Mon, Feb 27, 2017 | updated 11:47 PM IST

India's buyer-seller relation with Gulf in oil changing: M.J. Akbar

Updated: Jan 05, 2017 23:32 IST

Bengaluru (Karnataka) [India], Jan. 5 (ANI): Noting that India's relationship with the Gulf has been on a "remarkable positive track", Minister of State (MoS) for External Affairs M.J. Akbar on Thursday said the traditional buyer-seller relationship in oil between New Delhi and the oil producing countries is changing.

Speaking at the inauguration of GOPIO Global convention in Bengaluru, Akbar said that the Gulf countries are investing in India's strategic petroleum reserves.

Akbar said India's security relationship with the Gulf countries forms a critical part of its commitment to peace and elimination of terrorism.

"A security relationship of such dimensions can only happen when there is enormous trust and unflinching resolve," he added.

Akbar's statements assume significance as India will have its first Strategic Dialogue with UAE in Delhi on January 20. And New Delhi will be a host to Crown Prince Mohammed bin Zayed Bin Sultan Al-Nahyan on Republic day.

India has signed a framework agreement with Saudi Arabia for an investment of 1 trillion dollars in infrastructure development over the next five years.

"A security relationship of such dimensions can only happen when there is enormous trust and unflinching resolve," he said.

"But few things illustrate the success of our engagement with the world more than the dramatic escalation in ties with UAE, Saudi Arabia and the Gulf, forged under the leadership of Prime Minister Narendra Modi. Sceptics were startled when the King Salman bin Abdulaziz, Custodian of the Two Holy mosques, presented the "Sash of King Abdulaziz", Saudi Arabia's highest civilian honour, to our Prime Minister," he added.

Akbar later shifted his focus to its long-time ally Russia who listed its achievement in forging strong cooperation in the fields of defence, energy, information technology, trade and investment.

"The first-ever project in the defence sector under PM's flagship "Make in India" program is with Russia. Units I and II of the Kudankulam Nuclear Power Plant (KKNPP) have been already dedicated to the nation and work on Units III and IV began in October 2016," he added.

Akbar said India's relationship with America is based on shared values and popular impetus which has acquired unprecedented momentum.

" India has become a Major Defence Partner of America. FDI investments from the US have risen from less than a billion dollars in 2014 to USD 4.5 billion this year. A contract is being negotiated with Westinghouse for a 6600 MW nuclear plant," he said.

"We are collaborating with the US across a wide range - from counter-terrorism to building smart cities to clean energy technologies," he added. (ANI)

New Delhi [India], Feb. 27 (ANI): The fifth MAK Pataudi Memorial Lecture 2016-17 and the BCCI Annual Awards 2016-17 will take place at Ritz Carlton, Bengaluru on March 8.

Full Story >>

Kolkata (West Bengal) [India], Feb. 27 (ANI): A massive fire broke out in Kolkata's Burabazaar area on Monday night.

Full Story >>

Raipur (Chhattisgarh) [India], Feb 27(ANI): Spiritual leader Sri Sri Ravi Shankar has commented the growing menace of Naxal elements across the nation, and expressed his desire to help them in all situations.

Full Story >>

New Delhi [India], feb. 27 (ANI):Additional Deputy Commissioner of Delhi Police, North-West District, confirmed the arrest of a hoax caller who had threatened to carry out a bomb blast in Prime Minister Narendra Modi's election rally in Mou, Uttar Pradesh.

Full Story >>

Hyderabad [India], Feb. 27 (ANI): The body of Srinivas Kuchibhotla, as Indian engineer who was shot dead in Kansas in an alleged hate crime, arrived here today, from where it will be taken to his home for final rites.

Full Story >>

New Delhi [India], Feb. 27 (ANI): Dismissing claims of being 'anti-national', Delhi University student Gurmehar Kaur defended her demand for a violence-free university campus, adding that she was not being influenced by anybody.

Full Story >>

New Delhi [India], Feb. 27 (ANI): Minister of State for Parliamentary Affairs Mukhtar Abbas Naqvi today said that the BJP is a party that takes all communities and people of various religious persuasion along with it, adding that while it is not looking at religion-based distribution of tickets, it 'would have been better' to give Muslims candidates tickets to contest the polls in Uttar Pradesh.

Full Story >>

New Delhi [India], Feb 27 (ANI): Congress leader Mallikarjun Kharge on Monday criticized Information and Broadcasting Minister M Venkaiah Naidu for espousing the ideologies of the Rashtriya Swayamsevak Sangh party (RSS) on every subject under the sun.

Full Story >>

New Delhi [India], Feb 27 (ANI): Congress leader Ambika Soni on Monday came out in support of Lady Shri Ram College student Gurmehar Kaur after she logged a complaint with the Delhi Commission for Women (DCW) that she was being threatened with rape through social media.

Full Story >>

New Delhi [India], Feb.27 (ANI): Vice President M.Hamid Ansari has said there is a need to move towards implementing a framework of sustainability that synthesizes both the human and the environmental elements of security for sustainable human development.

Full Story >>

New Delhi, [India], Feb. 27 (ANI): A record amount of cash, liquor, drugs and jewellery was seized during the fifth phase of Uttar Pradesh (UP) Assembly elections, said the Election Commission on Monday.

Full Story >>

New Delhi [India], Feb.27 (ANI): Railways Minister Suresh Prabhu flagged off the fourth Humsafar class of trains and the first Antyodaya class of trains through video conferencing from Rail Bhawan on Monday.

Full Story >>

New Delhi [India], Feb 27(ANI): Delhi University student Gurmehar Kaur on Monday made it clear to her detractors that her opposition to the Akhil Bharatiya Vidyarthi Parishad (ABVP) was not on grounds of ideology, but on what actually happened in the Delhi University campus last week.

Full Story >>

New Delhi [India], Feb.27 (ANI): India and Ukraine have agreed to strengthen the bilateral cooperation between the two countries through the medium of cinema.

Full Story >>

New Delhi [India], Feb.27 (ANI): Union Minister of State Dr. Jitendra Singh inaugurated a group exhibition of paintings by Jammu artists at Lalit Kala Akademi here today.

Full Story >>

Thane [India], Feb. 27 (ANI): The 21 accused in leaking the question papers of an army recruitment exam, which was set to be conducted last Sunday, have been sent to police custody till March 4th.

Full Story >>

Gorakhpur, (Uttar Pradesh), Feb. 27 (ANI): Taking on Prime Minister Narendra Modi for his remarks on electricity shortage in Uttar Pradesh, Uttar Pradesh Chief Minister Akhilesh Yadav on Monday called on the former to grab any wire across the state to ascertain the flow of electricity.

Full Story >>

New Delhi [India], Feb. 27 (ANI): Gopal Baglay on Monday took charge as the new spokesperson for the Ministry of External Affairs (MEA), replacing Vikas Swarup, who has been appointed as the Indian High Commissioner to Canada.

Full Story >>

Lucknow (Uttar Pradesh) [India], Feb. 27 (ANI): The fifth phase of Uttar Pradesh assembly polls witnessed a voter turnout of 57.36 percent till 5 P.M. on Monday.

Full Story >>

New Delhi [India], Feb 27(ANI): Launching a frontal attack on Prime Minister Narendra Modi for mixing religion and politics during his election rallies in Uttar Pradesh, the Congress Party on Monday accused the Bharatiya Janata Party (BJP) of attempting to disrupt communal harmony in the country.

Full Story >>