With PM Modi and the Crown Prince of Abu Dhabi, Mohamed bin Zayed. (file photo)
Gulf countries contribute 55 percent of the billions of dollars remittances that India receives. Apart from this, India also buys 60 percent of its crude oil from Gulf countries. There is also a very large scale trade between the two countries.
BJP spokesperson on Mohammad Prophet Nupur Sharma ,Nupur SharmaAfter the statement of ) there is a ruckus. Initially there was no big uproar over this statement. Later, the Gulf countries objected to this, after which the BJP swung into action. Nupur Sharma and media in-charge Naveen Jindal were thrown out of the party. Now a question is arising in everyone’s mind that what is the matter that BJP took such strong action after the objection of Gulf countries. Relations between India and Gulf countries are very strong. This relationship is economic as well as cultural. Millions of people of India do jobs and business in Gulf countries and send remittances worth billions of dollars to India every year. India imports 85 per cent of its oil requirement and the majority of it comes from Gulf countries.
According to a report published in the Economic Times, the United Arab Emirates, also known as Dubai, has one-third of the population of Indians. There are about 89 lakh Indian citizens in the Gulf countries. There are many countries in the Gulf. 34.6 percent of the population is Indian in UAE, 7.5 percent of the population in Saudi Arabia, 24.1 percent of Indians in Kuwait, 15.3% of Indians in Oman, 25.9 percent of Indians in Qatar, 0.2 percent of Indians in Bahrain, 0.04 percent of Indians in Jordan There are 0.10 percent Indians in Lebanon.
India exports on a large scale
Many big restaurants and retail stores in Gulf countries are owned by Indians. If the people there boycott Indian stores in protest, then Indians will suffer a lot. Apart from this, India also exports to the Gulf countries on a very large scale. In the financial year 2019-20, India’s total exports were 9.2 percent to UAE, 2 percent to Saudi Arabia, 0.70 percent to Oman, 0.60 percent to Iraq, 0.40 percent to Kuwait, 0.4 percent to Qatar, 0.3 percent to Jordan, Bahrain 0.2 percent was exported to and 0.1 percent to Lebanon.
UAE is India’s third largest trade partner
Dubai ie United Arab Emirates is the third largest trading partner of India. After America, India exports the most to Gulf countries. It is also the third largest trade partner of India. The bilateral trade of India and UAE stood at $72.9 billion in the financial year 2021-22, in which India exported a total of $28.4 billion. Under the Free Trade Agreement, this trade is projected to reach $100 billion by 2026.
Gulf countries also import a lot from India
Gulf countries import food and drink on a large scale from India. 85 percent of the food is imported from India, while 93 percent of the food grains are procured from India. India exports rice, buffalo meat, spices, fruits, vegetables and sugar there on a large scale.
55 percent contribution in remittances to India
UAE contributes 26.9 per cent to India’s remittances, Saudi Arabia 11.6 per cent, Qatar 6.5 per cent, Kuwait 5.5 per cent and Oman 3 per cent. India gets about 55 per cent remittances from these five countries.
60% of the oil needed is imported from Gulf countries
India imports oil on a large scale from Gulf countries. According to the report of the World Bank, Reserve Bank and Ministry of External Affairs, in the year 2019, India has 22 percent from Iraq, 19 percent from Saudi Arabia, 9 percent from UAE, 8 percent from Nigeria, 7 percent from Venezuela, 5 percent from Kuwait, America 4 percent from Mexico, 4 percent from Mexico and 2 percent from Iran. The contribution of Gulf countries alone is close to 60 per cent. Petroleum Minister Hardeep Singh Puri had said in the House in March 2022 that India requires 5 million barrels of oil on a daily basis. In this, 60 percent of the requirement is done from the Gulf countries.