< PreviousW ith an exceptionally strong business acumen, Sivag- nanam holds a rich global experience with startups and growing established and non-performing businesses. He has over 30 years of exper- tise in strategy, operations, sales, and marketing in the automotive industry. In 2020, he became the CEO of Petro- min Corporation. Prior to that, he held several positions at Nissan Motor Corporation, includ- ing managing director for Nissan Motor Great Britain; regional vice president of sales and marketing for KALYANA SIVAGNANAM CEO PETROMIN CORPORATION TRANSPORT 40+ The number of countries in the GCC, Middle East, Africa and Asia in which Petromin exports its products Africa, Middle East, and India; and president for Nissan Motor Middle East. Preceding these roles at Nissan, Sivagnanam also held various senior level roles at Ford Motor Corpo- ration, including vice presi- dent of marketing, sales and service for Africa and the Middle East, in addition to regional director for Europe. With more than 5,000 employees, Petromin exports its products to over 40 coun- tries in the GCC, Middle East, Africa and Asia. Operating in KSA for nearly 50 years, Petro- min traces its roots back to 1968, when the company built its reputation for producing the highest quality lubricants in the region. F eroz Allana is from the city of Mumbai and has been a businessman based in the UAE since 1975. He is one of the founders and a member of the supervisory board of IFFCO Group, a UAE-based business house which manufactures and markets a well-integrated range of mass market consumer products. Allana is one of the best- known entrepreneurs of FMCG products in the Middle East. Under his able guidance, today IFFCO oper- ates businesses with 80 manufacturing operations in 37 countries and with a global FEROZ ALLANA Co-founder IFFCO GROUP RETAIL turnover in excess of $8bn and a workforce of over 12,500 employees. IFFCO, a diversified group, has its roots in manu- facturing and marketing mass-market consumer products with segments of food and beverage, oils and fats, meat and poultry, personal care, confection- ery, ice creams, packaging and industrial products and logistics. IFFCO‘s products are enjoyed by consumers in 101 countries. Few of the well-known brands of IFFCO Group are Tiffany in confectionary, biscuits, snacks and culi- nary; NOOR edible oil, Hayat and Fern in oils and fats; Allegro and Rahma in olive oil; London Dairy and IGLOO ice creams; Al Baker flour; Al Khazna chicken; Khaleej fresh eggs; Shama spices; and Savannah in personal care. Allana’s lead- ership has made IFFCO Group amongst the most well-known FMCG groups in the MENA region. 40 Vol. 22/04, April 2022 INDIAN POWER LIST 2022M ohan Valrani, founding senior vice chairman of Oasis Investment Company (the holding company of Al Shirawi Group of Compa- nies), one of the largest private conglomerates in the UAE and Gulf region, and chairman at Arcadia Educa- tion, arrived in Dubai in 1966 with a zeal to contribute to the development of the city. With his friend and business partner, Abdulla Al Shirawi, they launched Al Shirawi Group in 1971, an invest- ment vehicle with over 30 companies across different verticals headquartered in MOHAN VALRANI Co-founder and mentor AL SHIRAWI GROUP INDUSTRY Dubai. Some of the indus- tries the group operates include printing and packag- ing, logistics, oil and gas, construction services, and steel manufacturing. He was appointed as chairman of The Indian High School, the largest non- profit school in the UAE in 2009 where his guidance led the school to receive its very first ‘Outstanding’ rating from the Dubai Schools Inspection Bureau. In 2016, he founded the Arcadia School in Dubai, a British curriculum school with a progressive approach to education. With credentials of 49 years, executing over 3,000 large projects in UAE, Al Shirawi Interiors is one of the most reliable fit-out contrac- tors in the UAE. Al Shirawi Interiors was awarded the fit-out and MEP works pack- age of the Swedish Pavilion at Expo 2020 Dubai and fit- out works for the Expo Cartier Auditoire Women’s Pavilion. E stablished in 1982 by a pioneering and inspir- ing businessman LK Pagarani, Al Maya is one of the leading and trusted supermar- ket chains in the UAE, with multi-format stores serving a sizeable number of customers