Asharq Al-Awsat has learned that a delegation representing major Indian companies intends to visit Riyadh from November 14-16 to hold bilateral meetings, expand partnerships with the Saudi private sector, and explore investment opportunities in the Kingdom.
Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, had announced during his participation at the G20 meetings in New Delhi in September the signing of a memorandum of understanding to create an economic corridor connecting India with the Middle East and Europe.
The Federation of Saudi Chambers (FSC) will coordinate bilateral meetings between the Indian delegation, the Saudi Indian Business Council, and the Saudi private sector in Riyadh on Wednesday.
The FSC informed local firms that the Indian delegation includes several giant companies from various fields.
The Saudi firms are currently getting ready to participate in the bilateral meetings with the Indian delegation, explore available opportunities to form alliances, and expand partnerships that serve both parties’ interests.
The FSC had organized the Saudi-Indian Roundtable meeting in October.
The meeting was attended by India's Minister of Commerce and Industry Piyush Goyal, FSC's President Hassan Al-Huwaizi, Acting Secretary General of the FSC Walid al-Arinan, and India's Ambassador to Saudi Arabia Dr. Suhel Ajaz Khan. More than 100 representatives of Saudi and Indian entities and companies took part in the meeting.
During the talks, Saudi and Indian parties reviewed the investment environment and opportunities in the Kingdom and the targeted sectors in the Kingdom's Vision 2030.
Goyal had said that Crown Prince Mohammed’s visit to India in September achieved historic results in the course of relations between the two countries.
India has become a unique economic and investment destination with distinct advantages for foreign investors, he added.
India has an economic vision that aims to achieve $2 trillion annually in total exports, he stated.
Moreover, he remarked that Saudi Arabia's Vision 2030 and the economic corridor linking India, the Middle East and Europe will open promising horizons for international trade and cooperation.
"The investment future between Saudi Arabia and India is large and promising," he said.
