Saudi Arabia seeks Indian investments in various sectors

Mumbai: Saudi Arabia is seeking investments from India in various sectors including information technology, energy and infrastructure. It is estimated that the Kingdom of Saudi Arabia currently presents a business opportunity worth $1.4 trillion in various sectors.

"Apart from the traditional exports of basmati rice, textiles and jewelleries, Saudi Arabia offers huge investment opportunities in promising sectors like IT, infrastructure, energy and services for India," ambassador of India to Saudi Arabia, Talmiz Ahmad, said at function organised by All India Association of Industries and World Trade Centre.

India is Saudi Arabia's fifth largest trading partner and bilateral trade in the 2010 fiscal stood at $21 billion.

Ambassador Ahmad was confident of the relationship prospering in the future with steady growth in bilateral trade at about 30-40 per cent over the years.