for more than 38 years and enjoying a significant share of the UAE retail market. Vachani has led this Dubai-based conglomerate to become a force to reckon within the industry with more than 5,000 employees from 30 different countries for its multiple business verticals. These include the FMCG distribution of food and non- KAMAL VACHANI Partner and group director AL MAYA GROUP RETAIL 5,000+ The number of employees of Al Maya Group from 30 countries food products, processing plants in India and other countries around the world, over 90 retail stores in the UAE and GCC, including supermarkets, Borders and Paperchase. With more than 100 brands, 50 plus supermar- kets, 90 plus retail outlets, the Al Maya Group has strength- ened its regional presence across Oman, Bahrain, Kuwait and Qatar over the past two decades. A recipient of the prestig- ious Vishwa Sindhi Divas Inspiring Leaders Award 2021 in Dubai, Vachani was honoured for his relentless work for community service. Vachani is also chairman of the Global Organisation of People of Indian Origin (GOPIO) – Dubai and North- ern Emirates. arabianbusiness.com 41 2022 INDIAN POWER LISTLEKHU THAKURDAS PAGARANI Chairman CHOITHRAMS W hile Choithrams, one of Dubai’s lead- ing supermarket chains, was founded by Thakurdas Choithram Pagarani in West Africa in 1944, his son LT Pagarani is the force behind its impressive transformation over the years, especially in the GCC, where it boasts around 70 stores; 45 of which are in the UAE. Under his guidance, Choithrams’ grounded approach to business, focus on sustainability and giving back to the community has impacted healthcare, education and food supply chain. Their collaborative approach has been the biggest learning and Pagarani managed to stay united and provided jobs to those who had lost theirs due to the immediate impact of the pandemic, for example, restaurant delivery personnel. Earth-friendly offerings Pagarani believes the biggest economic game changer over the next five years will be aligned with the old adage of ‘global reach, local touch’ and is being re-expressed with the wide-scale embracing of digital tools. Demand for earth-friendly food is another area that will emerge steadily. According to Pagarani, this will not be limited to food alone, but also, how food is grown, where it is grown, what is its carbon footprint, how food is packaged to offset and reduce waste. In terms of sustainable investment, Choithrams recently invested in a 2.7MW solar project in Dubai that turns warehouse rooftops into a source of energy, expected to cover 80 percent of its needs. He says Choithrams is about the world of food and adds: “Employing more than 9,000, and serving a market of over 100 million, we see nurturing of sustainable goals as the essence growing trade opportunities between India and the UAE.” On the philanthropic front, Choithram International Foundation, the philanthropic arm of Choithrams, works with several local, regional and global entities to foster the Sustainable Development Goals of the United Nations (UN). Through its donorship of international projects in education, healthcare, food security and sustainable practices, the foundation impacts the lives of more than 50 million people in Africa, Asia and Middle East. RETAIL 9,000+ The number of staff employed by Choithrams across the region q Employing more than 9,000, and serving a market of over 100 million, we see nurturing of sustainable goals as the essence growing trade opportunities between India and the UAE” 42 Vol. 22/04, April 2022 INDIAN POWER LIST 2022H ailing from a family of entrepreneurs, Bhawnani arrived in the UAE in the late 1980s and quickly became immersed in the country’s fast growing retail and hospitality sectors. West Zone Group was estab- lished in 2005 and has grown from a single store into a retail conglomerate with over 125 retail outlets, of which 100 are supermarkets. Always looking for expansion opportunities, he diversified into the hotel sector with the launch of the West Zone Plaza Hotel Apartments in Bur Dubai as well as into logistics, shop- NARESH BHAWNANI Founder and chairman WESTZONE GROUP RETAIL ping malls, real estate, construction, technology, hospitality, and F&B. Super- markets and hypermarkets remain at the forefront of the group’s activities and its 300,000 sq m