NEW DELHI, 12 September 2007 — Since the inking of Delhi Declaration, signed between India and Saudi Arabia, during the historic visit of Custodian of the Two Holy Mosques King Abdullah, last year in January, the two countries have been taking significant steps toward strengthening and expanding their ties. That Saudi-Indian ties are no longer confined to oil trade was evident at the reception hosted by Saudi Embassy Monday evening, marking Saudi Arabia’s national day. In addition to diplomats, politicians, bureaucrats, clerics, media persons, the gathering including a notable number of academicians and businesspersons.
Strides being taken to strengthen educational cooperation, following the inking of the Agreement on Scientific and Educational Cooperation in November 2006, is indicated by there being, from the current academic year, 100 Saudi students studying in different Indian universities. Most of these were present at the Monday gathering, with some dressed in their traditional Saudi attire. Elaborating on Saudi-Indian cooperation in the educational field, Saudi envoy, Saleh Al-Ghamdi said: “Presently, there are about 100 students who have been sponsored by the government of Saudi Arabia o study in different Indian universities. This number is expected to increase every year.” Saudi Arabia is keen on its young generation acquiring education “relevant to industrial and social progress,” such as that of “engineers, doctors, IT (information technology) specialist, business administrators, legal professionals, specialized areas like nano technology and also other industrial vocational courses,” Al-Ghamdi said. “We expect Indian universities and institutions to provide more dedicated seats to deserving students from Saudi Arabia from the next academic year,” he said.
With Saudi Arabia meeting 26 percent of India’s oil requirement annually, it is the largest supplier of crude oil to India. In the recent years, importance is being given to enhance nonoil trade too, which is reflected by its value touching $3.44 billion in 2005-06. India views Saudi Arabia as an important economic partner for investments, joint ventures, transfer of technology projects and joint projects in third countries. In the recent years, Saudi Arabian General Investment Authority (SAGIA) is reported to have issued 82 new licenses to Indian companies for joint ventures of 100 percent owned entities, in diverse sectors, such as management and consultancy services, construction projects, telecommunications, information technology, pharmaceuticals and others. At the same time, Saudi Arabia is 22nd biggest investor in India with 49 Indo-Saudi or Saudi owned companies in fields such as paper manufacture, chemicals, computer software, granite processing, industrial products and machinery, cement, metallurgical industries, etc.
In the near future, Monday evening’s gathering suggested that, Saudi-Indian business relations may be heading for a major upswing. A leading business executive hinted on his organization’s plans to host a major exhibition in Saudi Arabia in the coming days to further the bilateral trade link. One also ran into a timber merchant from down south, who seemed equally keen to explore chances of tapping the Saudi area for his business. And these are just two of the many considering such plans.
Signaling that Saudi Arabia is interested in promotion of commercial relations with India, Al-Ghamdi said: “We would definitely like to see heavy investments and large industries in both countries to be involved more actively... I invite all Indian corporates to bring in any viable project that they would like to establish in the Kingdom.”
The distinct representation of the Indian government at the gathering was marked by presence of Minister of State for External Affairs E. Ahamed as the chief guest and the two state ministers, Mohammed Ali Ashraf Fatmi (Human Resource Development) and M.M. Pallam Raju (Defense).
A decisive beginning has been made at strengthening Saudi-Indian ties, which has a long way to go, was perhaps symbolically indicated by appreciation voiced by a senior diplomat about his recent visit to Saudi Arabia. “It was my first visit to Saudi Arabia. I loved it. The people there are very nice.”
