India Strengthens Strategic Ties with GCC Nations

Why in the news?

India is enhancing its multifaceted relationship with GCC nations, focusing on trade, energy security, defence, and emerging technologies. The India-GCC Joint Action Plan (2024-2028) emphasizes strategic partnerships, including space exploration, nuclear energy, and green hydrogen initiatives.

India Strengthens Strategic Ties with GCC Nations

Economic and Trade Ties:

  • The Gulf Cooperation Council (GCC) is India’s largest trading bloc, with bilateral trade exceeding $162 billion in FY 2023-24.
  • India imports 35% of its oil and 70% of its gas from the Gulf, ensuring energy security.
  • Over 8.8 million Indian citizens work in Gulf countries, contributing $40 billion in remittances annually.
  • India’s exports to the region include defence equipment, food grains, and advanced technology solutions, enhancing economic interdependence.

Defence and Security Cooperation:

  • India and GCC nations collaborate on counterterrorism, maritime security, and cybersecurity.
  • Defence ties include joint exercises, naval visits, and high-level dialogues.
  • GCC countries are interested in India’s cost-effective defence equipment and advanced technologies like AI and electronic warfare.
  • The India-GCC Joint Action Plan (2024-2028) promotes partnerships in space, nuclear energy, and green technologies.

Gulf Region: Key Highlights

  • Geography: Includes Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and UAE; linked to the Arabian Sea via the Strait of Hormuz.
  • Strategic Importance: Key for global oil transport and regional geopolitics.
  • Economic Diversification: Gulf nations focus on non-oil sectors like technology and tourism (e.g., Vision 2030).
  • Significance for India:
  • Energy Security: Supplies 55.3% of India’s crude oil; $78 billion LNG deal with Qatar.
  • Trade: Largest trading partner; UAE is 3rd largest partner.
  • Diaspora: 8.8M Indians remit $60 billion annually.
  • Defence Cooperation: Joint exercises like Desert Flag.
  • Innovation: Focus on renewable energy, technology, and connectivity frameworks like IMEC.

Sources Referred:

PIB, The Hindu, Indian Express, Hindustan Times