Gulf Cooperation Council

The Secretary-General of the GCC, Jassim Mohammed Al-Budaiwi, reaffirmed in a statement the GCC's consistent support for the Lebanese people

In November 2023, Aster DM had received corporate approvals to separate its India and Gulf Cooperation Council (GCC) businesses into two distinct and standalone entities

Sundaram Alternates Assets (SAA), the private equity arm of Sundaram Finance Group, plans to raise about Rs 1,000 crore from global investors to fund green real estate projects in India. "This move reflects our commitment to build on our own track record, depth of underwriting and risk management skills in the ever-evolving landscape of Indian real estate credit market," Sundaram Alternates Assets managing director Vikaas M Sachdeva told PTI here. In the past year, SAA has not only re-engineered its high-yield credit funds to generate real alpha from its performing credit business but has also adopted a robust ESG and climate impact framework as a significant investor initiative, he said. The firm is currently in the process of raising money from global investors including NRIs in the Gulf region through its Series IV real estate credit fund. "We are expecting to close the fund (Series IV real estate credit fund) at between Rs 1,000-1,200 crore to fund green real estate projects,"

Workers from Uttar Pradesh, Bihar, Rajasthan and Tamil Nadu constitute the majority of labour force from India in the construction industry in the Gulf Cooperation Council (GCC) countries, according to a report. Going by the data of Huntr, the UAE-based marketplace connecting migrant workers with enterprises, Uttar Pradesh, Bihar, Rajasthan, and Tamil Nadu are the highest contributors to the migration of construction workers from India to the GCC countries. Workers with proficiency in construction skills such as masonry, carpentry, plumbing, electrical works, and welding and having prior experience in construction projects, are highly valued by the industries in the GCC countries, the report stated. Further, the report revealed that certifications from the National Skill Development Corporation India (NSDC) and good physical fitness are essential as well for workers who work in the GCC region. Workers with basic communication skills in English and adaptability to different working

The negotiations for the proposed free trade agreement (FTA) between India and Oman are moving at a fast pace and the pact is likely to be signed next month, a senior government official said. Officials of the two countries concluded the second round of talks for the pact, officially dubbed as Comprehensive Economic Partnership Agreement (CEPA) earlier this month in Muscat. "With Oman, there is a very good progress and both sides are very eager to conclude this deal. It may be signed in January 2024," the official said. The negotiations on the text of most of the chapters have been concluded by both sides. Oman is India's third-largest export destination among the Gulf Cooperation Council (GCC) countries. The pact would help increase exports from India post the free trade agreement, as currently over 80 per cent of its goods enter Oman at an average 5 per cent import duties, and there are not many trade barriers. According to think tank GTRI's (Global Trade Research Initiative) ..

The research is based on Ericsson's Mobility Report for 2023, which was released globally on Thursday

The top five labour-sending states so far this year have been Uttar Pradesh, Bihar, Kerala, West Bengal, and Tamil Nadu, according to a study by Huntr

Bahrain-based firm Foulath arm Bahrain Steel has collaborated with Essar Group's KSA Green Steel Project for supply of iron ore pellet to Green Steel Arabia (GSA) project. Through this partnership, the Bahrain Steel will deliver four million tonnes of DR-grade pellets per annum (mtpa) to Essar Group, a statement said. The Bahrain Steel is the only (Gulf Cooperation Council) GCC-owned pellet producer and leading supplier of high-quality DR grade pellets to all integrated steel producers in the region, it stated. "Foulath Subsidiary, Bahrain Steel, a leading producer, and global supplier of high-grade iron-ore pellets, has partnered with multinational conglomerate Essar Group in the supply of iron ore pellets to the Green Steel Arabia (GSA) project. The Letter of Intent (LOI) signing ceremony was held on Wednesday, 16th August 2023, in Jubail, Saudi Arabia. Dilip George, Group CEO of Foulath Holding, said in the statement,"Bahrain Steel's LOI with Essar for the supply of 4 million .

