His Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), emphasised the deep-rooted historical ties and strategic partnerships between the GCC states and India across various sectors, stating that both sides constantly strive to strengthen these partnerships.
Speaking at the Kochi Dialogue 2025, themed "India's Look West Policy in Action: People, Prosperity and Progress" today, Thursday, January 16, 2025, His Excellency the GCC Secretary General highlighted the event's significance in fostering cooperation between the India and the GCC.
He described the dialogue as a real opportunity and valuable platform for exploring mutually beneficial areas of collaboration, facilitating exchange between policymakers, diplomats, researchers, thinkers, and public and private sector investors.
He stressed the crucial role of the strategic partnership between the GCC and India in key areas such as trade, energy, technology, and education, in achieving economic stability, regional prosperity, and collaborative efforts to address global economic challenges like climate change and food security. Moreover, His Excellency emphasised that joint GCC-India efforts will be fundamental to achieving sustainable economic and social development.
He further detailed the long-standing historical relationship between the Gulf and India, dating back centuries. He noted India's importance as a vital trading partner for the Gulf region since the 18th century, particularly in trade, culture, and education, with Bombay (now Mumbai) serving as a major economic hub for Gulf traders.
His Excellency Mr Albudaiwi also acknowledged the strong human and cultural ties, and the contributions of prominent Gulf figures to educational and charitable institutions in India, further strengthening cultural bonds.
Looking ahead, His Excellency highlighted key areas for future focus, including collaboration in technology and innovation within the context of the Fourth Industrial Revolution.
He underscored the importance of cooperation in artificial intelligence, fintech, and renewable energy for sustainable development. He also stressed the need to prioritise combating climate change and enhancing food security, advocating for the development of sustainable food supply chains and new technologies for water resource management.
He also addressed the ongoing free trade negotiations between the GCC and India, underscoring the importance of accelerating these talks to remove trade barriers, open new markets, and enhance cooperation in digital economies and industrial transformation.
On the economic front, he noted the significant growth in trade relations between the GCC and India in recent years.
"Bilateral trade reached approximately $174.2 billion in 2022, representing about 11.3% of the GCC's total trade. GCC exports to India totaled around $90.8 billion, reflecting India's importance as a key trading partner," he highlighted.
His Excellency also pointed out that Gulf investments in India have exceeded $5.72 billion, contributing significantly to economic development and growth in both regions, creating jobs and stimulating economic growth, making India a vital strategic partner for the GCC.
In conclusion, His Excellency Mr Albudaiwi expressed optimism about the future of GCC-India relations, emphasising that these ties, built on a long history of collaboration, are now focused on addressing global challenges requiring the highest levels of cooperation and harmony among nations.
