Young Saudi businessmen and engineers have been offered support by an Indo-Arab business forum to set up small and medium enterprises (SMEs) in Saudi Arabia.
The Indo-Arab Chamber of Commerce and Industries will provide them with training and technology, while urging more Saudi businessmen and businesswomen to invest in India.
An executive said the chamber is ready to invite young Saudi men and women to India to provide them with training in areas where they want to open enterprises.
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"During our roadshow here, I met 27 Saudi engineering students who want to do business with India and get training to start their own SMEs in Kingdom. I was really impressed by their innovative ideas," Sunanda Rajendran, the chamber's executive director told Arab News.
Rajendran described Saudi Arabia as a fastest growing economy in the Middle East, with greater potential. She also highlighted the growing Saudi-Indian economic and trade relations.
"Trade exchanges between the two countries are expected to hit USD 50 billion shortly. We are now seeking more Saudi investment, especially in education, healthcare, energy and power and tourism," she was quoted as saying. Saudi Arabia is the fourth largest trading partner of India.
"We have identified 133 Indian companies to register with Saudi Arabian General Investment Authority (SAGIA) and hope at least half of that number from Saudi companies to invest in India," Rajendran said.
The chamber brought 20 companies specialised in areas urgently required by Saudi Arabia in a roadshow to offer their technology and services to their Saudi counterparts, especially in the areas of energy, education, vocational training, security systems and IT applications.
According to her, there are plans to hold Indian trade and cultural festivals in Saudi Arabia besides organising exhibitions, seminars and cultural programs.
"It will showcase India's products and capabilities including handicrafts and textiles and we are hopeful it would attract a large number of Saudis. We intend to have pavilions of different states like Maharashtra, Rajasthan and Kerala so that Saudis can see the cultural variety of India and this will help attract more Saudi tourists to our country," she said.
