India-West Asia Economic Linkages
India and the Gulf Cooperation Council (GCC) countries — Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman — share deep economic ties. GCC nations account for over 13% of India's exports and more than 16% of its imports (primarily crude oil). Indian remittances from the Gulf: approximately $40-45 billion annually, making the Gulf the single largest source of India's inward remittances. The India-UAE Comprehensive Economic Partnership Agreement (CEPA), signed in 2022, targets bilateral trade of $100 billion by 2027.
- ~9 million Indian diaspora live in GCC countries — the largest diaspora group in most Gulf nations.
- India imports ~85% of its crude oil; a significant portion comes from Gulf producers (Saudi Arabia, UAE, Iraq).
- IMEC (India-Middle East-Europe Economic Corridor), announced at G20 New Delhi Summit 2023, aims to create a rail-and-port trade corridor linking India, UAE, Saudi Arabia, Jordan, Israel, and Europe.
- West Asia conflict risks: SBI Research warns that prolonged instability could spike oil prices, widen India's current account deficit, slow remittances, and disrupt Indian labour migration to the Gulf.
● Tracked since March 10, 2026 · last seen April 14, 2026 · updates as the daily brief publishes
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