracting Company, which has since evolved into the Al Fara'a Integrated Construction Group, which consists of ten fully integrated construction and related businesses collectively employing 18,000 employees in the United Arab Emirates and India.

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Image: JR Gangaramani.

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19. Dhananjay Datar
MD, Al Adil Group
Wealth: $650 million

Dhananjay Datar is the man behind the success of Al Adil Trading. He transformed a small grocery store established by his father in 1984, into a major spice company. 

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Image: Dhananjay Datar.

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20. Asgar Shakoor Patel
Chairman, Patel Roadways
Wealth: $615 million

Asgar Patel played a key role in transforming Patel Roadways into one of the largest logistics companies in Asia with 1000 delivery outlets and a workforce of over 7,500 people.

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Image: Asgar Shakoor Patel.

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21. PNC Menon
Chairman, Sobha Developers
Wealth: $600 million

A first generation entrepreneur, Menon began his professional career by setting up an interior decoration firm in Oman in 1976.

He has since incorporated several companies in the Sultanate of Oman, United Arab Emirates and Qatar and also expanded into construction and real estate development. He founded Sobha Developers in Bangalore in 1995.

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Image: PNC Menon.
Photographs: Wikimedia Commons.

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22. Vasu Shroff
Founder, Regal Traders
Wealth: $550 million


Founded by Vasu Shroff in 1952, Regal Traders is best known as one of the UAE's largest fabric retail chains, offering an extensive range of fashionable fabrics.

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Image: Vasu Shroff.
Photographs: Courtesy, dubaidesi.com.

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23. Rizwan Sajan
Wealth: $520 million

Rizwan Sajan, Founder and Chairman of the Danube Group, is a leader in construction, building materials and shop fitting industries.

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Photographs: Courtesy, Arabianbusiness.com.

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24. Nilesh Ved
Chairman and Founder, Apparel Group
Wealth: $510 million

Nilesh Ved heads a leading retail conglomerate headquartered in Dubai. Nilesh belongs to a family of successful entrepreneurs and businessmen who have established their strong foothold in the Gulf region since 1904.

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Image: Nilesh Ved.
Photographs: Courtesy, ibpcdubai.com

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Deepak Babani
CEO, Eros group
Wealth: $490 million

Deepak Babani heads the Eros Group, a leading distributor of many global electronic brands. Eros Group has distribution rights of Samsung, Hitachi, TCL, Linksys, Candy, Flip, BenQ, Sonos, Thermobreak, Lennox and Aiphone.



Image: Deepak Babani.

Tags: Eros , TCL , Babani , Hitachi , Aiphone

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