Economy
The global purchasing power of Tamil Muslims in 2011 was estimated at almost $13 billion viz. $5 billion in Tamil Nadu, $4 billion in Malaysia,, $3 billion in Sri Lanka, $600 million in Singapore. Tamil Muslims have historically been money changers (not money lenders) throughout South and South East Asia especially in Malaysia, Singapore, Indonesia, Hong Kong are dominated by them. Generally Tamil Muslims are involved in various trades like retail, mutton shops, shops in foreign bazaar. They are also involved in pearl/gem trade and leather industry. The coloured stones business which Sri Lanka is famous for is in the hands of Tamil speaking Muslims. Other than Gujarati and Marwadis the only community doing wholesale diamond business in Hong Kong, Dubai, Belgium, Thailand other than Mumbai is Tamil Muslims from Ramnad. Semiprecious stones like peridot, rubilite, amethyst, or moonstone are led by Tamil Muslims from Tanjore district in countries like China, Thailand, Japan, Singapore, and Malaysia. Paper business by people from Erwadi. Department store, textile showrooms by people from Pallapatti. Burma bazar is led by entrepreneurs from Ramanathapuram district. Due to new emerging opportunities, lot of Tamil Muslims went to the Persian Gulf. Now lakhs of Tamil Muslims are spread over in GCC countries and also in Singapore, Malaysia and Brunei. This brought prosperity to the Tamil Muslim community. There are about 600 millionaires within the community and at least one billionaire viz. B.S. Abdur Rahman (better known as the Buhari Group) who founded the conglomerate ETA Star Group, Chennai Citi Centre, Chepauk Stadium, Marina Lighthouse, Valluvar Kottam, Government General Hospital, Gemini Flyover, Crescent Engineering College, et al.. He owns over 70 ocean-going vessels. Periya Thambi Nainar of 17th century was widely regarded as the first millionaire from the Tamil Muslim community.
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Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)