External affairs minister S. Jaishankar has arrived in Saudi Arabia to attend the inaugural India-Gulf cooperation council foreign ministers' meeting. This significant gathering includes representatives from Saudi Arabia, the United Arab emirates, Bahrain, Qatar, Kuwait, and Oman.

S. Jaishankar in Riyadh for first India-Gulf Foreign Ministers' meeting

For decades, the relationship between India and the Gulf has been defined by oil. However, for firmer influence, the country is ready to its&nbsp;interests in West Asia beyond oil and&nbsp;gas.

India imports 53 per cent&nbsp;of its oil and 41 per cent of its gas from West Asia and over 8.5 million Indians work in the region.

In 2018, India's total remittances was around 78.6 billion dollars. Out of this,&nbsp;48.6 billion dollars had come from the 6 Gulf Cooperation Council countries (GCC).

Also read:&nbsp;<a href="https://www.wionews.com/india-news/how-a-structural-shift-in-west-asia-has-opened-up-opportunities-for-india-345388" hreflang="en">How a structural shift in West Asia has opened up opportunities for India</a>

While these numbers are big, India's ties with West Asia cannot be anchored on oil and diaspora alone. And because of the coronavirus pandemic it&nbsp;is the perfect opportunity to tap&nbsp;avenues and newer opportunities.

The pandemic has triggered a lot of turbulence in this region.&nbsp;While new alliances are being built&nbsp;Gulf nations are looking within too.

As per an estimate,&nbsp;Arab states of the Gulf could have a deficit of about 490 billion dollars between 2020 and 2023. Their government debt could surge&nbsp;by a record 100 billion this year.

Sovereign wealth funds

India should invest in&nbsp;sovereign wealth funds, which are worth billions. In such an investment&nbsp;government invests its surplus reserves in the country and outside.

The Abu Dhabi investment authority is worth 579.6 billion dollars and the Kuwait investment authority- 533.6 billion dollars.

While&nbsp;West Asia has spending capacity, India on the other hand&nbsp;has investment opportunities and unmatched potential.

Saudi Arabia's 347 billion dollars sovereign wealth fund is very crucial to crown prince- Mohammad bin Salman's vision 2030.

As India eyes a 5 trillion dollar economy, it can attract sovereign wealth funds in several just growing companies-- across sectors&nbsp;

India can expand its cooperation with West Asia with trade.&nbsp;The total bilateral trade between India and the GCC&nbsp;stood at 121.34 billion dollars in 2018-19.

At 60 billion dollars, the United Arab Emirates was India's third-biggest trade partner in the year 2018-19.

Saudi Arabia was the fourth biggest trade partner with bilateral trade amounting to 34.03 billion dollars.

Energy trade

Energy trade&nbsp;is&nbsp;the anchor of India-West Asia economic relations but&nbsp;the&nbsp;trade basket needs to be diversified especially due to the Wuhan virus&nbsp;and the fall in energy demands.

Goods like precious metals, food and agriculture products, chemicals, gems and jewellery, textile must all be included in the trade basket.

Sector-specific investment

Major oil companies of West Asia are already developing a strategic partnership with the Indian companies both in the public and private sector.

A 15 billion dollar deal was announced between Saudi Aramco and Reliance industry.&nbsp;India's ONGC Videsh has acquired a 10 per cent stake in offshore oil concession in Abu Dhabi.

Sebacic Oman, which is an Indo-Oman venture, is setting up West Asia largest sebacic acid plant for 1.2 billion dollars.

A senior official from India's ministry of external affairs said&nbsp;India and the Gulf can explore forging of partnerships to develop oil and gas reserves in various parts of the country.

The official named- Kutch, Cauvery basin, Mahanadi basin, and offshore locations in the bay of Bengal as possible venues for joint hydrocarbon production.

The topic of expanding cooperation came up during the discussion between India's external affairs minister- s. Jaishankar, and his counterpart in Bahrain.

They agreed to further strengthen Bahrain-India ties in the areas of defence and maritime security, space technology, trade and investment, infrastructure, it, fin-tech, health, hydrocarbon and renewable energy. 
&nbsp;

For decades, the relationship between India and the Gulf has been defined by oil. However, for firmer influence, the country is ready to its interests in West Asia beyond oil and gas.

