Regional cooperation is 'way forward' in shifting world: Kirti Singh

At the India-Arab Chamber of Commerce inauguration, MoS Kirti Vardhan Singh highlighted regional cooperation as the "way forward" amid shifting global trade. He noted the robust $240bn bilateral trade and deep ties in energy and investment.

Minister of State (MoS) for External Affairs Kirti Vardhan Singh on Friday emphasised that regional cooperation is the definitive "way forward" in an evolving global landscape, noting that older rules shaping world trade are undergoing a dynamic shift. Speaking at the inauguration ceremony of the India-Arab Chamber of Commerce, Industry & Agriculture in New Delhi, the Minister highlighted the strategic necessity of the India-Arab partnership.

"This summit underlines the fact that regional cooperation in all sectors is the way forward now. We are seeing what is happening to the older rules that help shape world trade," Singh told ANI. He further noted that with the dynamic shift in trade patterns, it is imperative for nations to recognise each other's comparative advantages and collaborate within their regions to achieve mutual growth.

A Partnership Rooted in History

Addressing a distinguished audience, including Ahmed Aboul Gheit, Secretary General of the League of Arab States, Singh invoked the philosophy of 'Vasudhaiva Kutumbakam' (the world is one family). He traced the relationship back to ancient maritime and land routes where Indian spices, silk, and technology were exchanged for Arabian frankincense and gold, noting that what began millennia ago continues to flourish today. The Minister described the Arab League nations as a vital part of India's "extended neighbourhood" and the bedrock of India's regional engagement.

Strong Bilateral Trade and Investment

The MoS provided key insights into the robustness of the bilateral relationship, noting that trade between India and the Arab world reached approximately USD 240 billion in FY 2024-25 and successfully withstood global geopolitical challenges. He highlighted that Arab nations remain indispensable partners, supplying nearly 60 per cent of India's crude oil imports and over 50 per cent of its fertiliser requirements. Furthermore, Indian companies have demonstrated their commitment to the region by investing nearly USD 40 billion, creating thousands of local jobs.

'Living Bridge': The Role of the Indian Diaspora

Singh also lauded the nine million-strong Indian diaspora residing in Arab League nations, calling them a "living bridge" that anchors the progress and prosperity of both regions.

Future Frontiers for Collaboration

Looking ahead, the Minister invited Arab nations to tap into India's massive market of 1.4 billion people and identified agriculture--specifically water conservation, drought-resistant crops, and agri-tech--as a primary frontier for collaboration.

A Unified Platform for Growth

"India has long been a trusted and steadfast friend of the Arab world. Whether during the COVID crisis or periods of regional instability, India has consistently stood with its Arab brothers," Singh concluded. He expressed confidence that the new Chamber would serve as a unified platform to deepen industrial, agricultural, and commercial ties across the Arabian Sea.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)