The total number of Indian nationals working and residing in the Arab world has reached nine million, India’s junior Minister for External Affairs said.
He made the announcement during the inauguration of the sixth India-Arab Partnership Conference in New Delhi and also highlighted that India’s trade with Arab countries has exceeded $240 billion.
The India-Arab Partnership Conference is a result of a Memorandum of Cooperation signed between the Arab League and India in December 2008, which has been periodically renewed. This memorandum established the Arab Indian Cooperation Forum, according to a report by the UAE’s official news agency WAM.
The conference, attended by ministers, senior officials, and businesspersons from Arab states and India, alternates between being held in India and an Arab country, the WAM report said.
This year’s conference, themed “New Horizons in Investment, Trade, and Services,” was organized by the Indian Ministry of External Affairs and the General Secretariat of the Arab League.
It also received support from the Federation of Indian Chambers of Commerce and Industry, the Federation of Arab Businessmen, and the Union of Arab Chambers.
The Indian minister also emphasised that India-Arab relations have endured the test of time, as evidenced by the consistent growth of trade between India and the Arab world, even during the recent pandemic and global geopolitical conflicts.
The Arab region is a vital partner, accounting for approximately 60% of India’s crude oil imports and over 50% of fertilizers and related products.
He acknowledged the significant contributions of India’s large expatriate community in the Arab world to the prosperity of their adopted countries, describing how the partnership has become robust and indispensable.
Looking ahead, the Minister expressed that the economic engagement between India and the Arab world will receive renewed impetus through entrepreneurship, scientific and technological collaboration, environmental protection, and a stronger focus on food and energy security.