For decades, the relationship between India and the Gulf has been defined by oil. However, for firmer influence, the country is ready to its interests in West Asia beyond oil and gas. India imports 53 per cent of its oil and 41 per cent of its gas from West Asia and over 8.5 million Indians work in the region. In 2018, India's total remittances was around 78.6 billion dollars. Out of this, 48.6 billion dollars had come from the 6 Gulf Cooperation Council countries (GCC). Also read: How a structural shift in West Asia has opened up opportunities for India While these numbers are big, India's ties with West Asia cannot be anchored on oil and diaspora alone. And because of the coronavirus pandemic it is the perfect opportunity to tap avenues and newer opportunities. The pandemic has triggered a lot of turbulence in this region. While new alliances are being built Gulf nations are looking within too. As per an estimate, Arab states of the Gulf could have a deficit of about 490 billion dollars between 2020 and 2023. Their government debt could surge by a record 100 billion this year. Sovereign wealth funds India should invest in sovereign wealth funds, which are worth billions. In such an investment government invests its surplus reserves in the country and outside. The Abu Dhabi investment authority is worth 579.6 billion dollars and the Kuwait investment authority- 533.6 billion dollars. While West Asia has spending capacity, India on the other hand has investment opportunities and unmatched potential. Saudi Arabia's 347 billion dollars sovereign wealth fund is very crucial to crown prince- Mohammad bin Salman's vision 2030. As India eyes a 5 trillion dollar economy, it can attract sovereign wealth funds in several just growing companies-- across sectors India can expand its cooperation with West Asia with trade. The total bilateral trade between India and the GCC stood at 121.34 billion dollars in 2018-19. At 60 billion dollars, the United Arab Emirates was India's third-biggest trade partner in the year 2018-19. Saudi Arabia was the fourth biggest trade partner with bilateral trade amounting to 34.03 billion dollars. Energy trade Energy trade is the anchor of India-West Asia economic relations but the trade basket needs to be diversified especially due to the Wuhan virus and the fall in energy demands. Goods like precious metals, food and agriculture products, chemicals, gems and jewellery, textile must all be included in the trade basket. Sector-specific investment Major oil companies of West Asia are already developing a strategic partnership with the Indian companies both in the public and private sector. A 15 billion dollar deal was announced between Saudi Aramco and Reliance industry. India's ONGC Videsh has acquired a 10 per cent stake in offshore oil concession in Abu Dhabi. Sebacic Oman, which is an Indo-Oman venture, is setting up West Asia largest sebacic acid plant for 1.2 billion dollars. A senior official from India's ministry of external affairs said India and the Gulf can explore forging of partnerships to develop oil and gas reserves in various parts of the country. The official named- Kutch, Cauvery basin, Mahanadi basin, and offshore locations in the bay of Bengal as possible venues for joint hydrocarbon production. The topic of expanding cooperation came up during the discussion between India's external affairs minister- s. Jaishankar, and his counterpart in Bahrain. They agreed to further strengthen Bahrain-India ties in the areas of defence and maritime security, space technology, trade and investment, infrastructure, it, fin-tech, health, hydrocarbon and renewable energy.

India’s interests in West Asia to go beyond oil, gas for firmer influence

External Affairs Minister S Jaishankar is&nbsp;visiting&nbsp;Bahrain and the United Arab Emirates on a six-day tour of West Asia.

Jaishankar's visit is crucial as it is the perfect opportunity for India to enhance its outreach with the Gulf region which is a key strategic partner of the country.

Jaishankar held talks on bilateral issues as well as regional and international issues of mutual interest with his Bahraini counterpart Abdullatif bin Rashid Al Zayani.

He also conveyed condolences on behalf of the government and people of India to the Bahraini leadership on the sad demise of Prime Minister of Bahrain Prince Khalifa bin Salman Al Khalifa on November 11.

