Monday, November 30, 2009

>Indian companies exposure in Dubai(CLSA)

India’s links to Dubai, and the UAE
􀂉 11% of Gulf capital flows between 2002-06 headed to Asia
􀂉 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
􀂉 DP World operates five container terminals in India, accounting for
40% of India’s container traffic.
􀂉 Real Estate: Emaar-MGF and DLF-Limitless are the key alliances for
investments into India. Sobha Developers had plans to build two residential
towers and two hotels in the UAE.
􀂉 Construction: L&T has two joint ventures in the UAE, others with business
interests include Gammon India.
􀂉 Banking: 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.
􀂉 IT Services: No material exposure. A few deals for Wipro and one for

To read full report :- Indian companies exposure