Indian textile manufacturers visit Riyadh
An Indian trade delegation consisting of representatives of the cotton, fabric, and textile sectors recently visited the Kingdom of Saudi Arabia, according to Al-Jazirah daily. Meeting with officials and executives from the Saudi Chamber of Commerce and Industry, the delegation discussed ways to enriching bilateral exchanges and cooperation in this field.
India is the fifth largest importer of goods from Saudi Arabia and the tenth largest exporter to Saudi Arabia. The value of exchanges between these two states doubled from 5.102 billion Saudi Riyals ($1.3 billion) in 1990, to SR 10.945 billion ($2.9 billion) in 2000. These figures reflect a 115 percent increase.
The number of the Saudi-Indian joint investment projects also grew, from 16 projects with SR 82 million ($21.8 million) in authorized capital in 1990, to 25 joint investment projects with SR 1.232 billion ($320 million) in authorized capital in 2000.
National origins of capital invested in these projects are classified as follows: 7.2 percent from Saudi Arabia, 92.16 percent from India and two percent from various other sources. — (MENA Report)
© 2001 Mena Report (www.menareport.com)