Hassan Cheruppa Saudi Gazette JEDDAH – Over 80 leading Indian companies and business groups are showcasing their products at the four-day Jeddah International Trade Fair (JITF) 2013 which begins today (Sunday). India, with a separate pavilion, has the largest ever participation in the 25th edition of the multi-sectoral trade expo. Indian business leaders and top executives were treated to a reception party hosted by the Indian consulate general and Saudi Indian Business Network (SIBN) at Park Hyatt Hotel on Saturday afternoon. Addressing the gathering, Faiz Ahmad Kidwai, Indian Consul General and Vice Patron of SIBN, said Indian companies have the largest ever participation in the history of JITF. Some business leaders who are part of the huge Indian contingent told the Saudi Gazette that they are eager to cash in on the immense potential of Saudi market in several key areas, particularly information technology, textiles, industrial engineering, tourism, education, agriculture and pharmaceuticals. Manjeet Kaur, Joint Director of the Associated Chambers of Commerce and Industry of India (ASSOCHAM), said Indian companies are now aggressively exploring the vast potential of Saudi market. “We have developed very good cooperation with the Council of Saudi Chambers, and on the basis of this, we are now here to enhance interaction and further boost partnership with the Saudi business community,” she said. About 30 Indian companies are participating in the fair under the banner of ASSOCHAM. Sunanda Rajendran, Executive Director of the Indo-Arab Chamber of Commerce and Industries (IACCI), said her chamber came to study and discover the actual requirements of the Saudi market. “Ours is the first Indian chamber to sign an agreement SIBN for strengthening bilateral business relations. We are encouraging and promoting trade and business in more areas between the Saudi and Indian businessmen and investors,” she said. Sunanda leads executives of a group of 20 companies under IACCI. Shahal H. Musaliar, chairman of the Cashew Export Promotion Council of India (CEPCI), said Saudi Arabia and other Gulf states are leading exporters of Indian cashew products, which are known for their best quality worldwide. Ghildiyal told the Saudi Gazette that both the Indian government and the business leaders realized the significance of turning into the Saudi market. “Last year, we had the participation of only a couple of Indian companies in JITF, and this year this jumped to about half of the total participating companies,” he said, noting New Delhi's picking of Saudi Arabia as one of the few countries for promotion of exports. Soni said the participation in JITF has provided a good platform for Indian companies to come and benefit from the vast opportunities in the Kingdom. “We are on a bullish path to convince leading Indian companies to come to the Kingdom to tap the potential, and this time, we have scored resounding success in this respect,” he said. Hussam Al-Kahtani, CEO of Hussam Al-Kahtani Trading Co., said that his company is a trading partner of several Indian oil giants such as Reliance Group, Bharat Petroleum, and Indian Oil Corporation. “The Jeddah fair will be a giant step in further strengthening the business ties between the Saudi and Indian oil companies,” he said. Indian business leaders who arrived to take part in the fair also include Kripabar Baruah, Assistant Director of Synthetic & Rayon Textiles Export Promotion Council, and Ravinder Kumar, official of Export Promotion Council for Handicrafts. Moreover, Kidwai also announced the holding an exclusive Indian Festival in the Kingdom next year. Inviting Saudi businessmen and investors to India, he drew attention to a unique feature of the Indian market – “lower production cost plus less complex technology.” “India and Saudi Arabia are moving in the same direction in economic prosperity. Together, we can score excellent success stories in several key areas,” he said, while urging Indian business community to tap the immense potential of the Saudi market. Vijay Soni, treasurer of SIBN, Zahour Siddique, Vice President of Al Harthy Company for Exhibition, and Ishtiaq Ali, board member of IACCI, also spoke on the occasion. Madan Kumar Ghildiyal, consul (commercial), welcomed the gathering while Kader Memon, secretary general of SIBN, gave the vote of thanks. Consuls general of UAE and Qatar were also present.
