Siddharth Balachandran

Siddharth Balachandran
Born (1976-06-01) June 1, 1976[1]
Thiruvananthapuram, Kerala, India
NationalityIndian
EducationAdvanced Management Program
Master of International Business
Alma materIndian School of Business
PSG Institute of Management Coimbatore[1]
Bapuji Institute of Engineering and Technology
Occupation(s)Entrepreneur, philanthropist, investor
Years active1999–present
OrganizationBuimerc Corporation Limited
TitleExecutive Chairman and CEO, Buimerc Corporation
Parents
  • R. Balachandran (father)
  • Sabita Varma Balachandran (mother)
AwardsPravasi Bharatiya Samman Award (2023)

Siddharth Balachandran (born June 1, 1976)[1] is an Indian investor, philanthropist, and entrepreneur. He serves as executive chairman and chief executive officer of Buimerc Corporation Ltd, an investment holding company based in Dubai International Financial Centre (DIFC),[2][3] with operations in the United Arab Emirates and India.[4][5] He holds a 3.01% stake in the Bombay Stock Exchange, the largest individual holding, and 0.38% of the National Stock Exchange of India.[6][7]

Balachandran began his career in India before moving to the UAE in 2002, where he held leadership positions in the construction material trading sectors. He later established Buimerc Corporation and its subsidiaries. His investments include holdings in financial institutions, education-related companies, and other sectors in India and the Gulf region.[8][9]

He has served with India Club Dubai, the Indian Business and Professional Council, and the UAE–India Business Council, and has supported education, healthcare and welfare projects through the Buimerc India Foundation and other groups.[10] In 2023, he received the Pravasi Bharatiya Samman Award, the highest honour presented by the Government of India to non-resident Indians for contributions in various fields.[2][11]

Early life

Siddharth was born on June 1, 1976,[1] in Thiruvananthapuram, Kerala, India, to R. Balachandran, a management professional and entrepreneur,[1] and Sabita Varma Balachandran, a former officer in the Reserve Bank of India.[1] He attended schools in Chennai and Ernakulam before graduating in civil engineering from Bapuji Institute of Engineering and Technology, Mysore University.[1] Later, he pursued a Master's Programme in International Business from PSG Institute of Management, Coimbatore, in collaboration with the Indian Institute of Foreign Trade, New Delhi and completed an Advanced Management Programme at the Indian School of Business, Hyderabad.[1][4]

Career

Balachandran began his professional career in 1999 as a strategic accounts manager at Dun & Bradstreet Information Services Pvt Ltd in Chennai.[4] He relocated to the United Arab Emirates in 2002 and joined Builders Merchants, a Dubai-based construction-materials firm,[12] contributing to the company's quality certification and expansion to Abu Dhabi.

In 2004 he founded Bumga FZCO in the Jebel Ali Free Zone; the business was later restructured as Buimerc Corporation FZE, continuing to operate from the same location.[8] In 2007 he incorporated Buimerc Corporation Ltd, initially in the British Virgin Islands and subsequently in the DIFC,[8] where he serves as executive chairman and CEO.[13] The group operates as an investment holding company with subsidiaries in the UAE and India and holds equity positions in publicly listed companies.[9][14][15]

In India, he chairs Buimerc Core Investments, which oversees the group's domestic operations. He is also a director at SB Global Educational Resources, an education services company based in Kerala.[16] As of August 2024, Balachandran held an equity stake in the National Stock Exchange of India of about 0.35 per cent.[17][9][18][3][19][20][21] As of 1 June 2025, he held about 3.01 per cent[22] of the Bombay Stock Exchange.[23][19][9]

In 2006, Balachandran became vice-chairman of India Club, a Dubai-based organization established in 1964 to support the Indian expatriate community. He later served as the club’s chairman.[24] The club offers recreational, cultural, and business facilities to its members.[25]

Public and industry roles

Balachandran has held leadership and advisory positions in several community and business organisations in the UAE. He served as vice-chairman and later chairman of India Club, Dubai,[24][25] and sits on the board of governors of the People of Indian Origin Chamber of Commerce and Industry in the Gulf Cooperation Council region.[2] He is chairman of the governing board of the Indian Business and Professional Council (IBPC) in Dubai[26][27] and a founding member of the UAE chapter of the UAE–India Business Council.[10]

Philanthropic and community involvement

During the 2009–2010 economic downturn, Balachandran worked with the Indian Consulate in Dubai to support expatriate families affected by job losses.[28][4] He has been associated with initiatives of the Al Jalila Foundation, SmartLife Dubai, KMCC Dubai, Dubai Autism Centre, Science India Forum UAE, Abu Dhabi Centre for Special Needs, Al Noor Training Centre, Rashid Pediatric Centre, and Senses Residential and Day Care Centre for Special Needs.[2] He is affiliated with the Indian Social and Cultural Centre in Abu Dhabi and is a board member of Chinmaya International Residential School in India.[9]

