India, Arab Nations Establish Chamber to Promote SMEs and Tech Collaboration
IACCIA inaugurated to strengthen trade, investment, and technology transfer between India and Arab countries
India, Jan 31: Union Minister of State for External Affairs Kirti Vardhan Singh on Tuesday inaugurated the India and Arab Countries Chamber of Commerce, Industry and Agriculture (IACCIA), highlighting the critical role of regional cooperation amid rising global tariff barriers and unilateral economic decisions.
“Today, the world is changing rapidly. Countries are erecting tariff walls and taking unilateral economic decisions. In such a situation, focusing on regional cooperation is extremely important,” Singh said. He emphasised India’s centuries-old economic and civilisational ties with the Arab world, describing IACCIA as a strong institutional platform to promote trade, investment, and opportunities for MSMEs and small entrepreneurs.
Ahmed Aboul Gheit, Secretary-General of the League of Arab States, called the chamber’s launch a milestone, noting that India-Arab relations have historical roots in trade, culture, and knowledge exchange, including shared contributions to the numerical system. He said the chamber would facilitate dialogue, exchange of expertise, and structured engagement between business communities.
Bilateral trade between India and Arab countries has surpassed USD 240 billion in recent years, with several Arab nations among India’s top trading partners in energy, petrochemicals, minerals, agriculture, industrial goods, and services. India has become a key source of industrial, technological, and human capital for Arab economies.
IACCIA aims to support SMEs, enable technology transfer, promote investment, and integrate businesses into global value chains. The event concluded with both sides committing to strengthen cooperation on a foundation of mutual benefit and a shared vision for future economic growth.
The inaugural programme was co-hosted by IACCIA and FICCI, with The Pioneer as media partner, and attended by diplomats, business leaders, and dignitaries from India and Arab nations, including Prashant Tewari, Chairman of The Pioneer Group.
