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Joint Action Plan 2024-2028 was adopted at the recently held 1st ever India–Gulf Cooperation Council (GCC) Joint Ministerial Meeting for Strategic Dialogue.
Key Outcomes of the Ministerial Meeting
 About Gulf Cooperation Council (GCC)
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- Joint Action Plan 2024-2028: for undertaking various joint activities in diverse areas including health, trade, security, agriculture and food security, transportation, energy, culture, amongst others.
- More areas of cooperation can be included in the Joint Action Plan, based on mutual consensus, later on.
- 3P Framework: India affirmed framework of 3Ps—People, Prosperity and Progress to enhance partnership between India & GCC.
- Humanitarian crisis in Gaza: External Affairs Minister states that India’s position has been principled and consistent and any response must take into account the principles of humanitarian law.
India-GCC Relations
- Political: 1st India-GCC Political Dialogue was held in 2003. Currently, India has strategic partnerships with Saudi Arabia, UAE, &Oman.
- Trade & Investment: Bilateral trade stood at USD 161.59 billion in FY 2023-24.
- UAE is the 7th largest source of FDI in India.
- Diaspora: Approximately 8.9 million Indian expats (66% of NRIs) reside in GCC countries.
- Share of inward remittances from the GCC region are about 30% (2020-21).
- Energy: GCC countries contribute to 35% of India’s oil imports and 70% of gas imports.
