Introduction

In a decisive move to modernize economic engagement between the subcontinent and the Gulf, Minister of State for External Affairs, Shri Kirti Vardhan Singh, officially inaugurated the India–Arab Countries Chamber of Commerce, Industry & Agriculture (IACCIA) in New Delhi on January 30, 2026. This new institutional body is designed to move beyond traditional buyer-seller relationships, aiming instead to position the Arab world as a strategic gateway for Indian businesses to access markets in Africa, Europe, and Latin America.

Key Facts
Inaugurated By

Shri Kirti Vardhan Singh (MoS External Affairs)

New Institution

India–Arab Countries Chamber of Commerce (IACCIA)

Bilateral Trade

~$240 Billion (FY 2024-25)

Key Guest

Ahmed Aboul Gheit (Sec-Gen, Arab League)

Primary Focus

SMEs, Food Security & Tech Transfer

Official Statement & Highlights

A Shift in Global Trade Rules

During his keynote address, MoS Kirti Vardhan Singh highlighted that the global trading order is undergoing a "dynamic shift." He emphasized that regional cooperation is no longer optional but the "definitive way forward." The Minister stressed that India sees the Arab nations not just as energy suppliers, but as long-term partners in what he termed India's "extended neighborhood."

Strategic Economic Hubs

A central theme of the inauguration was the reimagining of the Arab region as a launchpad. The Minister noted that by leveraging the logistics and connectivity of Arab nations, Indian enterprises could more effectively reach markets in the Global South and Europe. This aligns with the 'Vasudhaiva Kutumbakam' (The World is One Family) philosophy, integrating regional prosperity with global commerce.

Economic Impact & Dependencies

Energy & Agriculture

The interdependence between the two regions remains critical. Currently, the Arab world supplies approximately 60% of India’s crude oil imports and over 50% of its fertilizer requirements. The new Chamber aims to diversify this by promoting collaboration in food security, specifically focusing on drought-resistant crops and agri-tech solutions.

Empowering SMEs

Unlike previous high-level forums that focused on large state-run enterprises, the IACCIA has a specific mandate to empower Small and Medium Enterprises (SMEs). The goal is to facilitate technology transfers and joint ventures that allow smaller businesses to participate in the massive $240 billion trade ecosystem.

Source Information

For more details on the inauguration and the Minister's full remarks, please refer to the Ministry of External Affairs website:

Official MEA Press Release

Institutionalizing Ties: MoS Kirti Vardhan Singh Inaugurates New India-Arab Chamber of Commerce - Image 1

Frequently Asked Questions

Q. What is the main purpose of the IACCIA?
The Chamber is established to streamline trade relations, resolve regulatory bottlenecks for private businesses, and specifically support SMEs in navigating the India-Arab economic corridor.
Q. How large is the Indian Diaspora in the Arab world?
There are approximately 90 lakh (9 million) Indians living and working in the region, serving as a "living bridge" for cultural and economic exchange.
Q. Who is the Secretary-General of the Arab League?
Mr. Ahmed Aboul Gheit, who was present at the event and emphasized the deep historical roots of India-Arab relations.
Q. What sectors are prioritized for future cooperation?
Beyond oil and gas, the focus is shifting to renewable energy, green hydrogen, digital infrastructure, and pharmaceutical manufacturing.