Indian businesses resolute in face of Iran conflict
- IBPC Dubai says membership intact
- Business group has grown 15% this year
- Indians are largest expat group in Dubai
The Indian business community in Dubai is holding steady despite the Iran conflict, even as tens of thousands of nationals have left the region.
About 52,000 citizens exited the six countries of the GCC in the first 10 days of the war, according to India’s ministry of external affairs.
But the secretary-general of Indian Business Council Dubai (IBPC Dubai) said the organisation’s 750-strong membership, largely representing Fortune 500 companies, has remained intact.
“Renewals have slowed down, but we have not seen any drop in membership numbers,” Dr Sahita Chaturvedi told AGBI. “There has not been a single word among our members that they are closing down and leaving.”
Chaturvedi said membership has grown by 15 percent since the start of the year, with three life members joining since hostilities escalated at the end of February.
“That shows us the confidence there is within the diaspora,” he said.
Indians remain the largest expatriate group in Dubai. As of December 2024, 4.36 million Indian nationals were living in the emirate, according to the country’s consul general.
Property consultancy Anarock Group estimates Indian nationals account for more than one fifth of foreign purchases of property, the biggest share among overseas buyers.
“We have made this country like our motherland,” Chaturvedi said. “The Indian diaspora is confident that it will bounce back much higher.”
Further reading:
- Jazeera Airways restarts flights to six Indian cities
- Iran war risks hitting Gulf labour
- Iran war may delay Oman-India Cepa rollout
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