India has increased its attractiveness as a destination for FDI including Sovereign Wealth Funds


It has been reported that India and the Gulf Cooperation Council on Wednesday agreed on the need for further securing supply chains, including in the areas of energy security, food security and health care.

India on its part has pitched its attractiveness as a destination for FDI, including for sovereign wealth funds in GCC countries.

These were key issues on agenda when External Affairs Minister, Dr. S. Jaishankar held talks with Dr. Nayef Falah Mubarak Al-Hajraf, Secretary General of the Gulf Cooperation Council (GCC) here. GCC Secretary General is on his first official visit to India on November 10-11.

India GCC Cooperation

They undertook a detailed review of the India-GCC relations and discussed ways to further enhance them. GCC Secretary General lauded the contribution of the Indian community to the Gulf countries and said that GCC wants to be a partner of India in its economic growth.

Jaishankar also apprised the Secretary General of the progress made by India in its vaccination programme. Both leaders expressed satisfaction at India-GCC cooperation in handling the unprecedented challenges posed by the pandemic.

The Indian side hoped for further easing of restrictions by GCC countries on air travel from India and mutual recognition of vaccination certificates.

Both leaders also discussed trade and investment relations between India and GCC. They expressed satisfaction that essential trade between India and GCC continued even during the Covid lockdowns.

EAM and GCC Troika

Both sides decided to convene the next India-GCC Troika Political Dialogue at an early date. The last round of the Dialogue was held virtually in November 2020.

Both sides also agreed to further institutionalize the annual meetings between EAM and GCC Troika by signing an MOU in the coming months.

Dr. Nayef Falah Mubarak Al-Hajraf will also hold discussions with Minister of Commerce and Industry, Piyush Goyal on November 11. (The Economic Times)