Data | Hate remarks against the Prophet: Why does the Gulf matter?
2 years, 9 months ago

Data | Hate remarks against the Prophet: Why does the Gulf matter?

The Hindu  

Following diplomatic backlash from all the countries that are part of the Gulf Cooperation Council — Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, and Oman — and Iran, the ruling BJP suspended its spokesperson, Nupur Sharma, and the Delhi unit of the party expelled its media cell head, Naveen Kumar, over their remarks on Prophet Mohammad and Islam. One, the region accounts for 16% of India’s total imports, with the UAE and Saudi Arabia featuring among India’s top five import partners. Share in trade The table lists the share of GCC countries and Iran in India’s total trade, imports, and exports and their ranking among over 200 countries between 2017 and 2021. Click to remove AMP mode Oil dependence The table lists the share of GCC countries and Iran in India’s total fuel imports which includes crude oil, natural gas and coal between 2017 and 2021.

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History of this topic

Remittances To India From Advanced Economies Surpass Gulf Countries: RBI Bulletin
1 week, 3 days ago

Remittances To India From Advanced Economies Surpass Gulf Countries: RBI Bulletin

ABP News  

Share of inward remittances from advanced economies, including the US and the UK, has risen, surpassing that of Gulf economies in 2023-24, reflecting a shift in migration pattern towards skilled Indian diaspora, said RBI March Bulletin released on Wednesday. The share of the US in India's total remittances remained largest, rising to 27.7 per cent in 2023-24 from 23.4 per …

India’s Gulf strategy: Why Qatar matters more than ever
1 month, 1 week ago

India’s Gulf strategy: Why Qatar matters more than ever

Firstpost  

Prime Minister Narendra Modi with the emir of Qatar Sheikh Tamim Bin Hamad Al-Thani watches a performance as the latter is welcomed upon his arrival in India, in New Delhi. Prime Minister Narendra Modi chose to receive the Qatari Head of State, Sheikh Tamim bin Hamad Al-Thani, during his state visit to India, clearly affirming the high importance India attaches …

India’s Gulf strategy: Why Qatar matters more than ever
1 month, 1 week ago

India’s Gulf strategy: Why Qatar matters more than ever

Firstpost  

Prime Minister Narendra Modi with the emir of Qatar Sheikh Tamim Bin Hamad Al-Thani watches a performance as the latter is welcomed upon his arrival in India, in New Delhi. Prime Minister Narendra Modi chose to receive the Qatari Head of State, Sheikh Tamim bin Hamad Al-Thani, during his state visit to India, clearly affirming the high importance India attaches …

US becomes India’s fifth largest oil supplier ahead of Trump trade tariffs, Russia retains top spot: Report
1 month, 1 week ago

US becomes India’s fifth largest oil supplier ahead of Trump trade tariffs, Russia retains top spot: Report

Live Mint  

India's oil imports from the US rose sharply in January from December, making the world's largest economy the fifth largest oil supplier to India. India's imports from its top oil supplier, Russia, rose 4.3 per cent last month to 1.58 million bpd. The share of Middle Eastern oil in India's about 5.1 million bpd crude imports in January rose to …

Delhi looks to West, wins friends in Gulf
2 months, 3 weeks ago

Delhi looks to West, wins friends in Gulf

Hindustan Times  

Prime Minister Narendra Modi’s recent visit to Kuwait, currently the chair of the Gulf Cooperation Council, with which India has been negotiating a Free Trade Agreement for the past several years, was significant in the bilateral context and its broader regional connotations. Over 8.8 million Indian citizens employed in the Gulf countries send over $40 billion in remittances, contributing significantly …

Chart Beat: Stable net remittances a boost for India’s external position
8 months, 3 weeks ago

Chart Beat: Stable net remittances a boost for India’s external position

Live Mint  

India's outward remittances have jumped substantially over the past 10 years. Remittances play a crucial role in a country’s balance of payments position - more so in the case of India, given its current account deficit. India’s net remittances as a percentage of gross domestic product were stable at 3% in FY24, at about the same level as in FY23. …

