UAE entrepreneur to be honoured with Pravasi Bharatiya Samman Award

Siddharth Balachandran, founder, executive chairman and CEO of Buimerc Corporation Ltd, will be conferred the Pravasi Bharatiya Samman Award (PBSA), the top honour for Indians living outside the country, at the 17th edition of the Pravasi Bharatiya Divas. The three-day event will be held in Madhya Pradesh from January 8-10.

Balachandran is the only recipient of the award from the UAE this year. The entrepreneur cum philanthropist is an active member of the Indian community in the UAE; he is the Chairman of the India Club, Dubai and patron governor of the Indian Social and Cultural Centre, Abu Dhabi.

Balachandran is overjoyed by the honour and attributes his success to the city of Dubai where he set up Buimerc Corporation in 2009 in Jebel Ali. The company now has its headquarters at Dubai International Financial Centre (DIFC), and has various subsidiaries with diverse lines of business. It also has major investment portfolios in the US and the EU.

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Siddharth Balachandran is also the Executive Director of SB Global Educational Resources Pvt Ltd, India. He also serves as a Director on the Board of Jaihind TV Pvt Ltd, a leading regional language TV channel based in Kerala, and Waste 2 Energy Pvt Ltd (a joint venture between the Chamber of Commerce, Kochi and W2E Inc, a US-based company) an alternate energy generating company based in Kochi, Kerala. He is also the Chairman of Sreevaas Roofing Pvt Ltd, Chennai and Vishram Hospitality Pvt Ltd, which has significant stakes in many 5-star hotels in India.

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Mantra for success

He points out that he could succeed in his venture in five years’ time thanks to the magical quality of Dubai and the boom in business in the emirate. According to him, sustainability and teamwork are critical for a business to succeed. He believes humility is also a great factor in achieving success in one’s business.

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Balachandran notes that his parents, wife and children have had a major influence on his life. He also take positive vibes from every single person he interact with. A fitness enthusiast, Balachandran takes care to stay fit despite his busy schedule.

The Award will be given by the President of India during the event. The Pravasi Bharatiya Divas is held every two years while the award is given to non-resident Indians and persons of Indian origin or organisations established and run by such Indians, in recognition of their outstanding achievements in the country and abroad.