The resident population of Indians in the Arab countries has reached nine million, said Union MoS for external affairs V Muraleedharan.
At the sixth India-Arab partnership conference held in New Delhi on July 19, the minister said that India’s trade with Arab countries has crossed USD 240 billion.
The meeting was the outcome of a memorandum of cooperation between the Arab League and India, which was initially signed in December 2008 and has since been periodically renewed.
India-Arab relations, according to Muraleedharan, have stood the test of time. Trade between India and the Arab world grew despite the recent pandemic and international geopolitical crises.
“The region caters to about 60 percent of India’s crude oil imports from the Arab nations and more than 50 percent of fertilisers and related products, making our partnership robust and indispensable,” he said.
He claimed that throughout many generations, India’s expatriate population in the Arab world has contributed to the property of countries of their residence.
The theme of this year’s conference was “New Horizons in Investment, Trade and Services.” it was organised by the Indian ministry of external affairs and the general secretariat of the Arab League.