Remarks On Prophet: Why India Is Giving So Much Importance To Gulf Countries, Know What Are The Economic, Diplomatic, And Strategic Implications
New Delhi : In the current environment of global change, the importance of Gulf countries has increased significantly in terms of India’s strategic interests. Prime Minister Narendra Modi’s government has tried to strengthen relations with all the countries of the Gulf region in the last eight years, the impact of which is clearly visible in the bilateral economic, diplomatic, and defense sectors. Not only does the Gulf region provide 64 to 65 percent of India’s crude oil requirement, but these countries are also attractive markets for India’s food exports.
India talking about making a trade deal
Not only this, but India is also trying to rapidly strengthen its military ties with Saudi Arabia, Bahrain, and UAE. After signing a free trade agreement with the UAE, India is in talks with the Gulf Cooperation Council (GCC), a six-nation body, for a separate trade agreement. These reasons explain why every effort is being made by India to pacify the anger of the Gulf countries over the derogatory remarks against Prophet Mohammad.
40 percent of gas comes from Qatar alone
India’s biggest need is for crude oil and gas. India has bought 64 percent of its crude oil requirement in the year 2020-21 from other countries including Saudi Arabia, Iraq, and UAE. In the year 2021-22, India has started buying more oil from countries like America, and Nigeria, but after the Ukraine-Russia war, it is likely to buy more oil from Gulf countries again in the year 2022-23.
Gulf countries give crude on good terms
It is cheaper to bring crude from these countries to India and at the same time, they traditionally give crude to India on good terms. This is the reason why India is lobbying for Iran in the global market and the ban on its crude exports should be lifted. About 40 percent of India’s total gas requirement comes from Qatar alone. At present, Qatar is giving gas to India at 50 percent less price than the international market. There is a gas purchase agreement between the two countries till the year 2028, which is likely to be extended.
India receives an amount of 45 billion dollars every year from the Gulf regions
The GCC (Gulf Cooperation Council) accounts for 26 percent of India’s total business. India has an FTA with one of its members, the UAE, and is now in talks with the entire GCC for a similar agreement. Exports from India to these countries have increased from $27.8 billion to $44 billion in the year 2021-22. There are officially 9 million Indians living in the entire Gulf region.
India is also very important for food security
Every year an amount of 45 billion dollars comes to India from the Gulf regions. India is also very important for the food security of these countries. India’s food security is being discussed continuously with UAE and Saudi Arabia. India is also doing special farming according to the need of these two countries so that they can get all the necessary food grains.
India is engaged in strengthening defense ties
Defense cooperation with these countries has also been getting a boost in recent years. Saudi Arabia has placed India in the category of countries like America, Russia, and Japan with which it will strengthen its strategic ties.
Talking about several projects
There are also several projects going on for defense cooperation between the Defense Ministries of the UAE and India. Recently on May 25, 2022, talks have also taken place between the two countries in this context. A defense agreement was signed between Bahrain and India in the year 2015 and since then talks on joint defense cooperation between the two countries have been going on. Military exercises are also being held between the navies of both countries.
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