India and Arab Nations Aim for $500 Billion Trade Partnership by 2046
India and Arab countries target a $500 billion trade partnership by 2046, driven by new investment opportunities and upcoming business conclave.
Mumbai, October 14 (Daily Kiran) : The Secretary General of the India-Arab Commerce, Industry and Agriculture Chamber (IACCI), Wail Awad, announced on October 14 that trade between India and Arab nations, currently exceeding $150 billion, is expected to reach $500 billion within the next 10 to 20 years.
In an interview, Awad revealed plans for the “India Arab Business Conclave 2026,” scheduled for December 18-19 in Delhi. This event will welcome representatives from 22 Arab countries, providing an excellent opportunity to enhance trade relations.
Awad emphasized the potential for growth, noting that the Indian government is opening various sectors to foreign investment. He believes that many Arab investors are eager to make substantial investments in India. With the right platforms and incentives from the Indian government, he is confident that this initiative will be successful.
The conclave is particularly timely, as Arab economies face significant challenges and are actively seeking new partnerships. The International Monetary Fund (IMF) recently reported that ongoing conflicts in the Middle East and disruptions in the Strait of Hormuz could lead to an economic contraction in the region in 2026. According to the IMF’s October 2026 World Economic Outlook, economic growth in the Middle East and Central Asia may drop from 3.7% in 2025 to -0.3% in 2026, though a rebound to 6.3% is projected for 2027.
The report indicates that smaller Gulf oil producers will be most affected, with economies like Kuwait, Iraq, Qatar, and Bahrain expected to contract significantly. Despite these challenges, the IMF anticipates a robust recovery in these countries by 2027, with projected growth rates of 19% for Iraq, 18.8% for Qatar, 17.1% for Kuwait, and 13.9% for Bahrain.
