Why Dubai is Scooping Up India's Top Tech Talent
Introduction
Dubai is located in the heart of the Middle East, which makes it an attractive location for anyone from Asia, West and even African regions, coupled with its friendly policies. They are actively influencing tech talents, specifically from India to set up the base of their work culture in Dubai’s homeland. The migration of Indian top tech talents and Dubai’s active promotion of startup friendly policies align with each other strategically.
Indian tech talents and many companies for web development see mutual benefits in working out of Dubai. While Indians get several tax and other benefits and growing potential for income generation, Dubai also quenches this opportunity to grow their GDP and become a top tech hub in the coming years.
In this blog I am gonna share some important aspects behind Dubai’s attraction of India's top tech talents.
Influence of Comprehensive Economic Partnership Agreement (CEPA)
A comprehensive agreement covering a wide range of matters such as government procurement, services, investment, intellectual property rights, litigation etc, is what sets CEPA apart from existing agreements, aiming to foster a standard trade agreement with a holistic approach. Moreover, compared to an FTA, CEPA examines different aspects of trade from a regulatory viewpoint in greater detail.
The UAE and India’s Comprehensive Economic Partnership Agreement (CEPA) serves as a fuel for Dubai's recruitment of Indian tech expertise. By 2030, this historic agreement hopes to raise non-oil trade to an incredible $100 billion. Dubai sees the potential of doubling their GDP through inviting best companies for web development and recruiting top tech talents from India.
Dubai’s Role as the Distribution Hub
The strategic geographic location of the UAE as a middle point between East and West, coupled with excellent technological infrastructure and pro-business policies have significantly helped the UAE to establish itself as the most preferred route in global trade matters.
Specifically, Dubai is revolutionising the distribution landscape as a hub. A spectacular trade growth rate above 30% is being made possible by the provisions of CEPA. The collaboration is mutually beneficial and is transforming the economies of both countries.
The People Power, creating One Million Jobs
The UAE is emerging as a global hub for startups. The Global Startup Ecosystem Index 2023 shows that the UAE’s rank is 2nd in the Middle Eastern region. Considering the prospects of this startup ecosystem, their future-ready initiative namely, the Future 100, will support SMEs or Small and Medium Enterprises to establish more jobs in the land.
With around a million jobs, Indian businesses and firms owned by non-resident Indians, make up the majority of Dubai’s labour force. This eventually contributes to the UAE’s economic ventures. The UAE's recent admission to the BRICS (Brazil, Russia, India, China, South Africa) economic bloc gives the already-strong commercial relations between these two giants even more significance.
Indian Tech Entrepreneurs in Dubai
Aayushman Dalmia, founder of Zoftware, a top software development company in India, operates his software business from Dubai. Founders of several other Indian companies for web development already have found Dubai as their home for sustainable living along with operating businesses with ease.
The Dubai Chamber of Commerce records nearly 83,000 enterprises with Indian origins, indicating that Indian business owners are using Dubai as their starting point for regional expansion. One such example is Lenskart, which deliberately entered the Dubai market a few years ago with the goal of expanding its reach.
Why Dubai is Attractive for Tech Startups
This is a growing concern among Indian tech talents as to where they should be working from, the UAE or their homeland! Dubai’s atmosphere is so conducive to business that tech people are migrating there for better work and business opportunities.
In addition to having over 30 free trade zones, a favourable tax environment, efficient corporate procedures, world class technology infrastructure, first-rate logistics infrastructure, and a prime location close to India, Dubai permits 100% foreign ownership in the majority of economic sectors.
Also being a hub of global startups, Dubai presents massive business opportunities for India’s top software company. There is no corporate and personal income tax and only 5% VAT, much less than other countries. They have already a streamlined process for setting up business, which facilitates the startup building process by Indian investors and tech giants.
The UAE's Initiatives – Golden Visa
Dubai has many visas to offer for different purposes. Their Golden visa being the centre of attraction, provides residency for 5 to 10 years to those having successful business or investing in Dubai property. Freelance visa, Green visa, Business visa, Long term visa or even Visa on arrival are all contributing to making dubai a go-to choice for tech entrepreneurs.
The UAE government's latest measures, such as the granting of Golden Visa and freelance visa for prospects like India's top software company founder, are making tech talent particularly at the top and senior levels even more appealing. Tech talent and startup entrepreneurs from India are being drawn to the affordable and business-friendly solutions offered for launching firms.
Why Preferring Indian Talent Pool
India often ranks among the top nations for IT graduates, indicating the country's abundance of highly competent computer experts. The UAE’s expanding tech sector finds it to be a desirable source due to the talent's accessibility.
The technical talents and excellent educational background of Indian tech workers are highly regarded in the world. For tech businesses, universities such as IITs and NITs are invaluable because they offer a strong foundation.
Dubai’s aim for creativeness and economic diversification are in line with the entrepreneurial spirit of many Indian tech workers, who are well-known for their active participation in the startup ecosystem.
Indian tech experts can be paid salaries that are nevertheless economical for corporations to spend on their workforce because India’s cost of living is lower than Dubai.
Conclusion
Dubai’s attempt at scooping up India’s top tech talent is not just a regional shift, it is a global realignment of talent, capital markets, and innovation. Dubai is emerging as the new frontier for people around the world looking for not just economic prospects but also a lively and dynamic environment that can turn aspirations into reality. This is because Dubai is the location where the tech boom is taking place. It is not only rewriting economic narratives that the synergy between India and Dubai is doing; rather, it is establishing a roadmap for the future of global technology collaboration. Indian top tech talents who work in companies for web development have always been desirable for developed nations, and no wonder Dubai, on the verge of becoming a technological hub, seeks the great talent pool from India.
FAQs
1. Why has Dubai turned into a magnet for India's tech talent?
This is due to a number of factors, including a favourable operating environment for tech companies and tech talent, business-friendly policies, pro-business infrastructure and subsidies, an open and transparent taxation framework that supports tech companies, particularly early stage startups and a high consumer adoption rate with a comparatively low cost of customer acquisition rate.
2. How is the tech scene in Dubai?
Dubai Internet City (DIC) is an IT and business park. The Dubai government has created this as a free economic zone that now provides home to world’s tech giants like Microsoft, IBM, Cisco, Oracle and others, offering employment opportunities to tech enthusiasts.
3. What business do Indians do in Dubai?
Indians in Dubai launch successful software firms using the city’s favourable rules. They also invest in real estate, hotel, and retail sectors witnessing the tremendous growth and sustainability. Indian entrepreneurs are drawn to Dubai’s global economic centre status, creating a diverse array of companies.
4. What is the salary of Indians in Dubai?
Indian employees in Dubai earn an average of ₹28.9lakhs, which basically ranges between ₹18.2lakhs and ₹50.0lakhs. The data is based on 24 profiles.