Sun, Dec 04, 2022 |
Updated 02:01 IST
GCC countries contribute almost 35 pc of India’s oil imports: Union Minister Piyush Goyal
Nov 24, 2022
New Delhi, Nov 24 (ANI): Union Minister Piyush Goyal attended India-Gulf Cooperation Council (GCC) free trade agreement launch ceremony on November 24. While addressing the event Piyush Goyal informed that the GCC countries contribute almost 35 pc of India's oil imports and 70 pc of India’s gas imports.
He said, “We've agreed to pursue Free Trade Agreement between India and Gulf Cooperation Council (GCC) & conclude it at the earliest. GCC is already India's largest trading partner. GCC countries contribute almost 35% of India's oil imports & 70% of our gas imports.”
“FTA between India and GCC countries will be a comprehensive economic partnership. What exactly can be expected needs to be discussed bilaterally b/w each country. For example, UAE is looking to invest around USD 100 bn in India,” he added.