India will organise a multi-product catalogue exhibition of Indian companies from trade and industry sectors here this week to showcase investment opportunities for Saudi businesses in the country.
The one-day exhibition to be held on May 7 will be the first commercial event organised by the Indian Embassy to provide Saudi businessmen and investors a "unique opportunity" to explore possibilities of setting up of joint ventures and doing business in the various sectors of India's trade and industry, said embassy spokesman Surinder Bhagat.
"The exhibition will showcase a large range of catalogues, CDs and other publicity materials of Indian companies from various sectors of trade and Industry such as agriculture and food, automotives, chemicals, construction, IT and electronics", Bhagat said.
Catalogues and CDs from several Indian companies will be displayed and distributed free of cost at the event named as INDIA CATEX, a joint venture between Indian Embassy and Al-Majmaah Chamber of Commerce and Industry (CCI).
Indo-Saudi economic relations have shown remarkable growth with bilateral trade registering three-fold increase in the last five years.
Saudi Arabia is the 4th largest trade partner of India and the bilateral trade was USD 43.78 billion in 2012-13 and USD 32.7 billion from April - November 2013.
The import of crude oil by India forms a major component of bilateral trade with Saudi Arabia being India's largest supplier of crude oil, accounting for almost one-fifth of its needs.
During the current year, Saudi Arabia is the 6th largest market in the world for Indian exports and is destination of more than 4.08 per cent of India's global exports. On the other hand, Saudi Arabia is the source of 8.05 per cent of India's global imports, according to official figures.
