DAMMAM, 25 September 2003 — India has invited Saudi businesswomen to participate in the GCC-India conference and exhibition to be held in Bombay next month, according to Eastern Province Chamber of Commerce and Industry sources here.
An official at the Indian Embassy in Riyadh said the conference will focus on the opportunities and challenges facing businesswomen in small and medium enterprises (SMEs).
The chamber official said the Indian meet will give exposure to businesswomen and allow them to establish contacts with fellow businesswomen around the subcontinent and the GCC.
Meanwhile, an Indian multi-product engineering delegation which arrived here Tuesday said Indian companies were now in a position to offer high quality engineering machinery and services. R. D. Sharma, the leader of the Indian team, told reporters at the Eastern Province Chamber of Commerce and Industry here yesterday Indian engineering machinery and equipment were sought after worldwide. Indian exports from this sector rose to over $6 billion in 2002.
Dr. Bassam Boodai, deputy secretary general at the chamber, highlighted the increasing trade relations between the two countries.
Saudi imports from India increased by around 18 percent to SR3.3 billion in 2002. Saudi average exports to India stand around SR12 billion, mainly crude oil.
Sanjay Rana, a visiting Indian diplomat said that the Indian investment in Saudi Arabia had been going up primarily due to revised Saudi foreign investment regulations.
He said Saudi Arabian General Investment Authority (SAGIA) has so far issued 62 licenses for Saudi-Indian joint ventures. Capital investment in these projects from the two sides is estimated at around SR1.5 billion.
