The image of well-off NRI in Gulf Countries is poised to get a puffy boost with the facts revealing that they are growing up financially at the rate of 20 per cent per annum, says Suresh Kumar, Chief Executive Officer of Emirates Financial Services, a Dubai based investment bank and fund manager.

Indian economy, undergoing a reform process for the past few years is gaining the international competition scenario. Such a high growth has attracted attention of many potential NRIs and encourages them to invest not only in secondary stocks, shares, real estate market, but also to make direct investments in the fast flourishing sectors like shipping, manufacturing, logistics, travel and tourism, added Kumar who is also the President of the Indian Business and Professional Council (IBPC).

IBPC, Dubai enjoys a status of being the sole recognized representative of Indian Business and Professionals in Dubai. This prestigious organization aims at strengthening business relationship between the UAE nationals and Indian businessmen thereby promoting economic co-operation between India and UAE.

According to Kumar, there are some gaps in the dispossible earnings of the NRI community and about 35,000, who fall under the category of millionaires are pumping in liquid assets but a pool of wealth is also being invested in real assets.

Financial sectors players including leading banks, mutual funds, security firms, and others that are believed to fulfill the demanding needs of the wealthy NRI population in Gulf countries participated in the seventh Khaleej Times NRI Money Show opened at the Sheraton Hotel & Towers, Dubai Creek on 14 Dec 2006.

The three day event focused on banking products, money transfer facilities, stock exchanges, insurance, and housing finance. The event has been organized by Mediacope Publicitas, a known expert in organizing international exhibitions and seminars across different business categories. The show did great and witnessed the presence of over 2,000 visitors from the NRI community this year.

Participants at show include Citibank, JM Financial, Gogia International Securities Ltd, Arab Global Commodities DMCC, Kotak Mahindra International Ltd, HDFC Bank, HSBC, Man Financial Middle East, Knight Wazir Trading Systems, Alankit Assignment Ltd, NSDL, Cameo Wealth Management, Al Rostamani Financial Services, IndusInd Bank and Barjeel Geojit Securities.