#October 2017, #GLOBAL INDIAN
Dr B.R. Shetty is the Founder and Non-Executive Chairman of the Abu Dhabi based NMC Healthcare and Chairman of UAE Exchange, which most recently hit the headlines for its acquisition of forex major Travelex. The Karnataka-born and UAE-based entrepreneur opens up to ‘India Global Business’ on his journey, his inspirations and future plans.
What makes the UAE a good base for your enterprises?
In the last four decades, I have learnt so much about different cultures, made many Emirati friends and have realised that there is no place like the UAE to conduct business in.
I have got so many perspectives on life, learnt so much about world cultures that it has rounded me as a human being and a successful businessman. In the early Seventies, I came searching for a job and today, under the patronage of the royal family, I have 50,000 employees and a multi-billion-dollar empire spanning the globe.
With an open economy that has one of the world’s highest per capita income, with a sizeable annual trade surplus, the UAE has undergone an unprecedented transformation into a modern state with a high standard of living.
Some of the remarkable reasons for doing business in the UAE are: corporate tax and personal taxes are almost nil, import duties in the UAE are very low, there are Double Taxation Agreements, Free Trade Agreements and then there is a strong and competitive economy with a world-class infrastructure.
#August 2017, #Sector Focus/Hospitality
Indians spend an estimated $20 billion on their travels around the world, boosting local economies and creating jobs. A WTO study says this figure will rise to $60 billion by 2020, or about the same as the total FDI inflow into India last year.
Let us start with two simple quiz questions: Which Indian group has spent the largest sum of money in the US since the turn of the millennium? And ditto for Europe?
Okay, here’s are a few hints: it’s not the Tata Group, not the Aditya Vikram Birla Group and not even any overseas Indian-owned business like Arcelor Mittal.
#US Election, #2016, #October 2016
In a world where Americans seem split on the advantages of globalisation and liberal trade, we look beyond the wish-list politics of the past to see what a new American regime could mean for India.
What would India want from the next president of the United States? In years and elections gone by, that question would have been answered with a wish list of bilateral agreements and country-specific demands. In 2016, in these troubled and confused times for the global polity and economy, the answer is wider: the new president should renew…
#July/August 2016, #Trade Wars, #2016
Global trade slowdown is far worse than projected and the trend is leading to greater protectionism, writes FICCI president.
If you are concerned with slowdown in world trade, think again. It is indeed far worse than what we commonly believe. As the July-report of ‘Global Trade Alert’ pointed out, world trade is not just slowing down – the fact is it has not grown at all since January 2015. Such a prolonged phase of ‘no growth’ in global trade is worrisome and expectedly, it is accompanied by a spurt in protectionism.