nupur sharma: BJP leaders slander Prophet Muhammad: Will India-Gulf countries affect trade?

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The question arises as to whether the immature and controversial views of the BJP leaders on the Prophet Muhammad will affect India’s trade relations with the Gulf countries.

Slander

The BJP leadership has ordered the suspension of Nubul Sharma and Naveen Kumar Jindal for making controversial remarks about the Prophet Muhammad.

Disgruntled and annoyed by the affair, Muslim countries summoned Indian ambassadors and recorded their condemnation and dissatisfaction. Qatar, Iran, Saudi Arabia and the United Arab Emirates have condemned the Indian ambassadors.

Ignoring Indian goods

Have called for a boycott of India’s goods. In this, Oman has openly stated that it will boycott Indian products. The federal government has expressed regret over the incident.

The immature speeches of BJP leaders Nubul Sharma and Naveen Kumar Jindal have raised the question of whether the more than half a century of trade relations between the Gulf states and India will be affected.

Condemnation

Muslim leaders and Muslim leaders, including Saudi Arabia, Libya, the United Arab Emirates, Indonesia, Kuwait, Qatar, Bahrain, Yemen, Iran and Oman, have strongly criticized the speech.

The Organization of the Islamic Conference (OIC) has condemned the BJP leaders’ speech. However, the BJP, which did not appear to be involved in the matter, suspended the two, dismissing the view as their personal opinion and not that of the central government.

nupur sharma and naveen jindal: Can BJP leaders remarks on the Prophet affect Indian trade ties with Gulf?

India has a longstanding trade relationship with West Asian countries. Controversial comments by some BJP leaders have raised concerns about the rift in friendly and trade relations between India and the Gulf states, which have long been cherished.

Trade relationship

Bahrain, Kuwait, Oman, Qatar, United Arab Emirates and Saudi Arabia are the six countries that have economic cooperation. Exports to India with these countries have been high.
These countries rank 4th in India’s exports. India’s exports to these countries are as high as those next to North America, the European Union and Northeast Asia.

nupur sharma and naveen jindal: Can BJP leaders remarks on the Prophet affect Indian trade ties with Gulf?

Petroleum imports

India’s position depends on these countries. India is dependent on these countries for its fuel needs. Two-thirds of India’s petroleum imports come from West Asian countries. Petroleum products account for 30 per cent of India’s imports.

The United Arab Emirates is India’s 2nd largest exporter and 2nd largest importer in the current financial year. India trades more with the United Arab Emirates than the United States and China.

Saudi Arabia

Saudi Arabia was ranked 4th in the last financial year and 2nd in the current financial year. India signed a comprehensive economic cooperation agreement with the United Arab Emirates last February.

India is also in talks to implement a free trade agreement with the Gulf states. In the last financial year alone, exports from India to the GCC countries of Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates and Saudi Arabia alone stood at $ 439.30 billion.

nupur sharma and naveen jindal: Can BJP leaders remarks on the Prophet affect Indian trade ties with Gulf?

This is 58 percent more than the previous year. In terms of imports, imports stood at $ 1107.72 crore, an increase of 86 per cent

Export Import

Large quantities of pulses, electrical equipment, garments and machinery are exported from India to GCC countries. From there petroleum products, precious stones and plastic products are imported

nupur sharma and naveen jindal: Can BJP leaders remarks on the Prophet affect Indian trade ties with Gulf?

Trade relations between India and the Gulf countries have grown rapidly over the past few years. India’s investment in GCC countries has also increased significantly. India is also a great country for many investors in the Gulf to invest. Therefore, not only friendship but also trade relations will be affected if the BJP leaders continue their controversial talks.

Last Updated Jun 7, 2022, 3:15 PM IST

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