The Gulf Investment Corporation (GIC) has signed an agreement with the Export-Import Bank of India to increase trade and investment between the GCC region and India.
Under the terms of the agreement, there would be a regular exchange of information on trade, business and investment opportunities, including the possible setting up of joint ventures and the co-financing of projects.

The partnership reflects already growing trade relations between the two countries, with total non-oil trade between India and the GCC region increasing threefold in five years, from US$6.8bn in 2002-03 to US$22.5bn in 2006-07. Between April 1996 and October 1996, Indian firms invested US$825mn into the GCC countries, accounting for 4% of India’s total approved overseas investments.

To further build upon these developing relations, India Exim has opened a representative office in the Dubai International Financial Centre (DIFC), which is beginning to be seen as one of the major hubs for doing business in the GCC.
GIC is one of the largest investment banks and asset management firm in the GCC region, and is owned by six GCC governments; Bahrain, Kuwait, Sultanate of Oman, Qatar, Kingdom of Saudi Arabia and United Arab Emirates.