RIYADH, 11 May 2008 — With increased opportunities for infrastructure development, India is eyeing new ventures in electrical and electronics sectors in the Kingdom.
“We have got good response from our Saudi partners to initiate new areas of cooperation in the fields of power and electronics,” said Sanjeev Sardana, leader of the Indian trade delegation, currently visiting the capital. He was speaking to the press following his talks with Hamad Saleh Al-Homaidan, assistant secretary general of the Riyadh Chamber of Commerce and Industry (RCCI), and Saudi businessmen in the capital yesterday.
Al-Homaidan said that the Saudi businessmen are keen on having trade partnership with Indian companies. “We also welcome our Indian partners to invest in some of our projects that would yield attractive dividends,” he added.
The eight-member team is representing the Indian Electrical and Electronics Manufacturers Association (IEEMA), which is the apex body representing 550 members whose combined annual turnover is over $22 billion.
Sardana hoped that Indian companies would soon start new ventures in Saudi Arabia in the relevant fields with investments running up to SR100 million.
A leading Indian company is currently carrying out a project worth SR10 million with Kanoo Group for the manufacture of energy saver lamps.
