Indian economic stakes are high in West Asia and hence India needs a balanced West Asia policy. Examine the statement.
India’s cultural, economic and trade ties with the countries of the West Asian region are deep and abiding. Starting with maritime trade, the exchange of goods, services and cultures between the people of the Gulf region including those on the western shores of the Arabian Sea reaches back several millennia and significantly predates even the foundation of the Islamic faith.
Importance of Gulf region for India
- Out of India’s total imports of crude oil, the share of the Gulf countries has remained fairly steady at about 60% over the last 15 years.
- West Asia collectively accounts for well over a sixth of India’s total bilateral merchandise trade and contributes about three fifths of India’s crude oil supplies.
- The West Asian region provides among the largest number of overseas jobs for Indians, with nearly 89 lakh Indians living and working in the Gulf economies.
Need for balanced West Asia policy
- National interest - Keeping good relationship with West Asia is key for India’s energy security as well as economic growth. India also has deep cultural ties with West Asia.
- Ambitions - West Asia is critical for India’s global ambitious. India has already earned goodwill among West Asian countries for its neutral stand.
Thus, West Asia has a major role to play in India’s growth. Efforts have to be made to strengthen bilateral as well as multilateral ties.
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