India’s share of total investments into the six-member Gulf Cooperation Council has risen from 4.7 per cent in 2011 to 16.2 per cent in 2016, according to a research report. The Gulf Cooperation Council (GCC) investments into India also continued to rise from 0.7 per cent in 2011 to 2.95 per cent in 2016, the ‘GCC-India Corridor Investment Opportunities and Challenges’ report said.
In contrast to the overall decline in total FDI into the GCC, investments from India grew at a compound annual growth rate (CAGR) of 15.9 per cent from USD 1.4 billion in 2011 to $2.9 billion in 2016, the report, published by Alpen Capital, an investment banking advisory firm, said.
During the period, India’s share of the total investments into the GCC increased substantially from 4.7 per cent to 16.2 per cent, it added.”The GCC nations and India are strengthening historic ties across cultural, trade, economic, defence and political areas. Relations between the two regions are maturing beyond trade, as they realise the potential of strategic cooperation and growth,” Rohit Walia, executive chairman, Alpen Capital (ME) Limited, said.
Source Credit: The Economic Times
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