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India-GCC: Prospects for post-pandemic trade cooperation and economic recovery (ORF)

Boasting a gilded heritage of trade ties going back to the Dilmun and Indus Valley civilisations, the Gulf states, united under the umbrella of the Gulf Cooperation Council, and India have emerged as crucial strategic, economic, and cultural partners. The multidimensional challenges posed by the COVID-19 pandemic across the world, however, did not leave the partners untouched. While the Indian economy contracted by over 7 percent in 2020, the GCC, then experiencing bearish growth due to the tanking oil prices, shrunk by nearly 5 percent in the same period.

India-GCC: Prospects for post-pandemic trade cooperation and economic recovery | ORF (orfonline.org)