India sources near 40% of its gasoline wants from the Gulf international locations and Iran. About 90 lakh Indians reside within the area and so they account for over 55% of India’s remittance inflows
India sources near 40% of its gasoline wants from the Gulf international locations and Iran. About 90 lakh Indians reside within the area and so they account for over 55% of India’s remittance inflows
Following diplomatic backlash from all of the international locations which are a part of the Gulf Cooperation Council — Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, and Oman — and Iran, the ruling BJP suspended its spokesperson, Nupur Sharma, and the Delhi unit of the celebration expelled its media cell head, Naveen Kumar, over their remarks on Prophet Mohammad and Islam. This sturdy response was essential for the reason that Gulf international locations play an important function in 4 key areas. One, the area accounts for 16% of India’s complete imports, with the UAE and Saudi Arabia that includes amongst India’s high 5 import companions. Two, India sources near 40% of its gasoline wants from the GCC international locations and Iran. Three, about 90 lakh Indians (28% of abroad Indians) reside within the Gulf area. And 4, they account for over 55% of India’s remittance inflows.
Share in commerce
The desk lists the share of GCC international locations and Iran in India’s complete commerce, imports, and exports and their rating amongst over 200 international locations between 2017 and 2021. For occasion, the UAE accounted for 7% of India’s complete commerce and ranked third.
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Oil dependence
The desk lists the share of GCC international locations and Iran in India’s complete gasoline imports which incorporates crude oil, pure gasoline and coal between 2017 and 2021. For occasion, 14% of India’s gasoline wants have been sourced from Saudi Arabia throughout this era.
Indians within the Gulf
The desk reveals the variety of abroad Indians in GCC international locations and Iran in line with the newest knowledge revealed by the Ministry of External Affairs. About 3.4 million Indians reside within the UAE alone.
Inward remittances
The desk lists the move of remittances from the GCC international locations to India in 2017. The UAE accounts for 20% of India’s inward remittances.
Source: UN Comtrade, Pew, MEA
Also learn: Data | Behind the numbers: Perspective on the $400 billion export mark
Source: www.thehindu.com
