JEDDAH, 17 April 2008 — Indian and Arab business leaders, executives and decision-makers will meet in New Delhi tomorrow to explore investment and business opportunities in their countries and prospects of expanding trade and investment ties.
The meeting, named India-Arab Investment Projects Conclave, is organized by Indo-Arab Economic Forum, an initiative of the Federation of Indian Chambers of Commerce and Industry (FICCI), the largest and oldest organization of Indian business.
“The conclave is targeting business people and investors interested in establishing or expanding their existing projects through investments,” Rafeek Younus, managing director of the Dammam-based Saudi Engineers Group International, told Arab News.
Younus, who has played a significant role in promoting joint ventures between Saudi Arabia and India, said the conclave offers a golden opportunity for Arab investment promotion agencies including Saudi Arabian Investment Authority to showcase their opportunities and seek partnerships with Indian and Arab companies.
The event will focus on engineering and construction, banking, venture capital and insurance, education, information technology, petrochemicals, oil and gas (upstream and down stream), infrastructure (rail, road, airports, sea ports, energy, water, communications etc.), real estate, special economic zones, healthcare, tourism, transportation and food processing. Younus, who has already left for New Delhi to participate in the event, said the forum was considered a premier destination for forging partnerships between Arab Countries and the private sector of India.
India, one of the fast growing economies in the world, needs new infrastructure projects worth more than $500 billion in the next five years. The two-day event, to be held at the Federation House in New Delhi, will highlight investment opportunities worth $100 billion in India and Arab countries, organizers said. There will be presentations by Arab and Indian executives on investment opportunities.
FICCI is the rallying point for free enterprises in India. It has empowered Indian businesses to shore up their competitiveness and enhance their global reach.
Indo-Arab Economic Forum (IAEF) shares a common vision of developing vibrant economic, social and cultural bonds between the Arab countries and India. IAEF acts as a catalyst and facilitator in strengthening these traditional friendly ties. The forum brings together invaluable experience and expertise of the professionals across the sectors from industry, institutions and governments, who have made significant contributions in their fields in India, Middle East and North African countries.
