Dalal Street Investments

Dubai + UAE links to India

November 27, 2009

Indian are ~40% of UAE’s population; forming ~10-12% of India’s inward remittances. 31% of the 5.3m Indians in the Gulf are in UAE.

UAE forms ~8% of India’s non-oil exports and 3.0-3.5% of India’s nonoil imports. DP World operates five container terminals in India, accounting for 40% of India’s container traffic.

L&T has two joint ventures in the UAE, others with business interests include Gammon India. EMMAR world’s leading realty player originationg from Dubai has a JV with MGF in India.

Nagarjuna has invested Rs700m in a Dubai real estate project. Punj has 15% of its order backlog of Rs268bn from the Middle East [Dubai is negligible though]

Bank of Baroda has 10 branches in the Gulf (largest), but mostly small banking exposure, mainly for remittances. Bank lending to UAE funded projects in India unknown.


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