Indians in Kuwait and Gulf countries: A look at numbers
9 months, 2 weeks ago

Indians in Kuwait and Gulf countries: A look at numbers

The Hindu  

The story so far: Around 40 Indians were killed in a massive fire that erupted in a building in Kuwait’s southern district of Al-Mangaf. The Gulf War in the early 1990s had a considerable impact on the Indian population in Kuwait, with over 1.7 lakh Indians requiring to be evacuated by sea and air by the Government of India, but …

World Migration Report 2024: India received $111 billion in remittances in 2022
10 months, 2 weeks ago

World Migration Report 2024: India received $111 billion in remittances in 2022

The Hindu  

According to the United Nations’ latest World Migration Report, India was the highest recipient of remittances from abroad at $111 billion in 2022. The report enumerated that with a “very large” number of migrant workers from the subregion, South Asia receives “some of the largest inflows of remittances globally.” It further stated, “India is also the origin of the largest …

Ties across the sea: The Hindu Editorial on the India-UAE close relationship
1 year, 1 month ago

Ties across the sea: The Hindu Editorial on the India-UAE close relationship

The Hindu  

At first glance, Prime Minister Narendra Modi’s visit to the United Arab Emirates last week, might have seemed like any other bilateral visit he has undertaken. The timing may have been related to an invitation to address the ‘World Governments Summit’ in Dubai and to inaugurate Abu Dhabi’s first Hindu temple, but the 10 bilateral agreements signed need a closer …

Abu Dhabi considers investment worth $50 billion in India
1 year, 4 months ago

Abu Dhabi considers investment worth $50 billion in India

Firstpost  

Over the past decade, the two nations have been working to strengthen their relationship and have set a goal to increase non-oil bilateral trade to $100 billion. Notably, Modi’s recent visit to Abu Dhabi marked his fifth trip to the Gulf nation since assuming office as the Prime Minister in 2014. Earlier this year, India and the UAE set a …

Mint Explainer: India-Saudi Arabia deals - A bull-run in the making?
1 year, 6 months ago

Mint Explainer: India-Saudi Arabia deals - A bull-run in the making?

Live Mint  

As India fortifies its economic links with the Middle East, particularly through newly inked Memoranda of Understanding with Saudi Arabia, shares of several Indian-listed companies are experiencing a positive nudge. Companies like Essar are already capitalizing on these agreements by expanding their steel operations in Saudi Arabia, particularly in areas requiring technology to reduce carbon emissions. A closer look at …

OPINION | HOW INDIA WILL BENEFIT FROM SAUDI FRIENDSHIP?
1 year, 6 months ago

OPINION | HOW INDIA WILL BENEFIT FROM SAUDI FRIENDSHIP?

India TV News  

The state visit of Saudi Arabian Crown Prince Mohammed bin Salman, close on the heels of the successful G-20 Delhi Summit, has underlined the deep strategic friendship between both countries. Saudi Arabia is India’s fourth largest trading partner and India imports 18 per cent of crude from Saudi Arabia. Since Narendra Modi became Prime Minister, he has visited Saudi Arabia …

Opinion: Saudi Crown Prince's post-G20 summit stay can open new vistas in bilateral ties
1 year, 6 months ago

Opinion: Saudi Crown Prince's post-G20 summit stay can open new vistas in bilateral ties

India Today  

The fact that the Crown Prince and Prime Minister of Saudi Arabia, Mohammed bin Salman, is staying in India on an official bilateral visit after the G20 summit affirms the deep bilateral ties that exist between the two neighbours linked by the Arabian Sea. Saudi Arabia took the lead in pursuing a “strategic partnership” with India on the basis of …

Trade is at the heart of the India-UAE relations
1 year, 6 months ago

Trade is at the heart of the India-UAE relations

Hindustan Times  

Later this week, New Delhi will host the most significant global forum in its history. UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi pose for a photograph during an official visit reception at Qasr Al Watan, Abu Dhabi, UAE, July 15, 2023. In 2017, the UAE-India relationship was formally elevated to a Comprehensive Strategic …

Modi in UAE: In New Era of Bilateral Trade, a Firm Foreign Policy Caps Ties
1 year, 8 months ago

