4 million Indians now live and work in Arab countries. Recently, King Abdullah of , Emit of Qatar and a number of high-ups from the Middle East region visited India. Today when I saw the news item that has been invited to League of Arab States summit ((to be held in the Sudanese capital The political closeness seems to come from economies realities. Indian workers and skilled professionals are acting like the backbone of many Gulf countries while the remittance sent by 4 million workers to immensely contribute in the foreign exchange reserve. Thus, it is a win-win situation for both of them. and six Gulf Cooperation Council (GCC) countries are almost in final stage in preparing a Free Trade Agreement (FTA). Indian Commerce and Industry Minister Kamal Nath has informed that FTA may happen in early 2007. This will cause a sharp increase in the bilateral trade between India and GCC countries.
India's growing importance in Middle East shows how skilled manpower is becoming a deciding factor in the economic influence a country exert in the international scenario.
» India and EU Free Trade: How is That? from IndianRaj
It seems that Indian government is trying for free trade with too many countries. You know that India is a member of SAARC and the SAARC countries are working for having South Asian Free Trade Area (SAFTA) and the... [Read More]
Tracked on: November 30, 2007 6:34 AM | Permalink to Trackback