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Saudi Arabia seeks Indian investments in infrastructure, IT
Mumbai, Oct 16: Saudi Arabia has sought Indian investments in infrastructure, infotech, manufacturing and mining sector increased bilateral trade.
Mumbai, Oct 16: Saudi Arabia has sought Indian investments in infrastructure, infotech, manufacturing and mining sector increased bilateral trade.
"Overseas investors can now start wholly owned manufacturing and services units except trading activity in Saudi Arabia and the Indian business could benefit from conducive business climate", Saudi Chambers of Commerce and Industry chairman Abdul Reham Jeraisy said, addressing the Confederation of Indian Industry on Wednesday.
Jeraisy said Saudi economy was strong with high purchasing power and its private sector was growing at 5-6 per cent per annum.
"We need to grow relations by stepping up co-operation in information technology and infrastructure sector", he said adding Saudi Arabia was interested in development of mines for minerals, including bauxite.
The bilateral trade was pegged at $4.04 billion of which Saudi imports stood at $808.7 million while Indian imports were about $3.22 billion, according to CII data.
Bureau Report
Jeraisy said Saudi economy was strong with high purchasing power and its private sector was growing at 5-6 per cent per annum.
"We need to grow relations by stepping up co-operation in information technology and infrastructure sector", he said adding Saudi Arabia was interested in development of mines for minerals, including bauxite.
The bilateral trade was pegged at $4.04 billion of which Saudi imports stood at $808.7 million while Indian imports were about $3.22 billion, according to CII data.
Bureau Report