look news india
A very pleasant and encouraging news has emerged for India in terms of international trade and diplomatic relations. At the global level, when all the big economies are struggling with recession and supply chain constraints, on the other hand, India’s trade relations with a major strategic country of West Asia have touched new heights. According to official trade data, an unprecedented and historic jump of 140 percent has been recorded in Indian exports to this Gulf country. The biggest catalyst behind this miraculous economic progress is being considered to be the strategic visit made by Prime Minister Narendra Modi in the month of December last year, which opened new doors for bilateral trade and economic cooperation between the two countries. The impact of Prime Minister Modi’s visionary diplomacy is now visible on the ground, which has not only brought huge benefits to Indian exporters but has also strengthened India’s economic credibility on the global stage.
The willpower of the top leadership and political diplomacy play the most important role in strengthening economic partnership with any country. When Prime Minister Narendra Modi visited this West Asian country, he signed several historic agreements to increase mutual cooperation in areas ranging from energy security to agriculture, technology, defense and pharmaceuticals. After this visit of PM Modi, a special task force was formed to remove trade barriers between the two countries, simplify custom duties and speed up logistics. As a result of this, there has been a huge increase in the consignment of goods going from India within the last few months. In areas where the reach of Indian products was once limited, today ‘Made in India’ products are becoming popular in the local markets, which are being highly appreciated by the local consumers and traders.
This jump of 140 percent in exports to this West Asian country is not limited to any one sector, rather the excellent performance of many major Indian industries has been behind it. There has been a tremendous increase in demand for agricultural products, basmati rice, spices, sea foods as well as engineering goods, automobile parts, readymade garments and state-of-the-art technical services. Apart from this, Indian pharmaceuticals and pharmaceutical companies have also got great success in this market, due to which quality and affordable Indian medicines are becoming the first choice in the health sector there. Indian exporters and trade organizations say that the number of business-to-business (B2B) meetings has been increasing continuously since the Prime Minister’s visits, which has strengthened the mutual trust and communication between the business community of the two countries manifold.