There is not even a speck of doubt that Narendra Modi is by far the best Prime Minister India has ever had when it comes to maintaining ties with other countries. Narendra Modi has by far visited various countries in order to mend the ties and facilitate cross border trade. But it is speculated that he will visit the UAE by the end of this august. If this happens, then an Indian Prime Minister would be visiting gulf countries after 34 years. And as per Taher Suterwalla, this will enhance the trade relations between the two parties.
Trade relations between India and gulf countries are already good. India received FDI $3bn from the UAE and instead, gulf nations received an FDI of Dhs 7.8bn. In fact, UAE is actually the third largest trading partner for India, preceded by China and US. And a visit by Narendra Modi will lead to strengthening of the ties. The analysts have expressed skepticism over this meeting citing India’s closeness with Israel as a reason. But Taher Suterwalla is hopeful that the visit will open up new business avenues as India and UAE, both are capable of sidelining political allegiance and focus on business.
Dubai and Abu Dhabi have been much in news quite recently. This is primarily due to the growth in realty sector in spite of oil price crunch. This is a clear indication that the economy in gulf is carefully hedged against such upheavals. Now with the Indian Prime Minister shifting the focus towards gulf, GCC can expect its economy to get a further fillip.