Pillar of India Saudi Relations
Saudi Vision 2030
Vision 2030.. So far
- Diverse reforms have been introduced in Saudi laws, regulations, and procedures for better business and social life. Over 197 legislations have been introduced since 2015 to improve the regulatory environment.
- Saudi has brought e-government initiatives. It has supported a digitally-enabled industrial revolution for projects in mining, manufacturing, logistics, and energy through a $453 billion fund.
- Multiple line projects like Line project, the Neom, Red Sea, and Qiddiya are expanding the innovation portfolio.
- In the fourth quarter of 2019, Saudi non-oil economy grew by about 4.5 percent.
- Saudi is prepared to become a global hub for renewable energy (RE) and RE technologies over the next 10 years.
Vision 2030.. So far
- Vision 2030 strategic goals have started creating immense opportunities and an attractive business environment for our strategic partners.
- Indian companies in Saudi Arabia operate in diverse sectors such as management, consultancy services, construction projects, telecommunications, information technology, software development, pharmaceuticals etc.
- In 2020, 44 new licenses were issued for Indian investments.
- Saudi Arabia also had the highest FDI increase to India in 2020 with investments worth $2.81 billion.
- Saud Bin Mohammed Al Sati – Saudi Amb to India
- “As we celebrate Saudi Arabia’s 91st National Day on September 23, we look forward to our continued partnership with India.”
- Saudi Arabia has valued India as a close friend and strategic partner. Our dynamic cultural, socio-economic, and political partnership is based on mutual respect and shared values and interests and shall continue to thrive for the interests of our two friendly people and the people of the region.
- India-Saudi Arab relations have mostly revolved around energy diplomacy. How far do you think India-Saudi can take this relationship beyond uni-dimensionality and create a multi-dimensional convergence?
Latest Burning Issues | Free PDF