Indian Visionaries 2025: Ashish Vijay, Founder, AV Group
This article is part of Entrepreneur Middle East’s special edition: 33 Indian Visionaries.
For over 77 years, the AV family legacy has been synonymous with excellence in diamonds, fine jewelry, and high-value collectibles. Carrying forward this rich tradition, Ashish Vijay has redefined the standards of the luxury industry, blending heritage, innovation, and financial acumen to position AV Group as a global leader. At the heart of Ashish Vijay’s vision lies AV’s Private Collection, an assemblage of the world’s rarest diamonds and gemstones, each selected for its exceptional quality, historical significance, and rarity. From the Scarlet Chakra Fancy Red Diamond to the finest Colombian no-oil emeralds like the Earth Magic Necklace, the collection is a tribute to nature’s artistry and the craftsmanship that transforms these stones into icons of timeless beauty.
Dubai and the UAE have played a pivotal role in this journey, providing the ideal environment for luxury and high-value investments to flourish. With its global connectivity, visionary leadership, and thriving ecosystem, the region has enabled Ashish Vijay to elevate AV Group to new heights, setting new benchmarks in the industry. Ashish Vijay possesses a rare ability to identify and select the world’s finest gemstones— each piece a testament to his deep expertise, instinct, and appreciation for rarity. Beyond diamonds, AV’s Private Collection is also home to rare masterpieces of jewelry and high-value artistic creations— each representing an intersection of heritage, exclusivity, and unparalleled artistry.
Ashish Vijay’s passion for rarity extends beyond gemstones, curating some of the world’s most intricate, hand-carved sculptures, each telling a unique story of craftsmanship and culture. From the Ruby Falcon, sculpted from a single natural ruby every piece reflects an unwavering commitment to preserving and showcasing the highest form of artistic expression. These creations go beyond material worth—they are legacies cast in stone, symbolizing power, resilience, timeless investments and beauty. Ashish Vijay’s impact extends far beyond the luxury sector.
Through Gems of Hope, his initiative in partnership with Tata Memorial Hospital and AIIMS Delhi, he is revolutionizing cancer care and research, ensuring that the brilliance of fine gems is matched by the light of hope for those in need. By directing resources toward critical medical aid and research, Gems of Hope is a testament to his vision of responsible luxury—where wealth creates lasting, meaningful change. Recognizing the evolving financial landscape, Ashish Vijay is now leading the launch of the AV Investment Fund, a groundbreaking investment initiative aimed at maximizing investor earnings while expanding opportunities in high-value assets. This move cements AV Group’s role as a pioneer in asset-backed wealth creation, ensuring sustainable growth in a rapidly shifting global economy.
Indian Visionaries 2025: Suresh Vaidhyanathan, CEO-Special Projects, Ghassan Aboud Group
This article is part of Entrepreneur Middle East’s special edition: 33 Indian Visionaries.
Suresh Vaidhyanathan is one of the region’s accomplished C-suite leaders with an experience of 25+ years with multi-business organizations. He manages a diverse portfolio of businesses at the Ghassan Aboud Group, including strategic public private partnerships with AD Ports Group, digital platforms, and the food sector value chain. Vaidhyanathan has an excellent professional standing in the region. He is an alumnus of the Leading Digital Business Transformation program at IMD Business School and is certified in Blockchain Technologies and Artificial Intelligence at MIT Sloan School of Management.
He completed the M&A program at University of Chicago Booth School of Business and in addition to programs in governance and investing at Harvard, INSEAD and Wharton. He is also an alumnus of the Oxford Leading Sustainable Corporations Program. On the governance front, Vaidhyanathan is a Certified Board Director with IOD Hawkamah, UAE, Member of GCC Board Directors Institute, Fellow Member of IOD, India and was recognized as a 2012 Board Leadership Fellow NACD, USA. He is also a charter member of the Harvard Business Club of the GCC.
Indian Visionaries 2025: Adeeb Ahamed, Managing Director, Lulu Financial Holdings
This article is part of Entrepreneur Middle East’s special edition: 33 Indian Visionaries.
Adeeb Ahamed is a prominent entrepreneur, investor, and Managing Director of Lulu Financial Holdings, a leading financial services provider with a strong presence across the Middle East, Europe and Asia. Under his visionary leadership, the company has grown into a globally recognized name in financial services, foreign exchange, and remittance services, with a network of over 360 centers worldwide. greater financial inclusion and accessibility, particularly for underserved communities.
