A total of 120 business owners and founders made it to the ranking published by Forbes Middle East this year, with 22 per cent falling within the retail sector; 19 per cent of them in industrials and 7.5 per cent in the diversified sector.
It was revealed that 78 per cent of business owners had established their companies in the country, of which Mr Goyel was one when Gulf Petrochem was founded in the UAE in 1998.
It has subsequently developed into a $2 billion business with 650 staff working across six business units. Headquartered in Hamriyah Free Zone in Sharjah, in the UAE, it also owns an oil terminal and storage facilities in Fujairah and has another storage facility in Sharjah. Globally it has two refineries, a capacity for Grease and Bitumen manufacturing and trades across 15 countries.
In giving Mr. Goyel the award, Forbes acknowledged the group’s global ambition with trading offices in Dubai, Singapore, Mumbai, New Delhi and Geneva, new refineries in Tanzania and Saudi Arabia being built. Not stopping there, the group will also soon be opening new trading offices in London, Lagos, Kuala Lumpur and Sydney showcasing the rapid expansion the group have enjoyed since their inception.
Speaking about the awards Mr Goyel said, “I want to thank Forbes Middle East for presenting me with this award. It is a fantastic accolade that is a culmination of the group’s effort, across our global offices, to our exponential growth and fascinating story. As the only energy company recognised within the top 100 Indian Leaders by Forbes, it bodes well for the future of our company and all our stakeholders.”
Commenting on the event and prestigious award ceremony, Hannah Stewart, Executive Editor at Forbes Middle East, explained:
“This special occasion fits into the context of Forbes Middle East’s broader vision to encourage business success across industries, sectors and demographic groups here in the Arab world. The NRI community in the UAE and the wider GCC has long played a fundamental role in shaping the business landscape of the Middle East and this event attests to the ongoing impact that Indian business professionals continue to make on the region’s economies.
At the event to commemorate the leaders, Bollywood actor Shah Rukh Khan took to the stage and was joined by T.P. Seetharam, Ambassador of India to the UAE as guest of honour.