Modi in UAE: In New Era of Bilateral Trade, a Firm Foreign Policy Caps Ties

The Quint  

Into a year of the CEPA, the value of bilateral non-oil trade reached USD 50.5 billion, an increase of 5.8 percent from the previous year. In an article for the Dubai-based Gulf News, Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, pointed out that this increase was recorded "as global trade declined in both Q3- and Q4-2022 …

India, GCC agree to pursue FTA; resume talks: Goyal
2 years, 4 months ago

India, GCC agree to pursue FTA; resume talks: Goyal

The Hindu  

India and the Gulf Cooperation Council have agreed to pursue a free trade agreement between the two regions and resume negotiations, Commerce and Industry Minister Piyush Goyal said on Thursday. India's exports to the GCC member countries grew by 58.26% to about $44 billion in 2021-22 against $27.8 billion in 2020-21, according to data from the Commerce Ministry. "We have …

India, GCC group to launch free trade pact negotiations on November 24
2 years, 4 months ago

India, GCC group to launch free trade pact negotiations on November 24

The Hindu  

India and the Gulf Cooperation Council are expected to launch negotiations for a free trade agreement on November 24 with an aim to boost economic ties between the two regions, an official said. Commerce and industry minister Piyush Goyal had, on November 16, said that India will be launching a new free trade agreement next week. India imports predominately crude …

India, GCC group likely to start free trade pact negotiations next month
2 years, 4 months ago

India, GCC group likely to start free trade pact negotiations next month

The Hindu  

India and the Gulf Cooperation Council member countries are expected to start negotiations for a free trade agreement next month with an aim to boost economic ties between the two regions, an official said. According to experts, the GCC region holds huge trade potential and a trade agreement would help in further boosting India's exports to that market. Mumbai-based exporter …

Will Prophet remarks controversy shake India-Middle East trade?
2 years, 9 months ago

Will Prophet remarks controversy shake India-Middle East trade?

Al Jazeera  

Gulf nations will watch protests in India closely with both sides having billions riding on investments and trade. This and other moves like investments in Indian businesses by the sovereign wealth funds of Saudi Arabia and UAE are seen as the maturing of economic ties between India and the Gulf, beyond the decades-old areas of oil and remittances. The initiative …

Explained | Why are India’s economic stakes high in West Asia?
2 years, 9 months ago

Explained | Why are India’s economic stakes high in West Asia?

The Hindu  

The story so far: The diplomatic fallout from the provocative and communally charged comments made by two erstwhile spokespersons of the ruling Bharatiya Janata Party, forced the government into firefighting mode earlier this month after several West Asian nations including Qatar, Kuwait, Iran, Bahrain, Oman, Iraq, Saudi Arabia and the UAE as well as the 57-nation Organisation of Islamic Cooperation …

Why are Gulf countries significant to India
2 years, 9 months ago

Why are Gulf countries significant to India

Live Mint  

India is facing a major diplomatic outrage from several Arab countries after two BJP spokespersons made derogatory references to the Prophet Muhammad in their recent statements. During this period, India’s imports from Saudi Arabia reached US $26.84 billion and exports to Saudi Arabia were worth US$ 6.25 billion registering an increase of 12.18% over last year. of India Indian Investments …

Nupur Sharma's suspension: What next for India-West Asia relations?
2 years, 9 months ago

Nupur Sharma's suspension: What next for India-West Asia relations?

India Today  

On Sunday, the ruling BJP suspended its spokesperson Nupur Sharma for her remarks on Prophet Muhammad. India's business with the Gulf Cooperation Council, which includes Kuwait, Qatar, Saudi Arabia, and the UAE, stood at $87 billion in 2020-21. The strategically critical region, frequently visited by Prime Minister Narendra Modi, is also the top source of India's energy imports. Sheikh Mohamed …

Why backlash from West Asian nations matters for India
2 years, 9 months ago

Why backlash from West Asian nations matters for India

Live Mint  

India’s ruling party was thrown into prompt damage control mode over the weekend as key West Asian trading partners summoned the country’s diplomatic envoys following alleged Islamophobic remarks by a party spokesperson during a TV debate. In 2021-22, India recorded a total trade of about $189 billion with seven Gulf countries—Saudi Arabia, United Arab Emirates, Oman, Qatar, Bahrain, Kuwait and …