state-of-the-art distribution centre processes over 5,000 global brands to its outlets. Bhawnani oversees more than 5,000 employees and the company’s expansion skyrocketed with the $10m deal to acquire supermarket chain Safestway, three Giant branches and G-Mart from the Giant Group. Actively involved in giving back to society through the CSR arm of West Zone Group, Bhaw- nani has established initia- tives as a reflection of their mission and business core values. By creating various job platforms, and with strong customer support, West Zone Group plans to nurture the relationship of customer and counter staffs to levels above and beyond today’s standards. S hahdadpuri served as an Indian foreign services diplomat in China, the US, Saudi Arabia and Libya before quitting his diplomatic career and start- ing a business in the UK in 1987. After falling in love with Dubai during a chance visit on his way to London, he relocated to the emirate to set up his business. Now a resident of 34 years, his Nikai Group has interests in elec- tronics, appliances, food products, staffing outsourc- ing and restaurants, with offices in countries including UAE, Oman, China, Saudi PARAS SHAH- DADPURI Chairman NIKAI GROUP RETAIL Arabia, Egypt, Georgia and Russia. Nikai Group has a workforce of around 5,000 and turnover of over AED 1bn. Named a Superbrand in 2011, 2016, 2017, 2018, 2020 and 2021, Shahdadpuri has taken the Nikai brand to new heights as a formidable elec- tronics name with more than 400 products that compete with major Japanese and Korean brands. With a view to giving back to the community, Shahdadpuri has taken keen interest in developing India- UAE business relations. The Indian Business and Profes- sional Council (IBPC) elected him president from 2009 to 2011 and 2013 to 2015. Under his guidance, the IBPC has helped the UAE become one of India’s biggest trading partners. 400 The number of products Nikai Group markets in 60 countries arabianbusiness.com 43 2022 INDIAN POWER LISTNAWAB SHAJI UL MULK Founder and chairman MULK HOLDINGS N awab Shaji Ul Mulk hails from the aris- tocratic family of Nawabs of Kurnool and is the founder and chairman of Mulk Holdings. A global business powerhouse with diversified interests in the manufacture of building facades, facade contracting, health- care, plastics and sports assets, the company employs a workforce of more than 7,000 glob- ally and has operations and manufacturing bases in the US, Europe, India, the UAE, Oman and Ghana. He chairs the Mulk Foundation, the active CSR wing of the group, and is responsible for various philanthropic initiatives in UAE and India, offering free medical clinics, free libraries, support for disabled children and an orphan marriages programme. Accolades and recognitions The flagship product of the group is the manufacture and distribution of the A2 fire-rated aluminium composite panel under the brand name of Alubond A2. The brand has grown into the world’s largest aluminium composite panel manufacturer with an installed capacity of 25 million sq m and installations in more than 100 countries. Mulk Holdings is ranked eighth among the Most Admired Companies in GCC index and in the top 10 best employers of GCC. The company under Ul Mulk has won numerous national awards such as Sheikh Mohammed’s MRM Excellence Award in 2009 for the Largest Foreign Manufacturer in UAE, a Sharjah Excellence Award in 2011 for the Largest Manufacturer in Large Scale Industry, and an Ajman Chamber of Commerce Award as Ajman’s Largest Manufacturer in 2010 and Power Brand in GCC. An avid cricket enthusiast, he is the only Indian member of the Emirates Cricket Board, headed by Sheikh Nahyan bin Mubarak Al Nahyan. The latest passion of Shaji Ul Mulk is the T10 cricket league, which has created history and become a global phenomenon. Family comes first to Mulk and he is vocal about the harmony and peace it brings him. His wife Farha Mulk and son Adnan, and daughter Nida and son-in-law Bilal Khan with grandchildren Hazza and Hassan and youngest daughter Sania Mulk, are his biggest treasures. INDUSTRY $100m The value of contracts ALUBOND USA has secured in fi ve mega projects in the US q We at Mulk Holdings have launched a major global expansion drive that will see our company expand into new territories and grow business substantially to