India’s relationship with the Gulf Cooperation Council (GCC) is a pivotal aspect of its foreign policy, driven by a blend of historical ties, economic interdependence, energy needs, and cultural connections. The region’s significance for India is underpinned by its strategic location, shared interests in regional stability, and the presence of a large Indian diaspora. With 8.9 million Indians residing in GCC countries—constituting 66% of India’s global diaspora—and bilateral trade reaching $161.59 billion in FY 2023-24, the GCC represents India’s largest regional trading partner.
Tag: Oman
Integrating Oman and Egypt into the India-Middle East-Europe Economic Corridor
As the Israel-Palestine conflict persists, the India-Middle East-Europe Economic Corridor (IMEC), announced in the backdrop of the G20 summit held in Delhi in September, 2023, remains a non-starter. The resolution of the Israel-Palestine conflict is nowhere in sight. As opposed to delaying the implementation of IMEC until the crisis is resolved, the participating nations could look at additional routes that would connect India to Europe bypassing Israel. One such route can connect India to Europe via Oman, Saudi Arabia and Egypt, while the rest of the Gulf Cooperation Council countries can be connected to the corridor via branch routes.