Why India is in damage-control mode with Arab nations
2 years, 9 months ago

Why India is in damage-control mode with Arab nations

CNN  

Editor’s Note: A version of this story first appeared in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. “Modi has tried very hard to prevent his party’s domestic political agenda from spilling over and poisoning India’s relations with the Gulf states,” said Hasan Alhasan, a Bahrain-based fellow at the International Institute for Strategic …

India's oil Imports from the US set to increase by 11%
3 years ago

India's oil Imports from the US set to increase by 11%

Op India  

Surrounded by Western criticism of India over the purchase of crude oil from Russia amidst its ongoing invasion of Ukraine, reports have now suggested that Indian oil imports from the US are set to rise by 11% this year. And at the same time, the same countries criticise India for importing Russian oil, despite that fact that Russia’s share India’s …

India's brush with FTAs, in five charts
3 years ago

India's brush with FTAs, in five charts

Live Mint  

Last month, India and the United Arab Emirates signed a comprehensive economic partnership agreement, which comprises a free trade agreement. The experience with four previous FTAs shows that following a relaxation in tariffs, India’s imports have generally risen at a faster pace than exports to the respective trading partners. This insight becomes pertinent as the UAE is India’s third-largest trade …

UAE, India look to double trade to at least $100B over five years
3 years, 6 months ago

UAE, India look to double trade to at least $100B over five years

Al Jazeera  

The United Arab Emirates is trying to burnish its credentials as a global hub for business and finance in the face of growing regional competition from Saudi Arabia. The two governments are set to start talks on an economic pact aimed at boosting business, investment and jobs, UAE Minister of State for Foreign Trade Thani Al Zeyoudi said on a …

India’s June oil imports hit their lowest in nine months
3 years, 8 months ago

India’s June oil imports hit their lowest in nine months

The Hindu  

India’s crude oil imports in June fell to their lowest in nine months, as refiners curtailed purchases amid higher fuel inventories due to low consumption and renewed COVID-19 lockdowns in the previous two months. The world’s third-biggest oil importer and consumer, India shipped in about 3.9 million barrels per day of crude last month, about 7% down from May, but …

Eyeing US crude, India plans to buy less oil from Middle East
4 years ago

Eyeing US crude, India plans to buy less oil from Middle East

Al Jazeera  

Indian state-run refiners including Indian Oil Corp, the country’s biggest crude processor, are planning to cut purchases from Saudi Arabia in May and buy more from the US and on the spot market, officials said. Indian refiners plan to buy less oil from the Middle East in the coming months as OPEC+’s supply restrictions makes U.S. crude more attractive. Strong …

US overtakes Saudi Arabia to become India's second largest oil supplier
4 years ago

US overtakes Saudi Arabia to become India's second largest oil supplier

Hindustan Times  

The United States overtook Saudi Arabia as India's second biggest oil supplier last month, as refiners boosted cheaper U.S. crude purchases to record levels and to offset supply cuts from the Organization of the Petroleum Exporting Countries and its allies, data from trade sources showed. In contrast, February imports from Saudi Arabia fell by 42% from the previous month to …

UAE stands with India and Indian expatriates
4 years, 9 months ago

UAE stands with India and Indian expatriates

Hindustan Times  

Of the more than 200 nationalities that form the diverse and tolerant society we cherish in the United Arab Emirates, it is difficult to think of a single expatriate community that has contributed more to building the fabric of our nation than people from India. Last year, AED 169 billion in remittances flowed out of UAE — more than half …

Across the gulf: The Hindu Editorial on stranded Indian workers
4 years, 11 months ago

Across the gulf: The Hindu Editorial on stranded Indian workers

The Hindu  

Around eight million people in the Gulf Cooperation Council countries constitute a unique cohort among Indian diaspora communities around the world. Prime Minister Narendra Modi has nurtured good relations with all rulers of the region but the ongoing crisis is testing the endurance of India’s ties with some of the GCC countries. The UAE government has said it might revise …

India’s import of US oil jumps 10-fold to 2,50,000 bpd, says US Energy Secy
5 years, 1 month ago

