13/10/2016
Member of Board of Directors in Asharqia Chamber Rasheed bin Abdullah Al Rasheed, stressed
the flourished trade relations between
the Kingdom and India in all fields, pointing to the many mutual high standard
visits, in the ministerial level as well as trade delegations which took the
two countries to new prospects.
Al Rasheed, in a meeting with the vip Indian business
delegation, chaired by the first minister of the state of Gujarat of India Dr. Rajiv
Kumar Gupta, recently in Asharqia Chamber, which was chaired by Secretary General of the Chamber Abdulrahman bin
Abdullah Al Wabel and attended by a number of businessmen and interested figures,
said that officials in the Indian Embassy in Riyadh made big efforts in presenting
many of the initiatives for the business sector in the two countries, as the Kingdom is witnessing many trade exhibitions that attracted many businessmen.
asheed bin Abdullah Al Rasheed, two
countries to new prospects.
Al Rasheed, in a meeting with the vip Indian business
delegation, chaired by the first minister of the state of Gujarat of India Dr. Rajiv
Kumar Gupta, recently in Asharqia. Al Rasheed urged the Indian companies to consider investment
opportunities in the region and establish business partnerships with their
Saudi counterparts and use the motivating economic and facilities policies supported
by the stability and peace in the kingdom, pointing to the huge petrochemical
projects in Jubail Industrial City 1 and 2 and Ras Al Khair.
For his part, Gupta said that a big group of Saudi
businessmen participate in the activities of Gujarat summit, that is to be held
in 10 to 13 January 2017 and focuses on "the sustainable economic and
social progress.
Gupta pointed that Gujarat summit has proved its big successful
bringing together many governments, ministers and policy makers and leaders of
the main business in the world who have made them a unique platform for the
exchange of ideas, knowledge, communication, and exploring business
opportunities and signing cooperation
and partnership agreements.
Gujarat is considered the oil capital of India
because of the huge energy refinaries by the private and public sector
companies, it also has a wide range of petrochemicals, chemicals,
pharmaceuticals and fertilizers industries that already have attracted big amounts
of foreign direct investment, according to a study by the international Bank
and KPMG confirming that the state of Gujarat is classified for the first time among
the easiest in doing business and reforms.
Indian companies are investing in the Kingdom grouped investment
estimated of $ 1.6 billion, mainly in
the energy, information technology and manufacturing fields.
Kingdom investments are estimated in India of about $
228 million, and Saudi Aramco company and SABIC have expansion plans for
further investments, pointing that SABIC recently opened a technology center in
Bangalore at a cost of $ 100 million, as the mutual trade amount between the
two countries has reached nearly 40 billion dollar last year.
The Indian delegation represents a variety of products
and services in oil and gas, petrochemicals, infrastructure development, education,
auditing and consultations.
