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Saudi woos Indian investors

Saudi Arabia is offering investment opportunities to Indian entrepreneurs in sectors including infrastructure, housing, power generation and tourism.

Abdul Rahman Al-Rabiah, chairman of Saudi-India Joint Business Council (JBC), led a Saudi trade delegation to India 5-8 March, Arab News reports, and said the scale of the opportunity could be as high as $625bn.

“Our relations with India go back hundreds of years. Yet, the results in terms of business exchanges are not to the level we would like to see,” Mr Al-Rabiah said.

He urged Indian companies to take advantage of growth opportunities in the Kingdom, saying that Saudi Arabia is “the youngest nation in the world”, with 67% of Saudis below the age of 27.

Such a young population “would need schools, hospitals, industries to meet their growing aspirations,” Mr Al-Rabiah said, adding that present levels of Indian investment – said to be $400m – was “insignificant compared with the potential”.