India’s import of US oil jumps 10-fold to 2,50,000 bpd, says US Energy Secy

Hindustan Times  

US oil supplies to India have jumped ten-fold to 2,50,000 barrels per day in the last few years, visiting US Energy Secretary Dan Brouillette said on Tuesday. Speaking at a business meeting alongside US President Donald Trump, US Energy Secretary Dan Brouillette said Indian imports of US oil were 25,000 bpd a couple of year ago, and have now risen …

India’s import of US oil have jumped 10-fold in last few years: US Energy Secretary
5 years, 1 month ago

India’s import of US oil have jumped 10-fold in last few years: US Energy Secretary

Live Mint  

US oil supplies to India have jumped ten-fold to 2,50,000 barrels per day in the last few years, visiting US Energy Secretary Dan Brouillette said on Tuesday. India began importing crude oil from the US in 2017 as it looked to diversify its import basket beyond the OPEC nations. In the first six months of current fiscal, US supplied 5.4 …

Saudi Arabia to regain India's top oil supplier spot after Reliance Industries-Aramco deal
5 years, 7 months ago

Saudi Arabia to regain India's top oil supplier spot after Reliance Industries-Aramco deal

Firstpost  

The O2C business includes Reliance’s refining and petrochemical divisions, and its 51% stake in its fuel marketing business. Saudi Arabian Oil Co buying a 20 percent stake in Reliance Industries Ltd’s oil-to-chemical business will help it regain the position of being the biggest supplier of oil to the world’s fastest-growing oil market. This will change with Aramco buying 20 percent …

Saudi Aramco offers to increase oil supply to India
5 years, 10 months ago

Saudi Aramco offers to increase oil supply to India

Live Mint  

New Delhi: The world's largest oil company Aramco will provide additional crude oil to domestic oil refiners to meet shortages arising from the US decision to lift Iran sanction waivers from major oil importing countries, including India. Sources in state-run oil companies said that the Saudi Arabian oil giant has offered to increase crude oil supplies to India by 200,000 …

Iraq remains top oil supplier to India
5 years, 10 months ago

Iraq remains top oil supplier to India

The Hindu  

Iraq has, for the second year in a row, become India’s top crude oil supplier, meeting more than a fifth of the country’s oil needs in 2018-19 fiscal year. India provisionally imported 207.3 mt of crude oil in 2018-19, down from 220.4 mt in the previous financial year. While India stopped importing crude oil from Iran following reimposition of economic …

India explores for crude oil on sweeter terms after end of Iran oil waiver
5 years, 11 months ago

India explores for crude oil on sweeter terms after end of Iran oil waiver

Live Mint  

New Delhi: India is trying to leverage its robust ties with West Asian crude oil producers such as Saudi Arabia, Kuwait and the United Arab Emirates to source additional volumes at terms similar to those of its annual contracts in a bid to avert any sharp rise in its domestic oil prices. The new contracts could not be signed because …

How India’s oil economy changed under Modi regime
5 years, 11 months ago

How India’s oil economy changed under Modi regime

Live Mint  

With the US announcing to withdraw waivers granted to eight economies including India to buy crude oil from Iran beginning early May, over-dependence on oil imports in the third largest consumer of oil has again come to limelight. During the first year in office of prime minister Narendra Modi in 2014-15, India used to import a majority of its total …

Opinion | US sanctions and the end of cheap oil
5 years, 11 months ago

Opinion | US sanctions and the end of cheap oil

Live Mint  

The end of India’s temporary reprieve on oil imports from Iran is nigh, as US sanctions on the Islamic Republic for its nuclear programme come into full effect on 2 May. The Organization of the Petroleum Exporting Countries, the oil cartel which accounts for about 40% of global production, has demonstrated an ability to enforce supply cuts among its members …

Indian firms to explore investment opportunities in $500-bn Saudi infra projects; receive over 400 licences
6 years, 4 months ago

Indian firms to explore investment opportunities in $500-bn Saudi infra projects; receive over 400 licences

