India seeks Saudi investment
Friday, 6 January 2012
NEW DELHI, Jan 5 (PTI): India Wednesday sought investment in its infrastructure sector from Saudi Arabia, which is looking for stepping up commercial engagement with New Delhi amid a lack of opportunity in crisis-ridden Europe and uncertainty in the US.
A high-level Saudi Arabian business delegation led by Commerce and Industry Minister Tawfeeq Bin Fouzan Al Rabea held a series of meetings with business chambers and Indian ministers, including Finance Minister Pranab Mukherjee and Commerce Minister Anand Sharma.
"We look forward to Saudi investment for development of our infrastructure and in other sectors," Mukherjee said during his meeting with the Saudi delegation.
The two countries, he said, "need to develop strategies with a view to increase the volume of our trade in traditional items as well as diversifying the existing basket of traded goods... There is immense potential for increasing our trade in services as well."
India-Saudi Arabia bilateral trade totalled USD 25 billion in 2010-11.
A high-level Saudi Arabian business delegation led by Commerce and Industry Minister Tawfeeq Bin Fouzan Al Rabea held a series of meetings with business chambers and Indian ministers, including Finance Minister Pranab Mukherjee and Commerce Minister Anand Sharma.
"We look forward to Saudi investment for development of our infrastructure and in other sectors," Mukherjee said during his meeting with the Saudi delegation.
The two countries, he said, "need to develop strategies with a view to increase the volume of our trade in traditional items as well as diversifying the existing basket of traded goods... There is immense potential for increasing our trade in services as well."
India-Saudi Arabia bilateral trade totalled USD 25 billion in 2010-11.