 As India leaps forward in the new millennium with its predominant role in information technology, a consumer power of a 300 million straw middle class and an equally large aspirational class, further increasing its buying power, raising its standard of living, piercing ahead in the education sector and improved healthcare, its industrialisation, liberalisation policies and self-sufficiency in food. Our foundation of economic and commercial relations with traditional friends and neighbours is strengthening. On the other side, the Arab nations are blessed with abundant oil wealth and have proved to the world their management capabilities in building their countries on a modern pattern, enabling them to sustain their oil economies, making the lives of their people comfortable while still holding on to their social traditions. Parallel with the economic transformation in this region, is the political consolidation in form of the Gulf Cooperation Council. This has given a collective framework to India for a joint initiative, the Gulf as a whole. The contribution of Indian manpower in their nation building is well recognised by the Arab countries in various fields, from construction of buildings, roads, bridges, ports and airports, to religious places, and the demand for Indian workforce is still increasing. India's energy needs and the Gulf's abundant oil reserves and surplus capital have created strong complementarities. Thus we have a stake in each other's economies. It is this new equation which is helping in opening new vistas and trade opportunities, providing a basis for joint endeavours. India's largest joint venture, a 968 million US dollar project, Indo-Aman-Amonia-Urea complex near Surah in Oman, has come up as a model of cooperation between India and the Gulf. India was able to set up a viable project, 50% owned by India and 50% by Oman. Several Indian companies are also active in the six GCC countries, strengthening our economic relations. Oman and Saudi Arabia have been our traditional markets, but other than that we have supplied certain equipment to Kuwait, United Arab Emirates, and by way of increased presence there we have now an office in Dubai. BHEL has been providing some of the lowest cost power plants to this region, 75% of our total exports go to the Gulf region. One of India's largest business houses, SR, is exporting flat steel to the Middle East region, providing transport solutions to the global energy business. Transporting crude oil from the oil producing regions across the globe. In the telecom sector, telecommunication consultant India Limited has been very actively working in this region, providing cost-effective and reliable telecommunication services, resurrections of telecom rehabilitation projects in Kuwait after the Gulf War, installation and ONM of digital microwaves, optical fiber coaxial and GSM network in the Kingdom of Saudi Arabia. Regular interactions are established through seminars to deliberate on the expansion of economic activities between India and GCC countries. A high-level delegation of businessmen from Bahrain met a cross-section of their Indian counterparts in 2006 at a conference held by CII and a number of agreements were signed which will help push our businesses together. CII works closely with its MOU partners. We are trying to attract the major companies here in from India to come and set up in Dubai and we will be conducting this road show in five major cities here in India. What CII does, we have established contacts with the local chambers of commerce in all these countries. We go to the companies directly. We keep very close contact with the departments of the government or the ministries. We have promoted Indian economic reforms and the success which has been achieved. Now there is understanding that India is a safe destination for their investments, for their relationship and their future would be safe if they look at India as they look to the west. Our relations have acquired a multi-faceted profile covering almost every gamut of bilateral relation. Great progress has been made on the economic front where India and Arab neighbors have generated volumes of trade touching billions of dollars over the years. To preserve the interest of the peoples and ensure their progress the GCC countries in India hold a solid commitment to working together harmoniously using the tools of partnership and cooperation.