India strengthens Gulf ties, focuses on supply chain resilience

Commerce Minister Piyush Goyal held virtual talks with Saudi Arabia and other Gulf leaders to review the West Asia situation. Both sides stressed supply chain resilience, stable trade flows, and stronger economic ties following the recent ceasefire in the region

New Delhi: Commerce and Industry Minister Piyush Goyal had a virtual call with Dr Majid bin Abdullah Al Qassabi, Minister of Commerce of Saudi Arabia, and expressed optimism that the recently announced ceasefire would pave the way for lasting peace and security in the region.

He hailed the indomitable spirit of the Saudi people, who have been steadfast in their resolve to maintain supply chain resilience amid increased disruptions and volatility.
Goyal also condemned attacks in the country during the ongoing conflict and appreciated Saudi Arabia’s efforts to protect the Indian community.

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According to an official statement, both sides noted the strain the conflict has put on regional supply chains and stressed the need for an early recovery through coordinated efforts to ensure smooth trade flows.
Goyal highlighted India’s steps to support exports to KSA and the Gulf region. The ministers reaffirmed their commitment to strengthening bilateral trade and expressed optimism for early progress in the India-GCC FTA negotiations.

The statement further said that the virtual meeting underscored the shared commitment to further deepening the India-Saudi Arabia economic partnership.

Earlier, Goyal on Friday held a series of high-level virtual meetings with key Gulf partners, underlining the importance of supply chain resilience, stable trade flows, and deeper economic cooperation following the recent ceasefire.

In his interaction with Jasem Mohamed Al Budaiwi, Secretary General of the Gulf Cooperation Council, Goyal expressed optimism that the ceasefire in the region would hold and pave the way for long-term peace and stability.

In a separate call with Thani bin Ahmed Al Zeyoudi of the United Arab Emirates, Goyal welcomed the ceasefire and underscored the critical role of uninterrupted trade in sustaining strong bilateral ties.

He conveyed India’s unequivocal support to the UAE while condemning recent attacks and thanked the Emirati leadership for assisting the Indian diaspora during the crisis.

Goyal also held discussions with Abdulla Bin Adel Fakhro of Bahrain, where both sides emphasised the importance of restoring stability and ensuring predictable trade flows, particularly through maritime routes.