On the occasion of 68th Independence Day of India, I have the pleasure to extend felicitations to all Indians residing in the Kingdom of Saudi Arabia.

I also take this opportunity to express my deep sense of gratitude to Custodian of the Two Holy Mosques His Majesty King Abdullah and his Government for their continued support and cooperation. India and Saudi Arabia have made significant progress in all the areas encompassing our strategic partnership.

Saudi Arabia is part of India’s extended neighborhood.

Our geographical proximity, shared interest in the stability and security of our region and complementarities of interests in energy security make India and Saudi Arabia natural partners.

Both the countries share centuries old contacts nurtured by trade and commerce and reinforced by traditional links.

A large number of Indians have been visiting the Kingdom every year to perform Haj and Umrah.

Our forefathers have contributed immensely in strengthening the age old relationship between our two countries.

The Delhi Declaration issued during the visit of King Abdullah to India in 2006 provided a roadmap for deepening our political and economic engagement.

The Riyadh Declaration of 2010 elevated our relationship to a strategic partnership focusing on political, security, defense and economic relations.

Prince Salman, Crown Prince, Deputy Prime Minister and Minister of Defense, visited India in February 2014 and met with the Indian leadership.

During his visit, Memorandum of Understanding on Defense Cooperation was signed.

There has been a regular exchange of high level visits between India and Saudi Arabia, and in the last few years Indian Ministers of Defense; External Affairs; Overseas Indian Affairs; and Finance have all visited the Kingdom and met with the Saudi leadership.

These exchanges have contributed to further strengthening our bilateral political, economic, cultural and defense relations.

We have put in place a robust framework and an environment conducive for expanding trade and investment.

The India–Saudi Arabia Joint Commission, which met in Riyadh in January 2014, identified several sectors for cooperation including pharmaceuticals, textiles, ICT services, financial and Insurance services to further enhance bilateral trade.

India-Saudi Arabia bilateral trade has been witnessing upward trend since the last few years.

The bilateral trade volume in 2010-11 was $25.1 billion, which increased to $48.75 billion in 2013-14, showing an increase of 94 percent during last three years.

Indian exports in 2010-11 were $4.75 billion while it grew to $12.21 billion in 2013-14, registering an increase of 157 percent.

India imports around 19 percent of crude oil requirements from Saudi Arabia.

While oil constitutes the bulk of our bilateral trade, in the recent years non-oil trade has been witnessing significant growth, reflecting diversification of our trade relations.

Many Indian companies have expanded operations in the Kingdom and have bagged prestigious projects in the Kingdom.

There remains vast untapped potential and the current trend indicates that our bilateral trade could reach $100 billion in the next 5 years.

Indians constitute the single largest expatriate community in Saudi Arabia and the largest Indian passport holding community in any country outside India.

They contribute significantly toward the development and diversification of the Saudi economy, a fact well acknowledged and appreciated.

Indians are the most industrious, law abiding and peace loving expatriate community in the Kingdom.

Indian expatriates are deeply engaged in the development of the Kingdom and are working at various levels in all sectors of Saudi economy.

Over the years, Indians working here have earned an excellent reputation which makes them the most preferred expatriate community in Saudi Arabia.

In cooperation with Saudi authorities and with the help of dedicated volunteers and social workers, the embassy will continue to render all possible assistance to them for their welfare.

We have a vibrant and forward looking bilateral relationship growing day by day through deeper political and economic engagement and people to people exchanges.

I thank the leadership of Saudi Arabia for hosting a large Indian community and taking interest in the issues concerning their welfare.

I conclude by expressing my strong confidence that the India-Saudi relations will continue to grow and contribute to peace, stability and prosperity in the region and beyond.

—

Hamid Ali Rao, Ambassador of India