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Discussed our historical ties and cooperation in diverse sectors. Exchanged views on regional and international issues. Thanked Bahrain for taking special care of the Indian community during COVID times.
— Dr. S. Jaishankar (@DrSJaishankar) <a href="https://twitter.com/DrSJaishankar/status/1331305960615370759?ref_src=twsrc%5Etfw">November 24, 2020</a></blockquote>
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He&nbsp;visited Gulf's oldest temple - the Shreenathji (Shree Krishna) Hindu Temple - in Bahrain built by the Thattai Hindu community which had arrived from the Sindh, undivided India.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/external-affairs-minister-jaishankar-visits-200-year-old-hindu-temple-in-bahrain-345224" hreflang="en">Foreign minister Jaishankar visits 200-year-old Hindu temple in Bahrain</a>

The 200-year-old Shree Krishna temple was built in 1817 and situated in Bahrain's capital Manama.

Jaishankar also&nbsp;interacted virtually, with members of the Indian community in Bahrain.

From Bahrain, Jaishankar will travel to UAE where he is scheduled to meet his counterpart Sheikh Abdullah bin Zayed Al Nahyan.

During his UAE trip, Jaishankar will discuss ways for Indian workers to resume their jobs in UAE in the post-COVID scenario. More than 3 million Indians live and work in the UAE, the MEA had said in a statement before the commencement of the minister's journey.

In the last leg of his tour, the external affairs minister will travel to Seychelles on November 27 and 28.

In Seychelles, Jaishankar will call-on the newly elected President, Wavel Ramkalawan, to present greetings of Prime Minister Modi and will discuss with him the priorities of the new government and avenues for further strengthening of bilateral relations, the MEA said.

Jaishankar will also hold bilateral consultations with the newly appointed Minister for Foreign Affairs and Tourism Sylvestre Radegonde, it said.&nbsp;

Why is India reaching out to its Gulf partners right now?

India's regional influence is growing. It&nbsp;no longer wants to look at the Gulf&nbsp;just as a source of oil but also as a key strategic partner.

The visit is seen as important as it comes in the midst of the coronavirus pandemic.

The pandemic has triggered a lot of turbulence in this region.&nbsp;While new alliances are being built&nbsp;Gulf nations are looking within too.

As per an estimate,&nbsp;Arab states of the gulf could have a deficit of about 490 billion dollars between 2020 and 2023. Their government debt could surge&nbsp;by a record 100 billion this year.

Proposals are being floated around&nbsp;that could limit the entry of foreign workers. India&nbsp;urged the Gulf countries to facilitate the return of Indian workers and professionals who are now eager to resume their work following the easing of coronavirus-related restrictions.

The gulf is diversifying by&nbsp;making big-ticket investments to open up other sectors of the economy&nbsp;to generate income.&nbsp;India can offer many investment opportunities to the region.

Both the UAE and Bahrain have&nbsp;normalised ties with Israel, another ally for India.&nbsp;There is now an opening for all four countries&nbsp;to work together on areas of mutual interest.

Indian Prime Minister Narendra Modi&nbsp;received state honours in all four countries. His foreign policy has been to elevate&nbsp;the Gulf and the Indian Ocean as the countries strategic priorities.&nbsp;

Gulf has sided with India in against Pakistan as well. Before Jaishankar's visit, the United Arab Emirates stopped issuing new visas to citizens of 13 mostly Muslim-majority countries, including&nbsp;<a href="https://www.wionews.com/india-news/remember-abbottabad-india-slams-pakistan-for-presenting-dossier-of-lies-at-un-345189">Pakistan</a>, Iran, Syria and Somalia, according to a document issued by a state-owned business park.

&nbsp;

External Affairs Minister S Jaishankar is visiting Bahrain and the United Arab Emirates on a six-day tour of West Asia. Jaishankar's visit is crucial as it is the perfect opportunity for India to enhance its outreach with the Gulf region which is a key strategic partner of the country.