meet the growing demand worldwide” 44 Vol. 22/04, April 2022 INDIAN POWER LIST 2022PNC MENON Founder and chairman SOBHA LIMITED $10bn The value of the Mohammed Bin Rashid District One project CONSTRUCTION AND REAL ESTATE O riginally hailing from the Indian state of Kerala, PNC Menon has built up a formi- dable reputation since starting his career working as an interior designer. At the age of 26, he left Kerala for Oman, where over the years he developed his interior decoration business into a profitable venture. With time, he began securing a number of noteworthy interiors contracts, including the sultanate’s famed Qaboos Grand Mosque, which led to its next phase of growth. As the business strengthened its presence in the Gulf, Menon next moved into India’s property sector by launching Sobha Limited in 1995, which has become one of the largest real estate development companies in India. On the CSR front, Sobha Group’s green initiatives in India are widespread in all its projects. This involves large-scale rain water harvesting, preserving 3,000 varieties of flora and fauna and adopting efficient waste management. In 2003, Menon moved to Dubai and founded Sobha Group which focuses on residential and commercial projects. Currently at work on one of the emir- ate’s most significant projects, namely the $10bn Mohammed Bin Rashid District One, which he’s described as the “most exciting” project in his life. Real estate rising Dubai-based Sobha Realty has recorded sales of over $1bn for 2021 amid the UAE’s strong economic recovery and strong demand from its investors. The developer has consistently expanded its offering at its flagship iconic Sobha Hartland development in Dubai’s Mohammed Bin Rashid Al Maktoum City. Sobha Hartland, launched in 2014, is known for key projects within the community, including Greens, Creek Vistas, Creek Vistas Reservé, Gardenia Villas, Garden Houses, One Park Avenue and Forest Villas. It is now on track for handover in 2025. Speaking about the positive sentiment in Dubai’s real estate sector, Menon says: “The real estate market in Dubai continues to scale new heights. Despite the pandemic, transactional activity has been high in the emirate. “We are optimistic about the sector outlook in 2022.” q You cannot say that there is no further scope for you to grow. Diversify, get into something else. Move into another geography… The growth is never- ending” arabianbusiness.com 45 2022 INDIAN POWER LISTA US national who spent his early years in India, Rana, CEO of Citymax Hotels and Food- mark (part of Landmark Group) stepped in after Aly Shariff as the new Citymax Hotels CEO in June 2020. With over 30 years of interna- tional hospitality experience, Rana has held leadership positions in the USA, Europe, and Asia. Most recently, he was the CEO of Radisson Hotel Group for South Asia with the responsibility for the region’s profit growth. According to Rana, while high-end hotel brands domi- RAJ RANA CEO CITYMAX HOTELS AND FOODMARK HOSPITALITY T he Dodsal Group is a Dubai based multina- tional conglomerate, operating in the areas of exploration and production of oil and gas, engineering procurement construction (EPC) and Trading. Founded in India in 1948 by the Nand- lal Kilachand family as a trading company in partner- ship with a British trading company (DODWEL) and Karsa Salem (DODSAL), the Group has transformed from a family trading enterprise into a multi-billion-dollar organisation based in Dubai, under the leadership of Dr RAJEN KILACHAND Chairman and president DODSAL GROUP INDUSTRY Rajen A Kilachand, chairman and president of Dodsal Group. Over the past three decades, the group has served customers in 22 countries in the Middle East, Africa, Asia and Europe. His remarkable career trajectory raised Dodsal from a $200m multi-retail interest company to a world-class multi-billion Dollar organi- sation that’s built on state- of-the-art technology, integ- rity, expertise, and an unwavering commitment to excellence. For this accom- plishment, he has been the recipient of several awards and recognitions at the global level. Kilachand is also on the board of directors of Pathfinder International. nate the market, there will be a shift towards the mid- market segment with desti- nations to promote to a wider base of travellers. Within this segment, City- max