Satyam Infoway has established operations in the DIC in order to cater for the strong non-resident Indian population in the Middle East. The first Indian Internet firm to be listed on the Nasdaq stock exchange, Satyam has joined forces with Globe Technologies, a UAE-based business group which is currently focusing on marketing Internet solutions.

Many other big Indian names are also reported to be showing a keen interest in the DIC, which was inaugurated by the Dubai authorities in October 2000. One of these is the Hinduja Group, whose chairman recently went to Dubai to explore the possibility of setting up there. Mr S P Hinduja said he was pleasantly surprised over the fast progress of Dubai and said the region as a whole was creating world-class facilities and giving a free hand to businessmen while supporting investors.

Built at a cost of US$272m, the DIC was launched as part of the Dubai authorities’ initiative to make it a regional hub for technology firms. DIC Commercial Director Adel Lootah said the DIC was expecting around 1000 companies to be operating there by the end of 2001 and that the absence of bureaucracy would make the DIC a technology-based society and a hub for the regional economic growth. Expectations are that once the DIC becomes fully operational, it will contain the largest Indian presence in terms of both information technology firms as well as manpower.