Indian Consul General Md. Noor Rahman Sheikh, while stressing the tremendous improvement in the investment climate in India, also highlighted the surge in the bilateral trade between India and Saudi Arabia after the visit of Indian Prime Minister Narendra Modi to Saudi Arabia in 2016 and the recent visit of Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, to India in February 2019.
He was speaking at an India Investment Seminar held here at the Jeddah Chamber of Commerce and Industry (JCCI) on Thursday. Invest India, a body under Ministry of Commerce & Industry, government of India, organized the seminar in active collaboration with the Consulate General of India, Jeddah, Saudi Arabian General Investment Authority (SAGIA) and JCCI.
The objective was to realize the investment interest indicated in excess of $100 billion during the visit of Crown Prince to India.
Sheikh assured the Saudi businessmen of all possible assistance from the Indian Consulate to Saudi nationals in connecting them with Invest India and other concerned authorities in India to facilitate their investments in India as well as to the Indian businessmen/companies to facilitate their business in the consular jurisdiction of this Consulate.
In opening remarks, Ibrahim Hasan Dahlan, secretary general at JCCI, assured the Indian Consulate and the visiting delegation of all possible help in connecting Indian businessmen with the Saudi businessmen in Jeddah.
The Invest India delegation included Varun Sood, senior AVP; Ms. Astha Tyagi, senior manager; and Achal Walia, manager.
During the seminar, Invest India team highlighted the tremendous transformation that India has undergone over last five years and the improvements across most economic, business and regulatory parameters.
Over these years, India’s ability to absorb large investments has gone up substantially backed by game-changing regulatory overhaul of the economy. The country has thus been among the highest recipient of foreign direct investments (FDIs) over the last five years.
The delegation head also expounded the possible areas of interests in which Saudi investors to invest, while also answering queries of how Invest India could be of assistance to the Saudi businessmen in furthering their interest in India in the areas of their specific interests.
Invest India is the national investment promotion and facilitation agency of the government of India, mandated to facilitate investments into India. It operates under the aegis of Ministry of Commerce and Industry, government of India, and serves as the preferred point of reference for investors considering a location, industry or partner in India.
Invest India’s team of domain and functional experts provide sector-and state-specific inputs, and hand-holding support to investors through the entire investment cycle, from pre-investment to decision-making, to after-care and grievance redressal.
Additionally, all facilitation and hand-holding support to investors under the “Make in India” program is being provided by Invest India. All the services provided by Invest India are pro-bono.
For more information about Invest India and to get all possible support regarding Investments in India, Saudi businessmen may visit their website. They pointed out that businessmen should also view the India Investment Grid (IIG) initiative of Invest India — an interactive and dynamic national web portal showcasing information on investible projects (government and private) across India.