Hotels offer great service, value and excep- tional experiences – all at an affordable price. There are five Citymax Hotels across the UAE and one in Egypt, with new hotels coming up in the pipeline. With central locations, travellers can explore tourist attractions and local favourites. Moreo- ver, Citymax has assorted dining options and spacious rooms to ensure a good night’s rest before your day of exploring or business. Citymax is the recipient of several accolades, includ- ing World’s Leading Budget Hotel Brand 2014-2019 – World Travel Awards, Travel- ler’s Choice Hotel 2016-2018 (Citymax Hotel Al Barsha at the Mall) – Trip Advisor, and Three Star Hotel Team of the Year 2017 – Hotelier Express Awards. $200m Rajen Kilachan’s personal commitment to key philanthropic initiatives, which include funding healthcare and education 46 Vol. 22/04, April 2022 INDIAN POWER LIST 2022F ounder and chairman of RP Group of Compa- nies Dr. Ravi Pillai, was born to a family of farmers in Kerala. But today RP Group, established in the 1970s, has 20 companies and four affil- iated organisations with a reported $3.5bn net worth. Moreover, his private firm RP Group completed over $25bn worth of projects, covering more than 92,903 sq m of real estate projects alone, despite the Saudi- based conglomerate cover- ing eight sectors including construction, infrastructure, retail, hospitality and health- F ounded by R Sivaswamy in 1977 in Mumbai, India, Transworld Group began as a shipping agency which steadily expanded to become the dynamic shipping and logis- tics conglomerate it is today. Ramakrishnan, chair- man of Transworld Group took over the helm in 1989 following the demise of his father and in 1983, he purchased its first ship; the Khaleej Express. The group RAVI PILLAI Founder and chairman RP GROUP OF COMPANIES RAMESH RAMAK- RISHNAN Chairman TRANSWORLD GROUP CONSTRUCTION AND REAL ESTATE LOGISTICS care. And the projects do not end there. The group’s successful subsidiary Taj RP International has completed the Crowne Plaza Dubai Marina, with RP Global also developing two projects in Business Bay and on Sheikh Zayed Road, worth $1.5bn. But the sky is the limit for Pillai, who told Arabian Busi- ness he has plans to expand the company across the GCC and abroad. In Saudi Arabia, he made headline news when he revealed he would hire 3,000 Indian workers who lost their jobs in the kingdom’s construction downturn when the government suspended payments due to budget curbs. The billionaire also made headlines after spend- ing $8.5m on his daughter’s wedding in 2015. went on to launch Shreyas Shipping in 1993, which was converted into a public limited company and expanded its international operations to the US in 2002. With over 35 years of experience, the company expertise covers a complete range of solutions from ship owning to project logistics to warehousing and is a reliable partner for corporations seeking world-class logistics and associated services. Transworld Group has grown to become a $700m enterprise with extensive international operations across Asia, USA and the Middle East, and a 3,500- strong workforce. In 2020, DP World’s subsidiary Unifeeder Group acquired three business units of Transworld Group – Transworld Feeders FZCO, Avana Logistek and Transworld Feeders Pvt, the Indian coastal and EXIM feeder shipping operations of Shreyas Shipping and Logistics. $25bn The value of projects RP Group handled over the years arabianbusiness.com 47 2022 INDIAN POWER LIST48 Vol. 23/04, April 2022 INDIAN POWER LIST 2022 40% The proportion of women in Landmark Group’s senior level employees RENUKA JAGTIANI Chairwoman and CEO LANDMARK GROUP q We started with a single store in Bahrain in 1973 and we now have over 2,200 outlets across the region with a strong online offering across all our brands” RETAIL F or over 25 years, Renuka Jagtiani, chair- woman and CEO of Landmark Group, has guided the group’s corporate strategy and grown the fashion and hospitality businesses for the region’s leading retail and hospitality conglomerate in the Middle East, Africa and the Indian subcontinent. A cornerstone of the company’s journey, Jagtiani was instrumental in creating the high-street fashion brand Splash in 1993. In her current role, she oversees all retail and hospitality operations, leading stra- tegic