EAM Jaishankar highlights $160 billion trade ties with Gulf at Raisina Middle East

Abu Dhabi: External Affairs Minister S Jaishankar on Tuesday underlined the strategic importance of India's ties with the Middle East, particularly the Gulf region, during the inaugural session of Raisina Middle East in Abu Dhabi.

He highlighted the historical linkages between India and the region and spoke about the annual trade with the Gulf surpassing USD 160 billion, alongside wide-ranging collaborations in energy, technology, infrastructure, and education. India's engagement extends beyond the Gulf to the Mediterranean, with trade reaching USD 80 billion annually.

Notably, Jaishankar is on an official visit to the UAE from January 27 to 29, aiming to strengthen India-UAE relations and enhance bilateral ties.

During Raisina Middle East's Inaugural session, Jaishankar said, "The history of India and the Middle East are inextricably linked. Whether it is commerce or connectivity, ideas and beliefs, or customs and traditions, we have actually seen an interplay over centuries... After independence, our economic development model resulted in a perceptible dilution of linkages with the world, one felt most deeply in our immediate proximity."

He added, "Many of you would be familiar with the intensity of India's ties with the Gulf. Our trade is in the region of USD 160-180 billion annually. The energy dimension is the most visible; but there is much more to it than that. Whether it is projects, technology, education, health, or services, our presence in the Gulf is both pervasive and crucial. More than 9 million Indians live and work here. But the Gulf also serves as a gateway to the MENA region and to the Mediterranean. Our annual trade with the Mediterranean incidentally is another USD 80 billion. And the Indian diaspora there is close to half a million. We have significant interests in fertilisers, energy, water, diamonds, defence and cyber. Our projects include airports, ports and railway to phosphates, green hydrogen, steel and submarine cables. Material factors aside, this larger geography is a very critical connect between the Indian Ocean and the Atlantic. And as our history underlines, there is a symbiotic relationship between us. We certainly have stakes that are continually rising; but increasingly, India also has contributions to make that would influence the direction of events."

Speaking about the Raisina Dialogue, the EAM said, "Ten years ago, Prime Minister Modi who had just assumed office asked me why we were busy attending conferences in other countries, without holding one on our own. This exhortation led to the birth of the 'Raisina Dialogue' in New Delhi. In the period that followed, Raisina has undoubtedly established itself at home, while gradually spreading its wings abroad." (ANI)

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