India, Arab states aim to double trade to $500 billion by 2030

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India and the League of Arab states on Saturday announced a target to double trade by 2030 to $500 billion, while a joint declaration ‘strongly condemned’ the heinous terrorist attack in Pahalgam, Jammu and Kashmir, in April last year.The joint declaration was released after a meeting of the India-Arab Foreign Ministers’ Meeting. It said “strongly condemned the heinous terrorist attack in Pahalgam targeting innocent Indian tourists, and reaffirmed their full and steadfast support for India and Arab states in confronting terrorism in all its forms and manifestations”.A minster from Saudi Arabia, which signed a defence pact with Pakistan last year, was also present at the meeting.The Executive Programme of the India-Arab Cooperation Forum (2026-2028) mentions the need to double trade between India and Arab states to $500 billion by 2030, from the current trade of $240 billion. This will include better connect among the traders of the two sides, enhance cooperation among small and medium enterprises, and forge investment linkages.The two sides will also consider the possibility of establishing a local currency settlement system between India and Arab League member states on a voluntary basis, subject to national feasibility studies.The two sides would look to cooperate in the field of agriculture and food security, including on agricultural research, livestock and fisheries. They will also seek to benefit from training programmes provided by the two sides in these areas.Also on the technology front, the two sides have decided to set-up an India-Arab Space Cooperation Working Group to study cooperation in joint remote-sensing missions for climate, agriculture, urban planning and disaster management; space research, capacity-building and academic exchange programs; inclusion of private-sector entities in launches, satellite development, and data service delivery; capacity-building of scientists/engineers from Arab states at Indian space research centres and universities creation of joint space tech incubation hubs, linking ecosystems for startups and SMEs. Indian and Arab space agencies, whether governmental or private, have also been invited to participate in this cooperation.PM reiterates support for PalestiniansPM Narendra Modi on Saturday reiterated continued support for the people of Palestine and welcomed ongoing peace efforts, including the Gaza peace plan, during a meeting with the delegation of Arab ministers and the Secretary General of the League of Arab States.The Minister of Foreign Affairs and Expatriates of State of Palestine, Varsen Aghabekian Shahin, also called on the PM.India has been a long-standing development partner for Palestine. It has given development assistance worth $170 million to Palestine. Of these, projects worth $40 million are presently under implementation, sources said.

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