Dubai, Dec 23: A high-profile delegation of Indian businessmen from the Confederation of Indian Industry (CII) will seek to forge long-term partnership with the Saudi industry besides promoting joint ventures and marketing tie-ups. The team which arrives here today at the invitation of the Council of Saudi Chambers of Commerce and Industry (CSCCI) includes representatives of several top companies such as Hindustan Dorr-Oliver, Tata International, ICICI Bank, Tata Steel, Wipro Infotech, Simon India Ltd, Kirloskar Oil Engines, Tata Consultancy Services and Larsen & Toubro, according to the Indian embassy in Riyadh.
This is the second time that a CII team is visiting the kingdom.
Another delegation of Indian electrical and electronics manufacturers will visit the Saudi Arabia on Jan 17.
The CII mission is scheduled to visit Riyadh, Dammam and Jeddah to hold wide-ranging talks with officials of Chambers of Commerce in Jeddah, Dammam and Riyadh besides meeting with a large number of Saudi industrialists and businessmen.
The chambers are seeking long term partnerships with Saudi industry besides promoting joint investments, ventures, technology transfers and marketing tie-ups.
India and Saudi Arabia have strong economic ties, the kingdom ranking as the 14th largest market for India and accounting for 7.2 per cent of Indian total imports. India is the fifth largest market for the kingdom.
Saudi Arabia has also emerged as the largest supplier of crude oil to India. Public sector oil firms in India have long-term contracts with Saudi Aramco to purchase 7.5 million tons of crude per annum. Bureau Report