On the occasion of the 58th Republic Day of India, I extend my warm greetings and best wishes to all my fellow Indian brethren in Saudi Arabia. On this day I feel proud also to commemorate the 1st anniversary of the visit of Custodian of the Two Holy Mosques King Abdullah to India in January 2006.
The people and government of India attach greatest importance and priority to the bonds of friendship between India and Saudi Arabia. Our relationship draws sustenance from the common ties of our shared history and heritage; as well as the mutual commitments and feelings of respect and affection between our peoples.
India shares with the Kingdom similarity of views on several issues. We have been steadily developing, deepening and diversifying our relations, which are extremely strong today. The visit of King Abdullah to India is indeed a historic landmark in the political and economic relations between the two countries. We were honored to hear from his majesty that he regarded India as his “second home.”
His majesty’s visit has undoubtedly opened a new chapter in bilateral cooperation in diverse fields and has contributed to a qualitative upgradation of the already strong bilateral relationship. There is enormous potential in our relations with the Kingdom of Saudi Arabia and we are determined to enhance the areas of interaction as well as to build on the momentum already achieved.
The past one year has witnessed positive developments which have brought us on to the threshold of a new phase in our bilateral relations. We are in the midst of a serious, constructive and purposeful dialogue process with the Kingdom of Saudi Arabia and we can say with satisfaction that we are moving in the right direction.
As a follow-up to the king’s visit, Saudi Foreign Minister Prince Saud Al-Faisal visited India in February, 2006. He held talks with the prime minister and the petroleum minister. To enhance cooperation in the field of education, as intended in the Delhi Declaration, an Indian delegation led by Human Resource Development Minister Arjun Singh visited the Kingdom in May 2006. The minister met the king and delivered a letter from the Indian prime minister. He also met the minister of higher education, minister of education, rectors of King Saud University, Imam Muhammad ibn Saud University and King Abdulaziz University.
To further improve bilateral relations and for first hand understanding of the conditions of Indian community resident in the Kingdom, Minister of Overseas Indian Affairs Vayalar Ravi visited the Kingdom on a two-day trip in May 2006.
The momentum of bilateral exchanges was sustained by the visit of the Saudi minister for higher education to India. During his visit the memorandum of understanding on scientific and educational cooperation between the two countries was signed. He also met head of several academic institutions and visited many centers of excellence in the field of information technology. The Saudi health minister visited India and during his visit the countries signed a memorandum of understanding to increase cooperation in the health sector. The year also had Saudi justice minister and Saudi deputy minister for education and culture for girls’ education visiting India.
I am pleased to note that the bilateral economic relations are strong and further growing steadily. India is the fourth largest trading partner for Saudi Arabia. Saudi Arabia is the 15th largest market for India and India is the 5th largest market for Saudi Arabia. Saudi Arabia is the largest source of crude oil to India, supplying 26% of India’s total crude requirements. Total Indo-Saudi bilateral trade during fiscal year 2004-05 was around $8.76 billion. Indian companies have established 108 fully Indian-owned entities or joint ventures in KSA. There are around 55 Indo-Saudi joint ventures in India. The seventh joint commission meeting was held in New Delhi on Jan. 18-19, 2007. In the meeting several areas have been identified to further strengthen our cooperation
India has a huge and growing market with a large middle class, abundant raw materials and highly trained and skilled manpower. I invite the business community of the Kingdom to take advantage of these opportunities.
The economies of both India and Saudi Arabia are undergoing a process of rapid economic liberalization and, in this era of globalization, we need to encourage both private and public sectors to establish closer linkages through concerted and sustained interaction on a long-term basis.
I hope that the coming months would witness more exchanges among our people and I believe that in the years to come, the bilateral relationship between our two countries will further consolidate to the mutual benefit of both our countries.
On this auspicious day, I applaud the Indian community for consistently upholding the best values of our nation and playing such a significant role in promoting our nation’s interests abroad.
I conclude by expressing my confidence in a bright future for India-Saudi Arabia relations and with the belief that India and Saudi Arabia can become engines of economic growth by expanding the areas of our cooperation and dialogue.
Jai Hind.
(M.O.H. Farook)
Ambassador of India