IBEP: 2018 (Visit to UAE/Dubai)
The philosophy of IGI behind providing International Business Exchange Program (IBEP) to the management students is, with India aligning itself with the world economy, we are no longer cocooned in our own shell, unaffected by the world outside. Since the world has become a global village now, economic and financial activity in one part of the world can affect the rest of the world as we have been witnessing over the past few years.
Getting to know the foreign systems and cultures also gives an insight into how best India and Indian business can help them in achieving growth, while our own corporates can bring in through exports, much needed resources into India for us to continue to grow. Students thus observe that visits to countries of strategic importance to India can create a win-win situation for both the entities, while bringing the countries closer in their thinking, cooperation and shared objectives.
Yet, the greatest benefit of visiting foreign shores is for the young population represented by students, who will meet with the youth of the countries they visit and exchange ideas and find areas of common interest, forging a lasting relationship with them. This will surely provide a platform for upcoming business executives and entrepreneurs to build a future that brings opportunities for consistent growth and cultural substance to our country.
The United Arab Emirates, abbreviated as the UAE, or shortened to “the Emirates”, is a country situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.
The UAE is a federation of seven emirates (equivalent to principalities), each governed by a hereditary emir, with a single national president. The constituent emirates are Abu Dhabi, Ajman, Dubai, Fujairah, Rasal-Khaimah, Sharjah, and Umm al-Quwain. The capital is Abu Dhabi, which is also the state’s center of political, industrial, and cultural activities. AE oil reserves are ranked as the worlds sixth-largest and it possesses one of the most developed economies in West Asia. The official religion followed is Islam. The population of UAE is approx. 8,264,070, out of which 16.6% are Emirati (citizens) and 83.4% are expatriates making it a hub of diversified cultures. Considering the strategic location of the UAE, Dubai has emerged as a popular industrial and trading hub as well as a tourist destination.
- Educational: To understand and witness the span of the economic growth of the UAE which will help students to broaden the horizons in the area of future career options through seminars, workshops, industrial visits and field visits.
- Leisure: Visits to the prime tourist destinations and an introduction to the culture and the social aspects of the region.
Duration of the Program: 4 Nights/5 days
Main Attractions & Educational Enrichment Programs (Places Visited)
Masdar City is an emerging ‘cleantech cluster’ that offers a creative and entrepreneurial atmosphere where business can thrive and innovation can flourish. Masdar City is being designed and operated to provide the highest quality of life with the lowest environmental footprint.
Saadiyat Island is the destination to commercial, residential, and leisure projects. It is being developed as the cultural centre of Abu Dhabi. It is a 27 square kilometers, low lying island 500 metres (1,600 ft) off the Coast of Abu Dhabi Island in the UAE. It is being developed by Tourism Development and Investment Company (TDIC). It is the flagship development project of the company which is expected to be completed by 2020.
Nakheel- Palm Jumeirah
Nakheel is one of the world’s largest real estate developers in Dubai. They have created a world-renowned project that spans a range of sectors – residential, commercial, retail and leisure, Nakheel developments are an integral part of Dubai’s landscape. Some of the notable land reclamation projects are the Palm Islands, the Dubai Waterfront, etc. The residential projects include The Gardens, International City, Jumeirah Islands and Jumeirah Lake Towers. Its shopping projects include The Dragon Mart (at International City) and Ibn Battuta Mall.
IKEA designs and sells ready-to-assemble furniture, appliances and home accessories across 43 companies. It was founded in Sweden, in Netherlands in 1943 by 17-year-old, Ingvar Kamprad. Ingvar Kamprad was listed as one of the world’s richest people in 2013.
Dubai Financial Market
The Dubai Financial Market was established, in Dubai, as a public institution having its own independent corporate body in the year 2000. DFM is operating as a secondary market for trading of securities issued by public joint-stock companies, bonds issued by the Federal Government or any of the Local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the Market. The Market commenced operations on 26th March
- There are about 61 companies listed (as of May 2012) on DFM, most of them are UAE-based companies and a few dual listings for companies. Many companies allow foreigners to own their shares.
Jafza- Jebel Ali Free Zone
Jafza is Economic Zones World’s flagship operation and one of the world’s largest and the fastest growing free zones. Established in 1985, Jafza today is spread over an area of 48 sq. kms and is home to over 6400 companies, including over 120 of the Fortune Global 500 enterprises, from across the world. It is a leading driver of the burgeoning UAE economy. With its impeccable track record, Jafza stands for innovation, customer centricity, transparent operations and entrepreneurial dynamism.
Pepsi bottling Plant- Dubai Refreshments
Dubai refreshments was established in July 1994, by Decree of His Highness, in 1962, the company was appointed as the sole franchisee, manufacturer and distributor of Pepsi- Cola Products in Dubai, Sharjah and Northern Emirates.. In 2007 DRC became a publically listed company in the DFM. DRC products include Pepsi, 7up, Mountain Dew, Mirinda, Shani, Aquafina and Lipton Iced Tea.