Batterjee calls for enhanced Saudi-India trade ties

Saudi Arabia and India should work at increasing their trade from $ 46 billion to $ 100 billion by 2020, Mazen Batterjee, president of the Saudi Indian Business Network (SIBN) and vice-chairman of the Jeddah Chamber of Commerce and Industry (JCCI), said in his welcome address at the seminar here recently.
The seminar, organized jointly by the SIBN and the JCCI, covered such issues as “prospects of Indian economy in the coming decade,” “qualified foreign investors” and “promotion of products made in Saudi Arabia.”
Consul General Faiz Ahmad Kidwai said that SIBN and JCCI have long relationship, which is being strengthened under the leadership of Batterjee. He said that both India and Saudi Arabia are large and politically stable countries on a high growth trajectory.
Kidwai thanked the chamber for providing facilities to the Indian consulate as well as other consulates in Jeddah for the welfare of expatriate workers during the last three months of amnesty.
Sajith Kumar, CEO of IBMC Financial, Dubai, said that India’s GDP is estimated to grow from $ 1.8 trillion to $ 6 trillion in the coming decade, adding that India will be the second largest economy in the world by 2025.
Ibrahim Maiga, general manager of Tasdeer, informed the gathering about the finance facilities being offered by his company, Saudi banks and financial institutions.