Ahamed has been instrumental in driving the company’s expansion and leveraging technology and innovation to meet the financial needs of diverse markets. Through his efforts, Lulu Financial Holdings has embraced digital transformation, introducing cutting-edge solutions such as mobile apps, online remittance platforms, and blockchain-based services to ensure.
In addition to his work with Lulu Financial Holdings, Ahamed is a passionate advocate for digitalization and technology adoption, especially in the fintech sector. His active investments in technology-driven enterprises reflect his commitment to fostering innovation and creating financial solutions for the modern world.
Ahamed’s business acumen extends to the hospitality sector. He is the founder of Twenty14 Holdings, an Abu Dhabi-based hospitality investment firm with a portfolio of luxury properties, including the Great Scotland Yard Hotel in London, the Sheraton Oman in Muscat, the Pullman Downtown Dubai, and Port Muziris in Kochi, India. Beyond his corporate success, Ahamed is deeply committed to corporate social responsibility, supporting philanthropic initiatives in education, healthcare, and disaster relief.
His efforts to combine business growth with positive social impact have made him a respected figure in both the financial and philanthropic communities. Through his leadership, Adeeb Ahamed continues to shape Lulu Financial Holdings into a dynamic global enterprise while expanding his influence across diverse sectors, making a lasting impact on both industry and society.
Indian Visionaries 2025: Dyuti Parruck, Co-Founder and CEO, Decisive Zone
This article is part of Entrepreneur Middle East’s special edition: 33 Indian Visionaries.
Dyuti Parruck, Co-founder and CEO of Decisive Zone, has earned the moniker “Mr. Golden Visa” for his unparalleled expertise in business expansion and facilitating UAE Golden Visas. Recognized by leading media outlets such as Arabian Business, India Today, and CEO Middle East, Parruck’s influence has solidified his reputation as a prominent figure in regional development.
His inclusion in the UAE’s Top 50 Power List further highlights his contributions to the country’s economic growth and talent attraction. Through Decisive Zone, Parruck has played a pivotal role in helping top-tier professionals and companies leverage the UAE’s Golden Visa program. By simplifying the complexities of local regulations, he has positioned himself as a trusted advisor and champion of the UAE’s Dubai 2040 Vision, aimed at attracting global talent and fostering sustainable development. Beyond visa facilitation, Parruck provides strategic guidance to influential entrepreneurs, empowering them to build profitable networks and make informed decisions in Dubai’s competitive market.
Decisive Zone acts as a bridge between Dubai and the international business community, offering a wide array of tailored services, including business setup, visa processing, PRO Services, finance and banking, VIP business setup, citizenship, marketing, and concierge services. Parruck’s celebrity status has also enabled him to form high-impact partnerships, such as his collaboration with Safa Siddiqui of Dubai Bling. Together, they drive the success of Decisive Living, a luxury real estate venture catering to the growing demand for Dubai’s high-end lifestyle, particularly in the American market. The partnership simplifies relocation and investment in Dubai, offering a seamless, end-to-end experience for clients. Through innovative strategies and a forward-thinking approach, Parruck has positioned Decisive Zone as a vital player in Dubai’s economy. From supporting startups to collaborating with key stakeholders and expanding the firm’s global footprint, Parruck continues to ensure Dubai remains a premier destination for business and luxury living.
Indian Visionaries 2025: Balbinder Singh, Chairman and Co-Founder, AIOKA
This article is part of Entrepreneur Middle East’s special edition: 33 Indian Visionaries.
Balbinder (Bally) Singh has worked in the marketing, entertainment and tech industries for over fifteen years. He is currently the Chairman and co-founder of AIOKA – a UAE-born company specialising in high end Formula 1 corporate and hospitality experiences for clients such as LVMH, ADGM (Abu Dhabi Global Markets), OKX & Emirates NBD. Singh has completed projects with and consulted for several global blue chip companies including Microsoft, The Marriott Group, Hilton Group, Alfa Romeo F1 Team, Mercedes and OKX.
