India and West Asia: Emerging Markets in the Liberalisation Era

The decade of the nineties has been marked by economic liberalisation and increasing privatisation both in India and the countries of West Asia. This has created new economic and business opportunities on both sides. Against this background, Dr. Javed Ahmad Khan provides a critical and comprehensive analysis of India’s economic and diplomatic ties with the West Asian region. He locates his analysis in the wider context of the growing inter-dependence between and the rapid expansion of trading activities among developing nations. Dr. Khan begins with a discussion of the current economic reforms both in India and in the countries of West Asia which have recently opened up to foreign investment and global trade. He goes on to examine India’s economic relations, both successful and otherwise, with West Asian nations in the nineties. Two significant developments dealt with in depth are India’s newly established diplomatic relations with Israel, and its strengthening economic ties with Iran. Both are attracted to the openness of the Indian economy and this has led to India acquiring defence and agricultural technology from Israel, and India’s greater participation in the petrochemicals sector in Iran. The prospects of India’s trade with the oil-rich countries of the Gulf are also discussed, highlighting areas of mutual commercial benefit. Finally, Dr. Khan outlines the role that the 2.5 million Indians living in the region can play in strengthening India’s trade relations with the countries of West Asia. This timely book projects the new economic and business climate emerging in the West Asian region. It will be of interest to industrialists, businessmen and policy makers as also to those in the fields of foreign trade, foreign policy, international relations and area studies.