From 4.7 per cent in 2011 to 16.2 per cent in 2016, India’s share of total investments into the six-member Gulf Cooperation Council has raised, as per a research report.
From 0.7 per cent in 2011 to 2.95 per cent in 2016, the Gulf Cooperation Council (GCC) investments into India also continued to rise, said by a report made by ‘GCC-India Corridor Investment Opportunities and Challenges’.
The GCC was established in 1981 which is a political and economic alliance of Saudi Arabia, Kuwait, the UAE, Qatar, Bahrain, and Oman.
From USD 1.4 billion in 2011 to $2.9 billion in 2016, investments from India grew at a compound annual growth rate (CAGR) of 15.9 per cent in contrast to the overall decline in total FDI into the GCC as per the report made by Alpen Capital, an investment banking advisory firm.
It also added that from 4.7 per cent to 16.2 per cent India’s share of the total investments into the GCC increased substantially during the period.
To strengthen ties by analysing the trend in investment flows and the strategic government initiatives the report presents the state of economic relations between the GCC and India.
For cooperation and investment, it assesses the competitiveness of countries in ease of doing business and further identifies and discusses the potential sectors in both the regions.
Historic ties across cultural, trade, economic, defence and political areas the GCC nations and India are strengthening. As they realise the potential of strategic cooperation and growth, so relations between the two regions are maturing beyond trade, said by Rohit Walia, executive chairman, Alpen Capital (ME) Limi.
As the regions recognise that the GCC-India corridor presents immense opportunities for investors, so to dominate the multi-billion dollar relationship though bilateral trade continues investment flows are raising rapidly, said by Walia.
In the process of upgrading infrastructure, increasing local manufacturing and enhancing energy production, creating a digitally empowered society, India is a fast-growing and emerging economy, said by Walia.
He also added, by such initiatives from both regions, between GCC and India will create increased investment opportunities and further strengthen the relations.
From 4.7 per cent in 2011 to 16.2 per cent in 2016 the total investments of India’s share into the GCC increased, also from 0.7 per cent in 2011 to 2.95 in 2016 GCC investments into India also continued to rise, said by Walia.
As investors looking towards the GCC as an investment destination, oil and gas, food processing, health care, education and infrastructure sectors seem to be the top picks, said by the executive chairman.