Indian exports to Saudi Arabia up by 28 pc
Indian exports to Saudi Arabia has increased by over 28 per cent, with officials hopeful of unprecedented increase in trade with better understanding of the huge potential in their bilateral relationship.
By PTI |
DUBAI: Indian exports to Saudi Arabia has increased by over 28 per cent, with officials hopeful of unprecedented increase in trade with better understanding of the huge potential in their bilateral relationship.
Hussein Al-Athel, secretary general of the Riyadh Chamber of Commerce and Industry (RCCI), said, "Greater awareness about India's potential, particularly in the IT sector", could give a boost to bilateral trade, which stood at $3.44 billion in 2005.
Speaking at the 'India Week', organised by the Indian embassy to mark the first anniversary of King Abdullah's visit to India, he said though Saudis in general were aware of India's strength in the IT and education sectors, they are still to fully understanding its huge potential to boost bilateral trade. He advocated more trade shows and seminars to spread awareness among Saudi businessmen on the issue.
The Indian ambassador to Saudi Arabia, M O H Farook, said King Abdullah's visit to New Delhi last year was a landmark event, which not only gave "a boost to bilateral relationship but laid the groundwork for future economic and commercial ties."
"You would agree with me that there is a vast potential to tap new areas of cooperation. I would like to invite Saudi businessmen to explore the possibilities of setting up joint venture projects, especially in the infrastructure sector in India," the ambassador was quoted as saying in the Arab News today.
Hussein Al-Athel, secretary general of the Riyadh Chamber of Commerce and Industry (RCCI), said, "Greater awareness about India's potential, particularly in the IT sector", could give a boost to bilateral trade, which stood at $3.44 billion in 2005.
Speaking at the 'India Week', organised by the Indian embassy to mark the first anniversary of King Abdullah's visit to India, he said though Saudis in general were aware of India's strength in the IT and education sectors, they are still to fully understanding its huge potential to boost bilateral trade. He advocated more trade shows and seminars to spread awareness among Saudi businessmen on the issue.
The Indian ambassador to Saudi Arabia, M O H Farook, said King Abdullah's visit to New Delhi last year was a landmark event, which not only gave "a boost to bilateral relationship but laid the groundwork for future economic and commercial ties."
"You would agree with me that there is a vast potential to tap new areas of cooperation. I would like to invite Saudi businessmen to explore the possibilities of setting up joint venture projects, especially in the infrastructure sector in India," the ambassador was quoted as saying in the Arab News today.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
