The author Neha Vora says she wants her book Impossible Citizens to give a varied account of life in Dubai and the UAE. Courtesy Edmond Cho
The author Neha Vora says she wants her book Impossible Citizens to give a varied account of life in Dubai and the UAE. Courtesy Edmond Cho

An Indian identity within the Emirates



Neha Vora, an Indian-American who teaches anthropology at Lafayette College, Pennsylvania, in the US, explores the long relationship Indians have had with the UAE in her newly published book Impossible Citizens: Dubai’s Indian Diaspora. It is a relationship, she says, that began much before the relatively modern trend of Indians emigrating to UAE that started in the 1970s.

In her book, Vora explores contemporary citizenship, where Indians who have lived in the UAE for decades continue to contribute to society, all the while thinking of India as home, even though some of them – third or fourth-generation Indians in the UAE – may have never visited the subcontinent.

We ask the author about the genesis of the book and its messages.

What attracted you to the subject? Have you or your family been long-time residents of the UAE?

I lived in Dubai for my graduate fieldwork in 2006 and I have made several follow-up trips after that. Around 2004, when I first got attracted to studying in Dubai, it was receiving a lot of media attention, usually through accounts of the lives of construction workers compared with the lifestyles of Emiratis. I wanted to readdress this representation of Dubai by looking more closely at the diversity of Indian experiences in Dubai.

Many people assume that the migration of Indians to the Gulf began in the “oil” era. You’ve pointed out that it began much before.

The interconnections between the Arabian Peninsula and the subcontinent precede European colonialism in the region. There has been a history of trade in goods and ideas across the Indian Ocean for centuries and people have also moved and intermarried. With the British colonial presence, this relationship became codified into Trucial Agreements and eventually into oversight of the Gulf region by the British Raj government in India.

In fact, the Raj afforded Indian merchants in the Gulf protected status, which led to tensions between Gulf locals and Indians, but also to alliances and business partnerships. Many of these long-standing businesses still exist today around the Dubai Creek area. And I interviewed many businesspeople from gold and other industries during my research, whose families have been in the region for generations.

What do you think are the chief contributions of the Indian community to the UAE?

As the largest community in the UAE and particularly Dubai, the Indian community provides many economic benefits to the country, as Indians are employed in every sector of the economy and at every skill level. Many Indians have developed strong emotional ties to the UAE and the Gulf region, some have learnt to speak Arabic and many consider Dubai home.

For the reader, what would you want the takeaway message to be?

There is a lot of literature and media attention out there that paints Dubai as exceptional, over-the-top, as a non-space, as exploitative of labour, as too materialistic, etc. I wanted, in this book, to provide a more robust and varied representation of Dubai and the UAE, one that emphasises that what is happening in this country and in the Gulf region is by no means exceptional within our contemporary globalised world. Many Dubai-Indians feel completely at home in Dubai and can’t imagine living in India, despite holding an Indian passport their whole lives. I want readers to think about how people exist in complex and contradictory ways around the world that do not always correspond to their legal status and how people in seemingly different places might have quite similar daily existences.

artslife@thenational.ae

• Neha Vora’s book Impossible Citizens is published by Duke University Press and is available at Amazon

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”