London – Arabia Monitor is delighted to announce the publication of 2021 Q3 MENA Outlook “MENA-India: Diversifying the economic corridor.” The report seeks to analyse how MENA-India ties are evolving strategically. The full report will be published on 30 June 2021.
The report discusses the growing relations between the MENA region and India. Focusing on merchandise trade, renewable energy and strategic bilateral investments including food security, it examines how interregional links have developed over the years, extending well beyond energy security and the Indian diaspora. It also seeks to demonstrate new opportunities for growth by looking beyond the current COVID-19 pandemic.
Key findings include:
- Economic links between India and the MENA region look set to deepen with total trade expected to grow by a further 50%, exceeding USD 190B by 2030.
- Overall bilateral trade between the MENA region and India remained steady even through the COVID-19 pandemic. Agricultural trade is one of the fundamental pillars of the MENA-India relationship.
- India’s oil imports are expected to surpass those of China, making India an attractive market for refinery investments, with GCC countries expected to emerge as the key beneficiaries. In addition, India’s efforts in diversifying its sources of energy supply present an untapped opportunity for GCC countries to invest in India’s growing renewable energy market.
- The MENA region continues to face a mixed recovery. While oil importers are expected to bear the brunt, the overall outlook for the region is in line with wider global trends.
Arabia Monitor is a London-based independent research firm specialized in economic and market studies on the Middle East & North African region, which we view as the next emerging market. Our forward-looking perspective allows us to place current developments in the region within a broader context and a long-term view. As the only independent research firm covering all 18 Arabic speaking countries (+Iran), Arabia Monitor acts as a research and strategy back office for its clients, helping them stay ahead of the curve.
© Press Release 2021
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