Mr. Mayne Addresses 20th Anniversary of IBPC
Your Excellencies, Suresh Kumar, chairman of the IBPC, dignitaries, ladies, and gentlemen good evening.
To give you a brief introduction of myself: I came into the UAE in 1976 as a 22-year-old in search of greener pastures. At that time, my goals were simple, work for a few years, save some money, and go back to my hometown of Bangalore. Today. more than 45 years later. I\'m still here and I believe this may sound familiar to many of you in the audience today.
Some people seated here will remember how we needed to carry our passports to go from Dubai to Abu Dhabi due to border controls. Actually. When one reached the Maqta border after sunset you could possibly end up spending the night at the border and others will possibly remember how it took more than a day to get from Sharjah to Dubai through the desert, that was then.
Earlier this year Etihad Rail has announced the launch of the new luxury train that will travel through the seven Emirates of the UAE across the Liwa desert and towards the border with Oman all within a matter of hours. In 2020, Virgin Hyperloop was unveiled in the UAE. Once the Hyperloop is launched a typical journey from Dubai to Abu Dhabi will take under 12 minutes. The UAE is a different world today, what we do here is seen, read, and discussed and even debated worldwide. What we do here makes an impression in Shanghai, makes an impact in New York, and is of great importance to people and to places around the globe.
To live and to do business in Dubai is to play a part in Indian commerce. I think His Excellency had already mentioned it but Dubai commerce reports that 11,000 Indian companies were added to its records in 2022, bringing the total number of Indian companies here registered to 83,000.
However, the foundations of these now substantial and sprawling business empires were laid four and five decades ago, often in small-scale trading activities, or in essential sectors such as electricity and food production, in souks and scraggly markets, on the doorsteps of sandy homes and in sunny majlis courtyards. The nature of business in those early years was purely need-based.
An Indian family established a currency exchange in Deira because at that time there were no notes, only coins. Another Indian family owned a rare idea that time, a radio but it had to be powered by battery because there was no electricity.
Over the last 45 odd years, I\'ve personally experienced much of this growth and development of the UAE. In fact, I\'m very proud to say that the UAE today is home for two generations of my own family.
In the 1980s business networking was both productive and enjoyable within a very closely knit Indian community. In those days, the best ways to make contact with the business community was to meet at social gatherings. The Indian Sports Club was one very prominent and popular social hub and many families and children have formed life-long friendships from the many events that they have attended at the Indian Sports Club.
Then we had the IBPC or the Indian Business and Professional Club which was established in 2003 by a group of visionary professionals and business leaders. I believe at that time the idea was to create a platform that could facilitate knowledge sharing and mentorship for the Indian business community. Of course, the primary objective was to foster entrepreneurship, networking, and collaboration among corporate and business leaders. Glad to say that since then the IBPC has played a prominent role in recognizing business excellence, engaging with government bodies and policymakers, serving as a platform for business partnerships, providing networking opportunities for Indian professionals and, more recently, promoting Indian startups here.
Through its extensive network and impactful initiatives, IBPC continues to empower entrepreneurs and professionals contributing to India\'s development and one such example I believe it was mentioned several times earlier is the UAE-India CEPA agreement that has proven so successful in just 12 months, that it may well serve as a blueprint for several other countries.
Several Indian business houses are also signing up to the UAE\'s window of the world where shipments from India get digitally processed in the UAE and seamlessly shipped to overseas destinations. Indian enterprises can access global markets more efficiently by leveraging the UAE’s infrastructure and its strategic location.
I believe I read in the news recently that the stage is also set for a Dirham-Rupee payment mechanism where deals can be closed without the US dollar. Through all this, there is one mantra that holds good: business is less about products and profits, and more about the people among and around us.
A 20th anniversary is a great time not just for introspection but also for impactful action. In our steps towards this, we must make better efforts to listen to each other and to learn from each other, to be selfless with our contributions and stimulating with our actions. We must embody the long-standing ties established by India and the UAE, which is defined by balance, tolerance, cooperation and the languages of peaceful dialogue and mutual benefit.
Each one of us has a role a responsibility and accountability towards better governance and greater good of all mankind. The aegis of the IBPC is where we can draw comfort, confidence, and camaraderie for all that lies ahead of us. The many interests we share as human beings, as sons and daughters of India, and as friends and residents of the UAE, are far more powerful than the ones we share in business.
Thank you and happy congratulations to all on this 20th IBPC Anniversary.