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Saudi-Indian Partnerships on Sidelines of Vibrant Gujarat Summit 2017 | ASHARQ AL-AWSAT English Archive 2005 -2017
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Prime Minister Narendra Modi addresses the delegation at the Vibrant Gujarat investor summit in Gandhinagar, January 10, 2017. REUTERS/Amit Dave

Riyadh- Vibrant Gujarat Summit 2017, launched on Wednesday, resulted in several new Saudi-Indian partnerships that target investments in technology of medicine, drugs, health care and related sectors.

Forecasts were made of an increase in Riyadh-New Delhi trade exchange to more than USD40 billion in 2017.

Kamel Al Munajjed, the Saudi co-chair of Saudi Indian Business Council, said in a phone call with Asharq Al-Awsat that “the Saudi delegation discussed, on the sidelines of the summit, possible ways to launch partnerships with Indian companies and to make use of available investment opportunities in the field of health care in both countries.”

“Saudi Arabian General Investment Authority and National Industrial Clusters Development Program submitted a presentation of the major goals of Saudi Vision 2030 as well as the role of investment in achieving them,” he added.

Munajjed noted that the participation of the Saudi delegation in the summit was highly welcomed. He pointed out that the meetings resulted in several partnerships in the field of health and medical industries.

Saudi co-chair hailed signing a bilateral agreement to provide full information for companies through submitting presentations regarding Saudi companies and productive sectors. “Until the conclusion of the summit, meetings will continue to be held,” he affirmed.

Munajjed expressed that the importance of Vibrant Gujarat Global Summit lies in being a platform for launching vital projects that contribute in reinforcing sustainable development in various fields.

A delegation consisting of 35 business men took part in the summit, representing the Council for Saudi Chambers of Commerce and Industry.