Saudi Arabia and India are reinforcing their bilateral investment and strategic relationships as a 50-member Kingdom delegation embarked on a tour of three cities, holding meetings and workshops to increase the economic relationship.
According to the Saudi Press Agency, the Federation of Saudi Chambers arranged a visit where a delegation of both the public and the private sector, including senior investors in the Kingdom, paid a visit to India as part of a program full of economic and investment meetings and events in three cities in India: New Delhi, Mumbai, and Visakhapatnam.
The visit was to reflect the investment opportunities and incentives in Saudi Arabia and India, the business environment, and the prospects of partnership in strategic economic sectors.
It also demonstrates the determination of Saudi Arabia to diversify its national economy through Vision 2030 by enhancing international relations, encouraging strategic investment, and seeking a new collaborative opportunity in the priority areas of the economy, which also enhances the role of the Kingdom as a key international investment center.
The delegation organized three economic events in the Indian capital, New Delhi, in partnership with the Federation of Indian Chambers of Commerce and Industry, or the FICCI, and the Confederation of Indian Industry, which is referred to as CII; therefore, in the presence of many companies, authorities, and private and publicly owned organizations of both countries.
The events also featured the Saudi- Indian roundtable on the automotive industry, which is geared towards enhancing investment and industrial relationships between the two countries in the automotive industry.
Potential prospects in manufacturing, supply chains, electric vehicles, and innovative technologies were discussed, and collaboration on creating a completely integrated and sustainable automotive sector was explored.
Equally, a Saudi-Indian start-up round table has examined the Vision 2030 initiatives by the Kingdom with a view to making the Kingdom a global destination of innovation and entrepreneurship and has identified areas of cooperation in technology, innovation, and entrepreneurial investment.
During the fringes of the meetings, the two parties signed a memorandum of understanding to streamline the production lines of sugar and feed agricultural products with the help of advanced technologies.
Additionally, the Saudi-Indian Investment Forum addressed investment prospects in strategic areas like food security, healthcare, infrastructure, and technology.
Similarly, the workshop has also included a top-level interaction of officials and business leaders of both nations, which is aimed at enhancing the relationship in terms of investment and expanding the economic collaboration.
In the meeting, the topics were also addressed on the investment environment in Saudi Arabia, regional headquarters programs, special economic zones, and opportunities for industrial and technological partnership.
The workshop also featured parallel sectoral sessions in construction and real estate, healthcare, petrochemicals, and energy, which are aimed at promoting sustainable investments and collaborations between Saudi Arabia and India.