AIOKA – CRAFTING CORPORATE EXPERIENCES AIOKA has been operating in the Formula 1 space for over 15 years, crafting luxurious hospitality and corporate services. Today, AIOKA operates globally, delivering activations at some of the world’s most prestigious venues from Monaco to Las Vegas, Singapore to Brazil and Abu Dhabi to Australia for leading companies including LVMH, OKX (McLaren official partner) and Jiushi Group. From recently hosting activations at The Museum Of The Future to hosting private Dom Pérignon tastings on a yacht during Abu Dhabi Grand Prix, AIOKA has ambitious plans for the future. The company has made a name for itself hosting the uber wealthy and crafting luxury track-side experiences which include high-end cuisine, world-class events and up-close encounters with the sport’s stars. But AIOKA is now leveraging the glamour and excitement of F1 to drive its expansion into the corporate B2B space.
The shift to B2B also reflects changes in the hospitality industry, where clients are demanding more bespoke experiences in a corporate environment whilst enjoying the race weekend atmosphere. AIOKA utilises its strategic relationships across Formula 1, hospitality and entertainment to craft unique experiences that serve each clients needs. Looking ahead, AIOKA has ambitious plans to continue serving its global clients. Over the next five years, the company aims to continue its rapid expansion, both within the world of Formula 1 and beyond. Most recently supporting OKX with its Dubai launch at the Museum Of The Future. With a strong foundation of excellence, innovation, and bespoke corporate experiences, AIOKA is well-positioned to build on its existing success and redefine the future of corporate hospitality.
Indian Visionaries 2025: Vineet Budki, CEO, Sigma Capital
This article is part of Entrepreneur Middle East’s special edition: 33 Indian Visionaries.
Vineet Budki is a dominant force in the Web3 landscape, not only as a serial entrepreneur and the architect of successful Middle Eastern funds like Cypher Capital, but as a global thought leader. He is the CEO of Sigma Capital, a US$100 million crypto-native fund headquartered in the Middle East. Sigma Capital is poised to invest in over 100 blockchain startups within the next three years, cementing its commitment to fostering the growth of the decentralized ecosystem.
Budki’s strategic investment acumen has already fueled the growth of game-changing Web3 startups, including Mysten Labs (Sui), Gunzilla, Peaq Network, Berachain, Revolving Studios, My Pet Hooligan, and a diverse portfolio of over 300 investments. Budki’s influence extends far beyond financial backing. He is a sought-after global speaker, sharing his expertise at prestigious events such as the World Economic Forum, Binance Blockchain Week, Token2049, and numerous other international conferences. He’s a powerful voice shaping the discourse on the future of blockchain and decentralized technologies. His insights have garnered significant attention from leading global media outlets.
Budki has been extensively featured in platforms like The Times, The Sun, CoinDesk, Cointelegraph, Entrepreneur Middle East, and Decrypt, where he provides invaluable perspectives on market trends, adoption rates, and the overall growth trajectory of the blockchain space. He is a strong opinion leader across the internet, actively engaging on social media and furthering the global conversation. Budki’s core belief centers on investing in transformative technologies that redefine global interaction. As he emphasizes, “Web3 investments are not about finding Magic coins but investing in startups that are changing the way the world will transact and interact with each other in the future.” With his conviction that “Web3 is the future and it’s great to arrive here early!”, Vineet Budki continues to be a driving force, propelling the evolution of the decentralized web on a global scale.
Indian Visionaries 2025: Kabir Mulchandani, Founder and Executive Chairman, FIVE Holdings
This article is part of Entrepreneur Middle East’s special edition: 33 Indian Visionaries.
Kabir Mulchandani is the founder and Executive Chairman of FIVE Holdings. With assets exceeding USD$2.9 billion, over 1,700 keys, a workforce of over 3,000, Mulchandani’s leadership has propelled the expansion of FIVE Holdings to include flagship properties FIVE Palm Jumeirah, FIVE Jumeirah Village, and FIVE LUXE in Dubai, FIVE Zurich in Switzerland, and acquired Ibiza landmarks—Destino Five Ibiza, El Hotel Pacha, and the iconic Pacha Ibiza nightclub—through the landmark €302.5 million acquisition of The Pacha Group in October 2023, aligning with Mulchandani’s vision of building a universal ecosystem of luxury, entertainment, and sustainability. The Group also encompasses FIVE MODE and The Pacha Collection Fashion Lines, Fly FIVE and FIVE Music, the Group’s record label.
