Iran-US tensions raise red flags for Indian SMEs in UAE
Business
Rising tensions between the US and Iran have made things tricky for at least 800 Indian small and medium businesses in the United Arab Emirates, who together have invested about $1.3 billion, especially in retail and hospitality.
With the United Arab Emirates being India's second-biggest spot for overseas investment, this situation is making a lot of business owners nervous.
War insurance? Not a priority for many
A big worry? Most of these companies don't have war insurance, leaving them financially exposed if things get worse.
Even after incidents like a drone-related fire at Dubai's Burj Al Arab, some brands, like Wow! Momo, are staying optimistic about doing business in the Middle East, but uncertainty is definitely in the air.