Prime Minister (PM) Narendra Modi's recent visit to Kuwait, currently the chair of the Gulf Cooperation Council (GCC), with which India has been negotiating a Free Trade Agreement for the past several years, was significant in the bilateral context and its broader regional connotations. It reflected India's keen desire to expand and strengthen its multidimensional relationship with this vital region, which has traditionally been a dependable partner in India's quest for energy security and accounts for almost 35% of its oil and 70% of its gas imports.
GCC is India's largest trading partner bloc, with trade amounting to over $162 billion in FY 2023-24. Next comes the European Union (EU) with $135.31 billion and the Association of South-east Asian Nations (ASEAN) with $120.88 billion. Over 8.8 million Indian citizens employed in the Gulf countries send over $40 billion in remittances, contributing significantly to India's economy.
India's outreach to the Gulf countries has significantly transformed over the years. From a relationship primarily focused on crude oil imports and labor exports with minimal political engagement, it has evolved into a multifaceted strategic partnership encompassing increased security and defense cooperation. This transformation started when India began engaging with the Gulf in the early 2000s under its "Look West" policy, recognizing the region's growing economic and strategic importance. This further evolved into a more proactive and multi-aligned foreign policy under PM Modi, whose multiple visits to the region covering all countries in the Gulf and beyond further deepened India's strategic, economic, and cultural engagement with the entire West Asia. The Arab leaders responded by their high-level visits to India, thus showing mutual respect and collaboration.
This story is from the January 03, 2025 edition of Hindustan Times Gurugram.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 03, 2025 edition of Hindustan Times Gurugram.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
DSP: I was prepared for Kissik and Oo Antava comparisons
As long as you don't let success get to your head, you are not bothered by the outcome,\" says composer Devi Sri Prasad, also known as DSP, who is pleased with the reception of his music for Pushpa 2: The Rule.
Sparks of Trouble for Coldplay Gujarat gig!
Ahead of its highly anticipated India tour, British rock band Coldplay is making headlines again!
Aubrey's husband, director Jeff Baena, dies by suicide
Actor-comedian Aubrey Plaza is mourning the loss of her husband, director Jeff Baena, who died at the age of 47.
Rohit and Virat still have the hunger, says Gambhir
No one in the team will say it, but they are all surely thinking it.
Lebrun brothers, the French connection in Thakkar's rise
Manav Thakkar, India's No.2 male paddler, noticed how the Lebrun brothers, the French siblings who have taken the table tennis world by storm, would \"invent stuff\" after training sessions even as the others would wind down.
HIL route to making India return
Many sidelined from the national squad have bounced back via the league, Rohidas being a shining example
Shooter Saurabh rediscovers his touch at Nationals
For five years from 2018, Saurabh Chaudhary would hold his Morini pistol so steady and shoot with such precision that it was assumed the prodigiously talented youngster would win an Olympic medal for India.
SBI Steps Up Heat With Large Collateral-Free Study Loans
India's largest lender State Bank of India (SBI) has begun offering collateral-free study loans of up to ₹50 lakh for students heading to top foreign universities, entering an arena dominated by top private lenders.
Guj, Andhra, Delhi Shine As Key Performers In Logistics
Gujarat, Andhra Pradesh, and Delhi have been identified as leading performers in India's logistics sector, according to a new report.
Foxconn Sees Record Revenue on AI Demand
Taiwan's Foxconn, the world's largest contract electronics maker, beat expectations to post its highest-ever revenue for the fourth quarter on continued strong demand for artificial intelligence (AI) servers.