In 2024, he contributed AED 10 million to the Mothers' Endowment Campaign, which supports global education projects,[29][30] Buimerc Corporation Ltd pledged AED 20 million towards an endowment building for the Fathers' Endowment Campaign.[31][32][33] In April 2025, he became one of five founding trustees of the UAE-India Friendship Hospital, a non-profit healthcare initiative supported by the Dubai Health Authority and the Government of India.[34] The project aims to provide affordable medical care for low-income and blue-collar workers in the UAE.[35]

Buimerc India Foundation

Buimerc India Foundation, the philanthropic arm of Buimerc Corporation established in 2007 and based in Kochi,[36] undertakes initiatives in education, environmental sustainability, minority welfare, and disaster relief. Its activities include financial assistance for medical treatment, support for persons with special needs, community-infrastructure repairs, and projects related to cultural heritage.[37]

Awards and recognition

In 2011, Siddharth Balachandran was named among the most influential non-resident Indian (NRI) business figures in the Gulf Cooperation Council by Arabian Business.[38] That same year, he was featured in the Indian Power List published in the UAE.[4][39]

In 2023, he received the Pravasi Bharatiya Samman Award from the President of India, in recognition of his contributions to business and community welfare. This is the highest honour conferred on overseas Indians by the Government of India.[11]

That year, he was also acknowledged during a Diwali event organized by Emirates Loves India and the UAE Government Media Office for his role in business and community engagement.[40]

He received the Mohammed bin Rashid Al Maktoum Medal for Philanthropy in 2025, one of the UAE's highest civilian honours, in recognition of his charitable contributions in both the UAE and India.[41]