India and the Gulf Cooperation Council have resumed talks for concluding a free trade agreement which is expected to bring new business opportunities for both sides, a top Indian official said on Wednesday as he expressed hope that the deal would soon become a reality. Secretary (Consular, Passport & Visa and Overseas Indian Affairs) in the Ministry of External Affairs Ausaf Sayeed also shared that India is in discussion with its bilateral partners with regard to alternate payment mechanisms like rupee trading and barter trading "especially under the new circumstances where most countries are facing challenges of foreign currency". GCC is a union of six countries in the Gulf region -- Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. The Arab region is the largest trading partner bloc of India with a trade exceeding USD 240 billion during financial year 2022-23. Of this, trade with GCC countries alone amounted to over USD 184 billion. The UAE remained India's third largest ...

The demand for tech talent has surged in GCC companies in India and other non-tech firms that are going digital as organisations are looking at rapid expansion across the country, according to a report. As per industry reports GCC (Gulf Cooperation Council) companies in India are rapidly growing in number and are estimated to employ over 3.6 lakh people in the country in the coming year, business service provider Quess Corp's Skills Report FY23 revealed. Therefore, it came as no surprise that India has become an important hub for GCC firms and other multinational companies to expand their footprint and seek innovation prospects in the country and this shift is also increasing regional diversity in the industry with a rapid expansion of tech talent footprint across tier II and III cities such as Jaipur, Coimbatore, Indore and Kochi. Interestingly, it said that about 20 per cent of the lateral movement from IT firms has been absorbed into GCCs and other non-tech firms that are going .

Both sides were expected to launch trade negotiations in November last year

"With Canada, while they are also not much of a manufacturing base, we have to go into more details. With the UK, it's a manufacturing country on many products. So we have to do it very carefully"

Xi will visit Saudi Arabia from Dec. 7-9, when he will take part in a regional summit with Saudi Crown Prince Mohammed bin Salman and other Arab leaders

The clause was added to the agreement to encourage other countries to join the pact, making it a regional agreement, the sources said

Launch date of negotiation not divulged

India and the Gulf Cooperation Council (GCC) will announce the launch of negotiations for a free trade agreement on Thursday, which aims at promoting two-way commerce and investments between the regions, an official said. GCC is a union of six countries in the Gulf region -- Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain. India's exports to the GCC member countries grew by 58.26 per cent to about USD 44 billion in 2021-22, as against USD 27.8 billion in 2020-21, according to data from the commerce ministry. The share of GCC members in India's total imports rose to 18 per cent in 2021-22, from 15.5 per cent in 2020-21. Bilateral trade has increased to USD 154.73 billion in 2021-22, from USD 87.4 billion in 2020-21. "GCC officials will be here for the announcement," the official said. India has already implemented a free trade pact with the UAE in May this year. This would be a kind of resumption of FTA talks as earlier two rounds of negotiations had been held in 2006 and

India and the Gulf Cooperation Council (GCC) are expected to launch negotiations for a free trade agreement on November 24 with an aim to boost economic ties between the two regions, an official said. GCC is a union of six countries in the Gulf region -- Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. "The FTA will be launched on November 24. GCC officials will be here to launch the talks," the official said. India has already implemented a free trade pact with the UAE in May this year. Commerce and industry minister Piyush Goyal had, on November 16, said that India will be launching a new free trade agreement (FTA) next week. This would be a kind of resumption of FTA talks as earlier two rounds of negotiations held in 2006 and 2008 between India and GCC. Third round did not happen as GCC deferred its negotiations with all countries and economic groups. India imports predominately crude oil and natural gas from the Gulf nations like Saudi Arabia and Qatar, and exports pearls,

India and the Gulf Cooperation Council (GCC) member countries are expected to start negotiations for a free trade agreement next month with an aim to boost economic ties between the two regions, an official said. GCC is a union of six countries in the Gulf region -- Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. "Terms of reference for the agreement are being finalised and we expect to launch the negotiations next month," the official said. India has already implemented a free trade pact with the UAE in May this year. According to experts, the GCC region holds huge trade potential and a trade agreement would help in further boosting India's exports to that market. Rakesh Mohan Joshi, Director, Indian Institute of Plantation Management, Bangalore, said the GCC market is unexploited by domestic exporters and it holds huge potential. "GCC is a major import dependent region. We can increase our exports of food items, clothing and several other goods. Duty concessions under a tra

Minister Goyal is expected to hold bilateral meetings with counterparts from member countries

EAM S Jaishankar signed a MoU with the Secretary-General of Gulf Cooperation Council (GCC) Nayef Falah Mubarak Al-Hajraf on the mechanism of consultations between India and the GCC