External Affairs Minister S Jaishankar is visiting Bahrain and the United Arab Emirates on a six-day tour of West Asia. Jaishankar's visit is crucial as it is the perfect opportunity for India to enhance its outreach with the Gulf region which is a key strategic partner of the country. Jaishankar held talks on bilateral issues as well as regional and international issues of mutual interest with his Bahraini counterpart Abdullatif bin Rashid Al Zayani. He also conveyed condolences on behalf of the government and people of India to the Bahraini leadership on the sad demise of Prime Minister of Bahrain Prince Khalifa bin Salman Al Khalifa on November 11. Discussed our historical ties and cooperation in diverse sectors. Exchanged views on regional and international issues. Thanked Bahrain for taking special care of the Indian community during COVID times. — Dr. S. Jaishankar (@DrSJaishankar) November 24, 2020 × He visited Gulf's oldest temple - the Shreenathji (Shree Krishna) Hindu Temple - in Bahrain built by the Thattai Hindu community which had arrived from the Sindh, undivided India. Also read: Foreign minister Jaishankar visits 200-year-old Hindu temple in Bahrain The 200-year-old Shree Krishna temple was built in 1817 and situated in Bahrain's capital Manama. Jaishankar also interacted virtually, with members of the Indian community in Bahrain. From Bahrain, Jaishankar will travel to UAE where he is scheduled to meet his counterpart Sheikh Abdullah bin Zayed Al Nahyan. During his UAE trip, Jaishankar will discuss ways for Indian workers to resume their jobs in UAE in the post-COVID scenario. More than 3 million Indians live and work in the UAE, the MEA had said in a statement before the commencement of the minister's journey. In the last leg of his tour, the external affairs minister will travel to Seychelles on November 27 and 28. In Seychelles, Jaishankar will call-on the newly elected President, Wavel Ramkalawan, to present greetings of Prime Minister Modi and will discuss with him the priorities of the new government and avenues for further strengthening of bilateral relations, the MEA said. Jaishankar will also hold bilateral consultations with the newly appointed Minister for Foreign Affairs and Tourism Sylvestre Radegonde, it said. Why is India reaching out to its Gulf partners right now? India's regional influence is growing. It no longer wants to look at the Gulf just as a source of oil but also as a key strategic partner. The visit is seen as important as it comes in the midst of the coronavirus pandemic. The pandemic has triggered a lot of turbulence in this region. While new alliances are being built Gulf nations are looking within too. As per an estimate, Arab states of the gulf could have a deficit of about 490 billion dollars between 2020 and 2023. Their government debt could surge by a record 100 billion this year. Proposals are being floated around that could limit the entry of foreign workers. India urged the Gulf countries to facilitate the return of Indian workers and professionals who are now eager to resume their work following the easing of coronavirus-related restrictions. The gulf is diversifying by making big-ticket investments to open up other sectors of the economy to generate income. India can offer many investment opportunities to the region. Both the UAE and Bahrain have normalised ties with Israel, another ally for India. There is now an opening for all four countries to work together on areas of mutual interest. Indian Prime Minister Narendra Modi received state honours in all four countries. His foreign policy has been to elevate the Gulf and the Indian Ocean as the countries strategic priorities. Gulf has sided with India in against Pakistan as well. Before Jaishankar's visit, the United Arab Emirates stopped issuing new visas to citizens of 13 mostly Muslim-majority countries, including Pakistan, Iran, Syria and Somalia, according to a document issued by a state-owned business park.

How a structural shift in West Asia has opened up opportunities for India

Expressing confidence in India-Gulf ties, the ministry of external affairs said today that it has received a request from Gulf countries for the deployment of doctors and nurses over <a href="https://www.wionews.com/india-news/coronavirus-testing-kits-from-china-being-examined-by-icmr-foreign-ministry-295876">COVID-19</a> crisis

MEA spokesperson Anurag Srivastava said: "Gulf countries value ties with India and want priority discussion with India for post-COVID-19 economic recovery. These countries are deeply committed to supporting ties with India."

He said India has "made special effort to ensure uninterrupted supply of food during Ramazan to the Gulf".

