India – Gulf Business Summit 2023
For centuries, India and the Gulf region have had a close association due to trade and commerce activities carried out across the Arabian Sea. This continuous and frequent interaction, as well as the mobility of individuals from both sides, has led to the spread of language and culture between them.
The strong trade and investment relations between India and the Gulf Cooperation Council (GCC) member states, including the UAE, Saudi Arabia, Kuwait, Qatar, Oman, and Bahrain have been built on India’s historical ties to the region, its dependence on Gulf energy exports, and the Gulf’s reliance on India for food security and agricultural exports.
Today for India, the Gulf region is a crucial strategic region with major geopolitical and economic implications. Deep cultural exchanges, historical ties, and civilizational connections exist between India and the region. Both countries shared a colonial past and independent-struggle conflicts. India relies heavily on the GCC nationes as a source of remittances, oil, and investment.