Federation of Gulf Chambers to Organize 5th Conference

Federation of GCC Chambers, in collaboration with the Confederation of Indian Industries (CII) and with the support of the General Secretariat of the Cooperation Council for the Arab States of the Gulf and the Indian Ministry of Commerce, will organize on the 22nd of next November – remotely – the fifth conference of Gulf business owners and their counterparts from India, under the title “Stronger Partners, in a world of opportunity.”

The two-day conference – hosted by the Republic of India, in its fifth edition – aims to strengthen and develop economic and trade relations between the GCC countries and the Republic of India and to highlight the promising investment opportunities in the two sides, and will focus on the priority sectors for both sides such as agriculture, food security, infrastructure, and energy.

The fourth industrial revolution, health care and other promising sectors, too.

The forum will discuss several axes and topics, most notably sustainable energy security, through multilateral partnerships, cross-border commercial partnerships to provide documented and comprehensive health care, empowering startups to become leaders, in change, the role of digitization in empowering citizens, in addition to the emerging economic power, in India and the GCC region.

Head of the Federation of GCC Chambers, Samir Abdullah Nass, indicated that the GCC countries are currently the first trading partner of India, as a result of its growing dependence on energy imports, and its increasing exports to the Gulf markets, as the volume of foreign trade between them reached $115 billion, in 2020-2021.

Including $28 billion for Indian exports to the GCC countries, and $87 billion for Gulf exports to India, indicating that the Republic of India comes third on the list of major importers from the GCC countries, with a share of 12.1% and third on the list of major exporters to the GCC countries, with a share of 8.6%.

In addition to the huge investment projects, especially, in energy, petroleum and technology.

He noted that the Republic of India is one of the main food exporters to the GCC countries, especially rice, grains, meat, fruits and vegetables, textile products, iron and steel, machinery and electrical equipment, and other mechanical devices, in addition to the presence of hundreds of Indian companies, operating in the Gulf markets, in the field of construction, technology, retail trade and hospitality.

The Gulf region is also a major destination for Indian products, as the GCC markets received about 16% of the total Indian exports in 2018.
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It is noteworthy that the Federation of Gulf Chambers organized the Forum of Gulf Business Owners and their counterparts from the Republic of India for the past four decades, with the aim of enhancing ways of cooperation between them, by intensifying visits by business owners, offering investment opportunities and overcoming obstacles that prevent the realization of ambitions.

As well as to supporting training and technical programs and encouraging exports and establishing many among the joint activities and functions between the Gulf Cooperation Council countries on one hand and the Republic of India, on the other.