Huge Untapped Potential to Expand Trade Ties Between India and Gulf Region: MEA official



The Economic Times

There is a huge potential to expand economic engagement between India and the Gulf region including through diversification of the trade basket beyond hydrocarbons, a senior official of the Ministry of External Affairs (MEA) said on Wednesday.

Secretary in the MEA Sanjay Bhattacharyya, in an address at a seminar, also said both sides can explore forging of partnerships to develop oil and gas reserves in various parts of India.

“Developing the significant fields in Kutch district, Cauvery basin, Mahanadi basin, Hugli basin and offshore locations in Bay of Bengal will broaden hydrocarbon production and provide win-win solutions longer into the future,” he said.

The senior diplomat said implementation of joint projects on both sides and in third countries, stronger corporate presence, expansion of connectivity and people-to-people exchanges can add a new dimension to the already strong ties.

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