Indian corporates see window of business opportunity amid economic crisis in Dubai
Indian corporates see window of business opportunity amid economic crisis in Dubai
Where others see dust, Indian corporates see dirhams.
The Dubai debacle might prove to be a sliver of opportunity for Indians, believes Mahindra & Mahindra vice-chairperson and managing director, Anand Mahindra.
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"The Dubai debacle is huge opportunity for Indian biz. It will recover & always b a recreational magnet fr Indians.
Added Prakash A Mody, chairperson and MD, Unichem Laboratories Ltd, "Dubai will recover with the world money behind it.
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This is a good investment opportunity if pockets are deep."
Nithij Arenja, MD of Qi Lifecare in Mumbai, said, "This is the time to invest.
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Dubai is not just a market on its own, but also a gateway to the Middle East. This is a huge opportunity."
However, there are some who disagree. Vijay Kalantri, chairperson, All India Association of Industries, said, "Now is not the time to invest in Dubai.
Many people are leaving Dubai, so I am not optimistic."
Added Nikai group chairperson and president of the Indian Business and Professional Council in Dubai, Paras Shahdadpuri, "Dubai remains an attractive option for investors though interest may shift to Abu Dhabi.
Dubai's construction boom between 2005 and 2007 has reduced in the last year, whereas projects in Abu Dhabi have picked up."
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