Rajan Kurian, who owns a construction business in Kerala, had bought the ticket online, the Khaleej Times reported on Wednesday.
Kurian said he was grateful for the win, considering the gloomy circumstances prevailing in the world due to the coronavirus pandemic.
"I will set aside a good part of my win to help the needy. I feel grateful with the win but I need to share it with people who need it," he told the Gulf News over phone from his hometown in Kerala.
Kurian said some of the money will go into growing his business.
"The last few months have been tough with the COVID-19 situation. My business has come to a standstill. This money will be put to good use," he said.
An Indian expat also won a BMW motorbike in the lucky draw held on Wednesday.
A longtime resident of Dubai for 30 years now, 57-year-old Syed Hydrose Abdulla, who works as a public relations officer in a beverages company, had also bought the ticket online. SCY SCY