The Nikai Group wishes the Indian diaspora and all UAE residents Happy Republic Day. In 2023, the Group continues to stand tall despite the pandemic-related challenges and the subsequent global meltdown. Business during the pandemic was pretty tough across key markets in the Middle East. But, Nikai being a reliable name in electronics and home appliances, capitalised on the rise in demand as consumers started working from home and felt the need to add new products to their living rooms and kitchens. When businesses across the globe were forced to shut down, the Nikai Group and their brands not only survived, but managed to punch above their weight. The period also marked the 25th anniversary of the Nikai brand.
Nikai group constantly introduces new products and has expanded its reach across borders. The group has expanded its reach and operations in key markets including the UAE, Oman and KSA, apart from setting up its own entities in Qatar and Egypt. The electronics division also revamped its e-commerce strategy both in terms of product portfolio and marketing in order to leverage on the rising consumer demand in this channel. This helped the Nikai Group to pick up progress at an increasing pace, even during the harsh times of the pandemic. Chairman of The Nikai Group, Paras Shahdadpuri believes that tough times do not last, and a successful organisation is the one that is able to expand its horizons and outlook when faced with obstacles. His hands-on approach and sharp business acumen have consistently ensured that the Nikai Group is steered in the right direction with the support of its wonderful colleagues at work.
Besides electronics, Nikai Group’s FMCG arm witnessed a change in its go-to-market model. The division has added a host of new food and beverage brands under its umbrella over the last 18 months with significant ones being that of the KSA-based Chevel Group apart from popular Indian names such as Goldie and The Man Company. The group’s digital foray in the form of Spotnik Technologies saw significant traction in the domain of AI, smart centres and VR-related solutions. The firm has also developed Smart City Studio, the first urban digital twin platform made in the UAE.
When it comes to giving back to the community in every way possible, Shahdadpuri has been a renowned name in the philanthropic sphere. He says, “I believe our life is not complete without discharging our responsibilities towards the society. There is no end to making money and spending on yourself.” Over the years, the group has been contributing to various educational institutions in the UAE and NGOs working in India. Shahdadpuri has also devoted his time and energy by providing leadership in various associations, contributing to promoting India-UAE economic and investment relationships. Recently, he has been elected as Chairman of The Electronics Group (TEG).
Shahdadpuri is very excited at the growing India-UAE bilateral trade and investments. The Comprehensive Economic Partnership Agreement (CEPA), first of its kind, was signed in 2022, and the India-UAE engagement in all fields has been on a steep rise. The bilateral trade has jumped from $60 billion to $80 billion during 2022. “The day is not far when we will touch the magical figure of $100 billion. With the GDP of India growing above 6.5 per cent, India’s global trade is set to grow. With UAE’s 2030 and Dubai’s D33 vision, we are set to witness spectacular growth in our bilateral relationship,” he says.