FIVE Holdings’ financial trajectory under his stewardship led to an impressive AED 1,531 million in revenue for the nine months ended September 2024 and an EBITDA of AED 525 million, reflecting robust growth and consistent performance. His strategic decision-making extends to the financial markets, demonstrated by the successful launch of a $350 million Green Bond on Nasdaq Dubai in October 2023, underscoring his commitment to sustainable innovation while achieving significant financial milestones. A champion of green innovation, Mulchandani has achieved groundbreaking milestones in sustainable hospitality as evidenced by FIVE Holdings’ pioneering ESG achievements. Both, Dubai Hotels operate on 100% solar power, hold 100% LEED Platinum certifications in Dubai and Zurich, the highest standard in green building, and earned the world’s only and highest ‘A’ ESG Rating through ISS. Addressing Ibiza’s water scarcity, Destino Five Ibiza has implemented conservation measures, reducing usage by 24.3% during the summer of 2024, as a start of its Net Zero Water initiative underway.
A significant achievement in energy was a 100% green power contract, which The Pacha Group secured in 2024. The Resort, Pacha Ibiza Nightclub, and El Hotel Pacha are also registered with the US Green Building Council and are undergoing renovations to meet green building standards of LEED Gold or Higher. Mulchandani has built a people- first culture right across FIVE Holdings. Acknowledged as a Great Place to Work, in 2024 FIVE Hotels and Resorts ranked #12 for Best Workplaces for Hospitality in GCC, #13 in the Best Workplaces for Millennials ‘Large Category’, #8 in the Best Workplaces ‘Large Category in the UAE’ and #16 in the Best Workplaces ‘Large Category in the Middle East’. The company’s distinction as a large-sized organization is evident, ranking #31 in the Best ‘Large-Sized Companies in Asia’ 2024. Additionally, FIVE Hotels and Resorts stood #6 for the Happiest Employees in the Region (ahead of Coca Cola and Deloitte).
Indian Visionaries 2025: Sima Ved, Founder and Chairperson, Apparel Group
This article is part of Entrepreneur Middle East’s special edition: 33 Indian Visionaries.
Sima Ved is the founder and chairperson of Apparel Group, a leading retail and fashion conglomerate in the Middle East. With a vision to create a globally recognized retail business, Ved has transformed Apparel Group into a multi-billion-dollar enterprise that boasts over 75 brands and operates more than 1,000 stores across the region. Founded in 1999, Apparel Group began as a small business in Dubai. Under Ved’s visionary leadership, the company quickly expanded into a major player in the retail sector. The group’s diverse portfolio includes international fashion, footwear, and lifestyle brands such as Guess, Steve Madden, Tommy Hilfiger, Aldo, Rituals, and Adidas. Apparel Group has become synonymous with style and quality, serving a broad consumer base and contributing significantly to the retail landscape in the UAE and the wider GCC region.
Ved’s entrepreneurial journey is characterized by her sharp business acumen, a focus on customer satisfaction, and an ability to scale operations in a highly competitive market. She has successfully guided the group to adapt to the evolving retail environment by embracing omnichannel strategies, integrating online shopping platforms, and leveraging digital marketing. These innovations have been pivotal in sustaining the company’s growth and resilience, particularly in an era marked by rapid digital transformation. Beyond her business achievements, Sima Ved is deeply committed to philanthropy and community development. She actively supports initiatives promoting education, women’s empowerment, and social welfare, particularly within the Middle East.
Her efforts reflect a dedication to giving back to the community while fostering sustainable development. Sima Ved’s journey from a small business owner to the leader of one of the region’s most successful retail conglomerates serves as an inspiration, particularly to women entrepreneurs. Her story of vision, perseverance, and innovation highlights her role as a trailblazer in the Middle East’s business world.
Indian Visionaries 2025: Dr. Shamsheer Vayalil, Founder and Chairman, Burjeel Holdings
This article is part of Entrepreneur Middle East’s special edition: 33 Indian Visionaries.
Dr. Shamseer Vayalil is a trailblazing healthcare entrepreneur and the founder and chairman of Burjeel Holdings, one of the UAE’s leading healthcare conglomerates. Under his visionary leadership, Burjeel Holdings has transformed the Middle East’s healthcare landscape, becoming synonymous with high-quality medical services and cutting-edge healthcare facilities. Since its inception in 2007, Burjeel Holdings has grown into an extensive network of hospitals, medical centers, and specialty clinics, offering comprehensive healthcare services ranging from general medicine to highly specialized treatments. The flagship Burjeel Medical City in Abu Dhabi stands as a testament to the group’s commitment to clinical excellence, patient care, and innovative medical technology, setting new benchmarks in the region.
