Below is the quote by Amit Bhandari.
These countries have concerns about unrest within their own populations, “simmering since the so-called Arab Spring”, says Amit Bhandari, a fellow at the Mumbai-based foreign policy think-tank Gateway House.
“These countries relied on higher social spending to quieten political unrest. This cannot continue indefinitely, but if let up, can lead to another set of problems for some of the states,” Bhandari said.
Pointing out that the Gulf Cooperation Council (GCC) economies account for over 16 percent of India’s exports, Bhandari said weak GCC economies can hurt Indian exporters and spell trouble for Indian banks that lend to exporters.
“About 3.3 million expatriate Indians also work in the six GCC nations. During the 2008 economic crisis, activities such as construction came to a halt in Dubai, rendering thousands of Indian workers jobless,” he said.
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This quote also appeared in Business Standard, Asian Lite, Web India and Current News, among others.