ON the auspicious occasion of the 62nd Independence Day of the Republic of India, I extend my warm greetings and best wishes to all members of the Indian community in Saudi Arabia. I also take this opportunity to extend my greetings and best wishes for the happiness and prosperity of our Saudi brothers. On this day, we remember our freedom fighters, who sacrificed their lives to attain independence. I salute them with deep respect. In the six decades after independence, our great nation has achieved remarkable progress in all areas including economic, social, cultural, educational, science and technology and health sectors.
Rapid progress has also been made in frontier areas of space exploration, biotechnology, information technology, information communication technology and nanotechnology. Sustainable growth achieved in diverse sectors coupled with rapid economic growth in recent years has made India stronger and more vibrant.
The significant contribution that the large Indian community has made to the development of the Kingdom of Saudi Arabia has earned generous appreciation from the Saudi leadership as well as the general Saudi populace. During my interactions with the Saudi authorities, I have often heard immense praise of our community for their educational and technical achievements; for their integrity and sense of discipline; and for their honesty and devotion to work.
This is indeed a matter of enormous pride to the community and to me, as the Ambassador of our great nation. I congratulate each member of the Indian community, who, by their skills, hard work and personal qualities have represented the best in India’s intellectual and cultural heritage in the Kingdom and effectively contributed in strengthening our bilateral relations.
The people and the government of India attach the greatest importance and priority to the strong bonds of friendship between India and Saudi Arabia. The visit of the Custodian of the Two Holy Mosques King Abdullah to India in January 2006 was indeed a historic landmark in the political and economic relations between the two countries. We were honored to hear from King Abdullah that he regarded India as his “second home.”
The king’s visit undoubtedly gave a new impetus and has significantly contributed to a qualitative upgradation of the already strong bilateral relationship in various fields. The momentum generated by the visit has been carried forward subsequently by several high level exchanges between the two countries.
The Saudi Foreign Minister Prince Saud Al-Faisal visited India in February this year. His visit was followed by a visit from our External Affairs Minister Pranab Kumar Mukherjee, who arrived in Saudi Arabia in April. During the visit, he had an audience with King Abdullah.
Bilateral relations between the two countries in the field of education have been institutionalized and enhanced with the signing of a MOU on Scientific and Educational Cooperation. Under the King Abdullah Scholarship Program (KASP), over 150 Saudi students have proceeded to India to pursue various courses of higher education.
Remarkable progress has been achieved in our bilateral economic and commercial relations, which date back several centuries. While India is the fifth largest trading partner for Saudi Arabia, the Kingdom is the 15th largest market for India. Saudi Arabia is the largest source of crude oil to India, supplying 26 percent of its total crude requirements.
Total Indo-Saudi bilateral trade during 2006-07 was $15.96 billion, of which Indian exports and imports account for around $2,586.15 million and $13,373.44 million respectively. There has been a steady progress in the field of investment. The Saudi Arabian General Investment Authority (SAGIA) has awarded 190 licenses to Indian companies to establish joint ventures or 100 percent Indian-owned entities in KSA in different sectors, such as petrochemicals, construction, telecommunications, IT and pharmaceuticals. There are around 49 Indo-Saudi joint ventures in India.
With the active support of the people and the governments of the two friendly countries, Indo-Saudi relations are growing in all fields. I look forward to the further strengthening and consolidation of our excellent and time-tested ties, to the mutual benefit of both our countries.
I conclude by expressing full confidence in aa bright future for Indo-Saudi relations and with the firm belief that India and Saudi Arabia can become engines of economic growth by expanding the areas of mutual cooperation and dialogue.
Jai Hind.