Firstpost  

The projects are part of Saudi Kingdom’s initiative to expand their economy via major structural changes and developing mega projects, new roads and railroads, airports, sea ports and tourism. New Delhi: An Indian delegation of top company representatives from the infrastructure, housing and allied sectors, as well as the entertainment industry, will be on a two-day visit to Saudi Arabia …

Saudi Arabia to supply extra oil cargoes to India in November to make up for US sanctions on Iran
6 years, 5 months ago

Saudi Arabia to supply extra oil cargoes to India in November to make up for US sanctions on Iran

Firstpost  

One of the reasons for the additional demand of oil from Saudi Arabia is that the crude arbitrage from the US is shut. Singapore: Saudi Arabia, the world’s biggest oil exporter, will supply Indian buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said on Wednesday. The extra cargoes indicate a …

Iraq replaces Saudi Arab as top oil supplier to India in August; Iran remains third-biggest seller despite heavy cuts
6 years, 6 months ago

Iraq replaces Saudi Arab as top oil supplier to India in August; Iran remains third-biggest seller despite heavy cuts

Firstpost  

Imports of Iranian oil by India, Tehran’s top oil client after China, fell by about a third to about 523,000 bpd in August from July New Delhi: Iraq replaced Saudi Arabia in August as the top oil supplier to India, data from industry and shipping sources showed, as refiners turned to Iraqi barrels to compensate for a lower intake of …

Kerala’s remittance economy showing signs of slowdown
6 years, 7 months ago

Kerala’s remittance economy showing signs of slowdown

Live Mint  

India is world’s top destination for inward remittances, getting over $68.96 billion, or 11% of total global remittances in 2017. Barring the US, which accounts for a fifth of remittances, all the top source countries are based in the Middle East, the most preferred employment destination for migrants from Kerala. Surveys by the Centre for Development Studies, Thiruvananthapuram, show that …

Remittance to India from the Gulf shrinks
7 years, 4 months ago

Remittance to India from the Gulf shrinks

Deccan Chronicle  

Hyderabad: Remittances to India from the Gulf countries is declining by the year. However, a report of the Reserve Bank of India says there was a 12 per cent drop in 2016-17, with '3.66 lakh crore coming in compared to Rs 4.38 lakh crore in the previous fiscal year. Kerala accounts for 36 per cent of the remittances received from …

Gulf diplomatic crisis: MEA says local authorities assure support for welfare of Indians
7 years, 9 months ago

Gulf diplomatic crisis: MEA says local authorities assure support for welfare of Indians

Firstpost  

India said it is closely monitoring the situation in West Asia and that the countries have assured continued support for the welfare of the Indian diaspora New Delhi: India on Saturday said it is closely monitoring the situation in West Asia where several countries led by Saudi Arabia have cut off diplomatic ties with Qatar, and that the countries have …

Worry for Indians residing in Qatar intensifies: Goa MP Naik writes to Sushma Swaraj
7 years, 9 months ago

Worry for Indians residing in Qatar intensifies: Goa MP Naik writes to Sushma Swaraj

Deccan Chronicle  

Panaji: Rajya Sabha MP Shantaram Naik has asked Union External Affairs Minister Sushma Swaraj to protect the interests of Indians in Qatar. "Around 6,50,000 Indians, including 10,000 Goans are living and doing business in Qatar, who according to a report, outnumber native Qataris by almost 2:1 ratio, their interest should be protected," Naik said in an email to Swaraj this …

India ranks third after Mexico, China in remittances from US, claims research
8 years, 6 months ago

India ranks third after Mexico, China in remittances from US, claims research

India TV News  

India has been ranked third after Mexico and China in remittances from US. Mexico tops the list as it received $24 billion dollars while China got remittances of $16 billion from the United States, Pew Research Centre said in its latest report. Interestingly Pew Research Centre said in the year 2015, about $ 8.4 billion in remittances was sent from …

India's oil imports from Iran hit eight-month low
9 years, 3 months ago

India's oil imports from Iran hit eight-month low

Firstpost  

India’s January-November imports from Iran shrank by about a quarter to 206,000 bpd, dragged down by deep cuts in shipments by New Delhi in the first quarter of 2015 under pressure from the United States to keep its imports within the limits of sanctions. India’s oil imports from Iran fell for the fourth straight month in November to touch an …

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