Dr. Shamsheer’s journey into healthcare entrepreneurship began with a deep-seated commitment to improving access to quality medical services in the region. A trained physician with exceptional business acumen, he combined his medical expertise with a vision to create world-class healthcare solutions tailored to the needs of diverse communities in the UAE. Under his stewardship, Burjeel Holdings has continuously expanded its footprint, ensuring that cutting-edge healthcare is both accessible and inclusive. A strong advocate for innovation in medicine, Shamsheer has invested heavily in state-of- the-art medical technologies and digital health solutions to enhance patient outcomes and streamline healthcare delivery.
His leadership philosophy is rooted in compassion and patient-centric care, fostering a healthcare environment where global standards of excellence meet personalized attention to patients’ unique needs. Beyond business, Dr. Shamsheer has championed philanthropic initiatives in healthcare and beyond, reinforcing his dedication to improving lives across the region. Through his remarkable contributions, Shamsheer Vayalil has cemented his position as a leading figure in the global healthcare industry, inspiring the next generation of entrepreneurs and healthcare professionals alike.
Indian Visionaries 2025: Zubin Karkaria, Founder and Chief Executive Officer, VFS Global
This article is part of Entrepreneur Middle East’s special edition: 33 Indian Visionaries.
In 2001, Zubin Karkaria conceptualised and founded VFS Global – as an outstanding example of disruptive innovation – and led the company to become a global leader in its space within four to five years of its inception. Today the company is a trusted partner of multiple governments across the world and is enhancing global cross-border mobility of people. Karkaria was also the CEO of the Switzerland-headquartered Kuoni Group (of which VFS Global was a part) globally from 2015 until 2017 when the Group was split-up into stand-alone businesses following its privatization. VFS Global, headquartered in Zurich, Switzerland and Dubai, UAE is a portfolio company of Blackstone, the world’s largest alternative asset manager.
With a rich experience of over 30 years in the travel and tourism business and in developing a truly global business, Karkaria has taken on and overcome several challenges successfully. An economic value creator, his success lies in his sharp entrepreneurial sense combined with organisation building skills. A visionary leader, Karkaria is also deeply attuned to the evolving technological landscape. He is a strong believer in the importance of emerging technologies and has actively championed the integration of these advancements into the strategic fabric of VFS Global. His ability to understand and leverage technology has been instrumental in building VFS Global into a technology-led, innovative company that continuously enhances its market leadership position. Joining Kuoni in 1991, Karkaria handled several managerial roles before he was appointed as the CEO and Managing Director of Kuoni India and South Asia in 2005 – managing the Outbound and Domestic tours division, the Business Travel division, and the Inbound Travel division, and simultaneously growing the VFS Global business.
He was made a member of the Kuoni Group Executive Board in 2013, and in 2015 he became the first Asian to be appointed as the CEO of Kuoni Group. However, Karkaria’s greatest achievement has been the conceptualization and the outstanding success of VFS Global – the world’s leading outsourced visa, passport and consular services specialist. In recognition of his immense experience and contribution to the broader travel and tourism related services domain and his entrepreneurial experience Karkaria has been appointed on several high-powered committees during his career. Most recently, in June 2023, he was appointed on the National Tourism Advisory Council of the Ministry of Tourism, Government of India. Karkaria has also been appointed as an Executive Committee member of the World Travel & Tourism Council (WTTC), the preeminent global travel & tourism industry body, since December 2022, prior to which he was a Global Member of the Council. In December 2016, Karkaria was appoint- ed ‘Chevalier de l’Ordre National du Mérite’ (Knight of the National Order of Merit) by the President of the French Republic, François Hollande.
This exclusive distinction recognised Karkaria’s exemplary contributions of over the past three decades in supporting the development of travel and tourism to France. He has won several other accolades recognizing his leadership and entrepreneurial achievements, including being recognized as the “Pioneer of the Global Visa Services Industry” and being listed as one of the “Top 25 Young Executives in India” by Business Today. He has also served on the boards and committees of several industry bodies including as External Director on the board of ITDC (India Tourism Development Corporation).