References

  1. ^ a b c d e f g h Sharma, Anilkumar (2023-05-03). "എന്‍.എസ്.ഇയുടെ ഓഹരികള്‍ സ്വന്തമാക്കി മലയാളി; നിക്ഷേപമൂല്യം 516 കോടി". dhanamonline.com (in Malayalam).
  2. ^ a b c d "UAE-based Indian businessman only GCC recipient of India's top honour for expats". gulfnews.com. 2023-01-03.
  3. ^ a b Abraham, Rajesh (2025-03-14). "India's growth story is here to stay, says Siddharth Balachandran". The New Indian Express. Retrieved 2025-07-19.
  4. ^ a b c d e Khaleel, Zenifer (2013-05-02). "Balachandran: optimism is crucial to success". gulfnews.com. Retrieved 2023-08-05.
  5. ^ John, Issac. "UAE ideal hub for start-ups". Khaleej Times.
  6. ^ "Siddharth Balachandran Expands Stake in India's Top Stock Exchanges". world-arabia.com. Retrieved 2025-07-19.
  7. ^ "NRI investor from Dubai boosts stake in India stock exchanges". Khaleej Times. Retrieved 2025-07-19.
  8. ^ a b c Abdulla, Nasreen. "UAE entrepreneur awarded India's top honour for expats". Khaleej Times.
  9. ^ a b c d e John, Issac; Times, Khaleej. "Dubai businessman acquires big stake in India's largest stock exchange". www.zawya.com.
  10. ^ a b "IBPC Dubai revamps boards; Balachandaran is new chairman". Khaleej Times. Retrieved 2024-08-13.
  11. ^ a b "Indore: President gives away Pravasi Bharatiya Samman Awards". Free Press Journal.
  12. ^ Denslow, Caroline (28 July 2005). "Builders' Merchants lay down Omega foundations". Arabian Business.
  13. ^ John, Issac. "India overtakes Hong Kong as world's fourth largest stock market". Khaleej Times. Retrieved 2024-02-07.
  14. ^ John, Issac. "Sebi approves DIFC firm as foreign portfolio investor". Khaleej Times.
  15. ^ "എന്‍.എസ്.ഇയുടെ ഓഹരികള്‍ സ്വന്തമാക്കി മലയാളി; നിക്ഷേപമൂല്യം 516 കോടി". Dhanam Magazine. Retrieved 2024-12-12.
  16. ^ "UAE entrepreneur to be honoured with Pravasi Bharatiya Samman Award". The Gulf Indians. 2023-01-04. Retrieved 2023-08-26.
  17. ^ "NSE shares soar nearly 30% in unlisted market after bonus and dividend". Business Standard.
  18. ^ "എൻഎസ്ഇയിൽ 77 ലക്ഷം ഓഹരികളുമായി യുഎഇ മലയാളി; ബിഎസ്ഇയിലും നിക്ഷേപം". www.manoramaonline.com.
  19. ^ a b "NRI investor from Dubai boosts stake in India stock exchanges". Khaleej Times.
  20. ^ Rukhaiyar, Ashish (2022-10-13). "Who owns the Indian stock exchanges?". Business Today.
  21. ^ John, Issac; Times, Khaleej. "Dubai tycoon top individual shareholder of BSE in Mumbai". www.zawya.com.
  22. ^ "Who are the top shareholders of the BSE?". Markets Mojo. Retrieved 2025-07-19.
  23. ^ Abdulla, Nasreen. "Watch: Sheikh Hamdan visits Bombay Stock Exchange, rings iconic opening bell". Khaleej Times. Retrieved 2025-04-15.
  24. ^ a b Reporter, A. Staff. "Corporate tax regime to boost UAE economy, say experts". Khaleej Times.
  25. ^ a b "India club gets new executive body". www.gulftoday.ae.
  26. ^ "ഇത് സ്വപ്നസാഫല്യം; നാട്ടിൽ നിന്ന് 26 അമ്മമാരെ യുഎഇയില്‍ കൊണ്ടുവരും; അക്കാഫിന്റെ 'അമ്മയോണം' വേറെ ലെവൽ!". ഇത് സ്വപ്നസാഫല്യം; നാട്ടിൽ നിന്ന് 26 അമ്മമാരെ യുഎഇയില്‍ കൊണ്ടുവരും; അക്കാഫിന്റെ 'അമ്മയോണം' വേറെ ലെവൽ! (in Malayalam).
  27. ^ "IBPC - Member Directory". www.ibpcdubai.com. Retrieved 2024-08-30.
  28. ^ Attwood, Ed. "Power to the people: Indian influence in the GCC". Arabian Business.
  29. ^ "UAE: Indian businessman donates Dh10 million to Sheikh Mohammed's campaign to honour mothers". Khaleej Times. Retrieved 2024-03-23.
  30. ^ മദേഴ്സ് ഫണ്ടിലേക്ക് ഇരുപത്തിരണ്ടര കോടിയോളം രൂപ സംഭാവന നൽകി മലയാളി | Gulf Time, retrieved 2024-03-23
  31. ^ "Mohammed bin Rashid attends MBRGI's signing of agreements for three endowment buildings in support of the Fathers' Endowment campaign - UAE - Emirates24|7". www.emirates247.com. 2025-03-14. Retrieved 2025-04-15.
  32. ^ "Indian Businessman Siddharth Balachandran contributes AED10 million to Mothers' Endowment campaign - UAE - Emirates24|7". www.emirates247.com. 2024-03-15. Retrieved 2025-04-15.
  33. ^ "Mohammed bin Rashid chairs MBRGI Board of Trustees meeting". Government of Dubai Media Office. Retrieved 2025-06-24.
  34. ^ "പ്രവാസികൾക്ക് ആശ്രയമാകാൻ യുഎഇ-ഇന്ത്യ 'ഫ്രണ്ട്ഷിപ്പ് '; തൊഴിലാളികൾക്കായി ദുബായിൽ പുതിയ ആശുപത്രി വരുന്നു". Manorama News (in Malayalam). Retrieved 2025-04-15.
  35. ^ "Dubai Health partners with UAE-India leaders to open new workers' hospital". www.arabianbusiness.com. 2025-04-13. Retrieved 2025-04-15.
  36. ^ "Buimerc India Foundation Upgrades Lives of Rural Women by Training". 2023-04-04.
  37. ^ Bose, Kushmita. "Leading with Vision and Heart". Khaleej Times. Retrieved 2024-12-12.
  38. ^ "Indian Power List 2011". Arabian Business.
  39. ^ "Siddharth Balachandran". Arabian Business.
  40. ^ Zakir, SM Ayaz. "Diwali celebrations continue in Dubai as UAE hosts 60,000 people to mark Indian festival". Khaleej Times. Retrieved 2024-12-12.
  41. ^ ഡെസ്ക്, ന്യൂസ് (2025-06-08). "സംരംഭകന്‍ സിദ്ധാര്‍ത്ഥ് ബാലചന്ദ്രന് ജീവകാരുണ്യ പ്രവര്‍ത്തനങ്ങള്‍ക്കുള്ള മുഹമ്മദ് ബിന്‍ റാഷിദ് അല്‍ മക്തൂം മെഡല്‍; മലയാളികള്‍ക്ക് അഭിമാനം". Southlive (in Malayalam). Retrieved 2025-06-24.


This article is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.