The Indian Consulate in Jeddah organized a one-day “India-Saudi Arabia Investment Connect” event at the Park Hyatt on Tuesday, Feb. 25. The main purpose was to provide valuable insights into the business and investment landscape of India by sharing information about the enormous opportunities for untapped trade and investment in the country.
Consul General Fahad Ahmed Khan Suri made the opening remarks. He welcomed the distinguished guests and highlighted the significance of organizing such an event to strengthen the bilateral economic and commercial ties between India and Saudi Arabia.
Indian Ambassador Dr. Suhel Ajaz Khan, in his address delivered virtually, said: “The scale of India’s transformation will shape the future, and deepening our partnership with Saudi Arabia is a win-win for both nations. India’s private sector has already realized this latent potential and has invested over $3 billion in Saudi Arabia. And this is only the beginning.”
Ahmed Al-Juraiyan, central office director, Ministry of Investment for Saudi Arabia, who was the guest of honor at the event, delivered a special address echoing the sentiments expressed by the Indian ambassador by highlighting the immense potential for cooperation between the two countries and the enormous opportunities for Indian investors in Saudi Arabia.
Dr. Jaimini Bhagwati, a former Indian Foreign Service officer, a financial sector and derivatives specialist who has served for over a decade at the World Bank, and who is currently a Distinguished Fellow at the Centre for Social and Economic Progress in New Delhi, delivered the keynote address on the “India Growth Story” and made a compelling case for “Investing in India” from a macroeconomic perspective.
Manusmriti, Counsellor (Economic and Commerce), Embassy of India in Riyadh; Badri Narayanan and Lakshmikumaran from Lakshmikumaran and Sridharan Attorneys; Vaibhav Kakkar from Saraf and Partners Law Offices, and Neeraj Agarwal from Apex Invest, delivered compelling presentations covering the important aspects pertaining to the investment domain.
These included a detailed overview of India-Saudi Arabia economic and commercial partnerships, sectoral investment opportunities in India, delineation of all the technical aspects related to legal and tax regulatory frameworks, mechanisms/routes for foreign direct investment into India, exclusive opportunities for investors in GIFT City, and an overview of the startup ecosystem in India.
Kalyana Sivagnanam, Group CEO, Petromin; Balakrishnan, CFO, Abdul Lateef Jameel Motors, and Puneet Kataria, head of real estate, Gulf Islamic Investment, shared their experiences and success stories of investing in India.
The conference also featured a specially curated panel discussion on the “Mechanics of Investing in India — Decoding the Indian Investment Ecosystem.”
The panel discussion was moderated by Awaiz Patni, Group CFO, Saudi Bugshan Company, and the panelists were Soham Avlani and Raghav Bahl from Promaft Partners, and L. Badri Narayanan from Lakshmikumaran and Sridharan Attorneys. The panelists focused on the conducive environment for investing in India, based on challenges and risk mitigation strategies, and they also spoke about the operational aspects of investing in India.
Various rising startups from India presented their investment pitches at the event and showcased innovative business ideas designed to attract potential investors.
The event was well attended by prominent Saudi businessmen and financial advisers from major business houses in Jeddah and by the friends of India in Saudi Arabia. The event is part of the series of trade and investment promotion initiatives that are being scheduled by the consulate.
