India sees Arab world as gateway to Europe, Africa, Latin America: Minister

India views the Arab countries as strategic hubs to extend its economic outreach to Europe, Africa and Latin America, Minister of State for External Affairs Kirti Vardhan Singh said on Friday.

India views the Arab countries as strategic hubs to extend its economic outreach to Europe, Africa and Latin America, Minister of State for External Affairs Kirti Vardhan Singh said on Friday. He said this while inaugurating the India-Arab Chamber of Commerce, Industry and Agriculture here. ''It is not only the bilateral trade that we are talking about, or not only the regional trade between India and Arab nations, but we are also looking at the Arab countries as a hub to further expand into Europe, to further expand into Africa, and also up to Latin America,'' the minister said, a day ahead of the second India-Arab League meeting. The minister underlined that the trade between India and the Arab world defied geopolitical tensions and touched approximately USD 240 billion in FY 2024-25. Arab countries supply nearly 60 per cent of India's crude oil imports and more than 50 per cent of its fertiliser needs. Indian investments in the region stand at around USD 40 billion, spurring job creation, local economic value addition and export promotion, while the more-than-90-lakh-strong Indian diaspora serves as a vital people-to-people bridge. Recalling ancient trade links, Singh highlighted historic routes that exchanged Arabian frankincense and myrrh for Indian spices, precious stones, pearls, ebony, silk and textiles. ''What began millennia ago continues to this day,'' he said, describing the Arab League nations as part of India's extended neighbourhood. The chamber is poised to facilitate business matchmaking, policy dialogues and joint ventures across sectors like energy, agriculture, manufacturing, technology and infrastructure, leveraging Arab markets' strategic gateways to global opportunities. On the Union Budget to be presented on Sunday, Singh said it would prioritise India's aspirations, with a focus on its youngsters, skilled workforce, manufacturing firms and micro, small and medium enterprises.

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