growth through expansion into new markets and driving the group’s CSR initiatives. Landmark Group’s foray into e-commerce Under her leadership, the group forayed into e-commerce and invested in the MENA region’s largest privately-owned logistics and distribu- tion hub, with a vision to reach the customers, no matter where they shop. Landmark chairman Micky Jagtiani, Renuka’s husband, founded the group in 1973 with a single store in Bahrain and has successfully grown it into one of the largest retail and hospitality conglomerates in the region. The couple were inducted into the Retail Hall of Fame at the 2017 World Retail Congress held at Madinat Jumeirah Hotel in Dubai. Last year, the Landmark Group and Jagtiani Foundation committed AED15m ($4.08m) towards accredited NGOs, food banks and healthcare workers on the front- lines to provide aid to help local communities in need where the group oper- ates in the GCC and India. Coronavirus relief efforts by Landmark Group in India The group’s brands, alongside the Jagtiani Foundation and The LIFE Founda- tion, have pledged to support and empower affected communities including migrant and garment workers, frontline personnel, low-income families and other vulnerable individuals. The foundation is also working with a network of reputed local non-profit organisations, such as Apnalaya, Jan Sahas, Oscar Foundation, SAVE, and READ, to provide access to food for underserved popu- lations including low-income families, daily wage earners, and migrant workers. Since its inception, READ has been working on the protection and rehabilitation of workers from textile industries in Tiruppur, Erode and Coimbatore. The LIFE Foundation has dedicated its Covid-19 efforts to providing food rations and hot meals for labourers, villagers, street dwellers, elderly citizens, and children, as well as PPE kits, sanitisers, masks for frontline workers in police stations, and public hospitals.arabianbusiness.com 49 2022 INDIAN POWER LIST I nvestcorp is a leading global manager of alternative investments with six lines of businesses, including: real estate, strategic capital, private equity, absolute return invest- ments, infrastructure, and credit management. Investcorp’s Co-CEO Rishi Kapoor oversees the firm’s private equity businesses in North Amer- ica and India, in addition to the credit manage- ment, absolute returns, real estate, and strategic capital businesses globally. He joined Invest- corp from Citigroup in 1992 and prior to his appointment as Co-CEO, Kapoor had held several leadership positions between 2003 and 2015 within Investcorp including chief financial officer. With a Bachelor’s Degree in Electrical and Computer Engineering from the Indian Institute of Technology (IIT), Kapoor has an MBA from Duke Univer- sity’s Fuqua School of Business and is a member of Duke University’s Middle East regional advisory board. He is also a member of the board of directors for Gulf Air Group, Bahrain Airport Company, Gulf Aviation Academy, and National Bank of Bahrain. He was lauded as one of the top 10 Indian executives making an impact in the Middle East by Forbes Middle East in 2019. Robust growth and resilience Sustainability, diversity and inclusion remain at the heart of everything Investcorp does and they continue to outperform to the benefit of their stakeholders. According to Investcorp’s annual report 2021, the firm contin- ued to show resilience against the impact of Covid-19 and delivered 17 percent growth in assets under management to a record high of $40.4bn supported by strong performance across all business lines. Investcorp is also growing their impact in Asia with a total of 11 new private equity investments made during the period across India, China and southeast Asia. Last month,Investcorp announced its first two Italian real estate acqui- sitions as the investment company further boosts its European assets. The deals for Kering’s Italian headquarters in Milan for €74m ($81.8m) and an office occupied by the UN agency the International Fund for Agricultural Development (IFAD) in Rome for $141.4m took Investcorp’s European busi- ness to over $1.22bn. $40.4bn The value of Investcorp’s investment portfolio RISHI KAPOOR Co-CEO INVESTCORP BANKING AND FINANCE q The pride of place we occupy in the GCC… I think is second to none” Next >