By Amritha Pillay

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Consider this — for every Rs 100 worth of orders that engineering giant Larsen & Toubro (L&T) booked in the first quarter of FY2025-26, nearly Rs 40 came from West Asia. It’s a statistic that tells a bigger story. L&T is not an exception. Indian firms across industries are weaving themselves into the region’s attempt to reinvent itself beyond oil. From tech firms, consumer giants to jewellery brands, Indian firms are increasingly setting up shop in West Asia. For years, India’s ties with the countries in the region has been dominated by oil imports and migrant Indian labour. But now things are changing. Flush with wealth and eager to diversify, countries like Saudi Arabia, the United Arab Emirates (UAE) and Qatar are setting up cities in the desert, and opening up their economies to foreign firms. For Indian firms, it’s both a massive opportunity and a competitive space. Indian business’ interest in West Asia can be viewed in two baskets – the initial move-ins by core sector companies to tap the region’s infrastructure, energy and real estate boom, and later those from the consumer, start-up and finance economy, lured by a growing consumption market and regulatory ease. The Gulf’s Big Bet The scale of ambition is staggering. Saudi Arabia’s Vision 2030 blueprint. The NEOM city alone — being built in Tabuk Province in Saudi Arabia — whic…