PM Modi and external affairs minister S Jaishanker have been in touch with their Gulf counterparts in the past few weeks.&nbsp;

Prime Minister Modi has had telephonic conversations with leaders of GCC countries - Saudi Arabia, UAE, Qatar, Kuwait, Bahrain and Oman - as well as with leaders of Palestine, Jordan and Eqypt.&nbsp;

EAM Jaishanker has had telephonic conversations with the foreign ministers of Saudi Arabia and Oman on April 23 and with foreign ministers of Qatar, UAE and Palestine on April 24. He had earlier spoken to foreign ministers of Bahrain, Kuwait and Algeria.

Slamming the emergence of fake tweets, as seen in the past few weeks, he said, "few tweets can't characterise India-Gulf ties".&nbsp;

Last week saw a Pakistani ID impersonating as an Omani Princess after which clarification was issued by the princess. 
&nbsp; 
Asked about the evacuation of Indians, MEA spokesperson said, "The matter is receiving the attention of the government."&nbsp;

"It is premature to spell out plans at this stage but consultation and discussion are underway," the spokesman added.

He said Indian missions are making "exceptional efforts" for the welfare of stranded Indians and have been reaching out to them in several ways including providing food.

Indian missions in countries like UAE and Saudi Arabia have tweeted asking stranded Indians to register in the event of a possible future evacuation once the lockdown is removed.

On Oman's ministry of finance issuing a circular to replace ex-pat workers with Omanis in the government sector impacting India, Mea said, "It is not a recent policy. It is not specific to India or targets India" highlighting that the government of Oman is taking "special care of Indians" during the ongoing global pandemic.

There are 7,70,000 Indians in Oman of which 6,55,000 are workers, according to the MEA. The Omani government puts the number of Indian workers in Oman at 617,730 at the end of 2019.

Expressing confidence in India-Gulf ties, the ministry of external affairs said today that it has received a request from Gulf countries for the deployment of doctors and nurses over COVID-19 crisis MEA spokesperson Anurag Srivastava said: "Gulf countries value ties with India and want priority discussion with India for post-COVID-19 economic recovery.

Expressing confidence in India-Gulf ties, the ministry of external affairs said today that it has received a request from Gulf countries for the deployment of doctors and nurses over COVID-19 crisis MEA spokesperson Anurag Srivastava said: "Gulf countries value ties with India and want priority discussion with India for post-COVID-19 economic recovery. These countries are deeply committed to supporting ties with India." He said India has "made special effort to ensure uninterrupted supply of food during Ramazan to the Gulf". PM Modi and external affairs minister S Jaishanker have been in touch with their Gulf counterparts in the past few weeks. Prime Minister Modi has had telephonic conversations with leaders of GCC countries - Saudi Arabia, UAE, Qatar, Kuwait, Bahrain and Oman - as well as with leaders of Palestine, Jordan and Eqypt. EAM Jaishanker has had telephonic conversations with the foreign ministers of Saudi Arabia and Oman on April 23 and with foreign ministers of Qatar, UAE and Palestine on April 24. He had earlier spoken to foreign ministers of Bahrain, Kuwait and Algeria. Slamming the emergence of fake tweets, as seen in the past few weeks, he said, "few tweets can't characterise India-Gulf ties". Last week saw a Pakistani ID impersonating as an Omani Princess after which clarification was issued by the princess. Asked about the evacuation of Indians, MEA spokesperson said, "The matter is receiving the attention of the government." "It is premature to spell out plans at this stage but consultation and discussion are underway," the spokesman added. He said Indian missions are making "exceptional efforts" for the welfare of stranded Indians and have been reaching out to them in several ways including providing food. Indian missions in countries like UAE and Saudi Arabia have tweeted asking stranded Indians to register in the event of a possible future evacuation once the lockdown is removed. On Oman's ministry of finance issuing a circular to replace ex-pat workers with Omanis in the government sector impacting India, Mea said, "It is not a recent policy. It is not specific to India or targets India" highlighting that the government of Oman is taking "special care of Indians" during the ongoing global pandemic. There are 7,70,000 Indians in Oman of which 6,55,000 are workers, according to the MEA. The Omani government puts the number of Indian workers in Oman at 617,730 at the end of 2019.

Gulf countries have requested for deployment of doctors over COVID-19, says MEA