Saudi-Indian Business Council Tackles Joint Opportunities
The Saudi-Indian Business Council held a meeting on Wednesday to discuss its agenda for the upcoming period. The meeting was headed by Chairperson of the Council of Saudi Chambers (CSC) Dr. Sami Al Obaidy; attendees included Chairperson of the joint council (Saudi side) Eng. Kamel Al Munajed, CSC Secretary General Dr. Saud Al Meshari, Commercial Attaché Ahmed Al Duhaiem, and chambers representatives and businesspeople from both sides.
The meeting, which coincided with the Saudi-Indian Forum in New Delhi and HRH Crown Prince Mohammed bin Salman’s visit to India, touched on mechanisms to foster bilateral relations, including creating new channels of communications, increasing business delegations, and exploring promising opportunities in the two markets, namely in oil and gas, tourism, minerals, healthcare, infrastcturture, and information technology.
It is worth noting that the Saudi-Indian Forum was co-organized by the Saudi Arabian General Investment Authority (SAGIA) and the Saudi Center for International Strategic Partnerships (SCISP), and included a keynote speech by Executive Director of SCISP Dr. Faisal Al-Sugair.
Trade between Saudi Arabia and India have been steadily growing in recent years, reaching SAR 94 bn in 2017 thanks to mutual efforts of both the Saudi-Indian Joint Committee and Business Council, and the signed agreement on avoidance of double taxation. Such bilateral meetings are key to realizing the Saudi Vision 2030, which aims at creating new opportunities and development projects that attract foreign investors and expertise, particularly in regards to training human resources, enhancing SMEs, and developing renewable energy, among other fields.