Now Reading: Indian population in Arab world hits 9 million, trade crosses $240 bn
-
01
Indian population in Arab world hits 9 million, trade crosses $240 bn
Indian population in Arab world hits 9 million, trade crosses $240 bn
The resident population of Indians in the Arab world has reached nine million, Minister of State for External Affairs V Muraleedharan announced at the sixth India-Arab Partnership Conference in New Delhi. He…
The resident population of Indians in the Arab world has reached nine million, Minister of State for External Affairs V Muraleedharan announced at the sixth India-Arab Partnership Conference in New Delhi. He also said bilateral trade with Arab countries has crossed $240 billion.
The conference, held under the theme 'New Horizons in Investment, Trade and Services,' was organised by the Ministry of External Affairs and the Arab League's General Secretariat. It was co-hosted by the Federation of Indian Chambers of Commerce and Industry, the Federation of Arab Businessmen, and the Union of Arab Chambers.
Muraleedharan said India-Arab relations have withstood recent global challenges, and the region supplies about 60% of India's crude oil imports and over 50% of its fertilisers. He added that a new thrust to economic engagement is coming from entrepreneurship, technology collaboration, and food and energy security.
Indian Opinion Analysis
The nine million figure underscores the Arab world as the largest destination for Indian overseas workers, who sent back over $48 billion in remittances in 2022-23, a key source of foreign exchange for India. The $240 billion trade milestone is driven largely by energy imports, but the conference's focus on investment, services and technology signals a push to diversify beyond crude. India has been negotiating a free trade agreement with the Gulf Cooperation Council, which would lower tariffs on Indian goods. The next India-Arab Partnership Conference will be held in an Arab country, where progress on these fronts will be tested.
Source: khaleejtimes.com
This story was synthesised by AI from the source linked above.
