Saudi-Indian relations are forging ahead on the parallel bar of trade and investment between the two countries as the bilateral trade surged from $2.63 billion in 2005 to over $3.44 billion last year, an increase of over 28 percent. Bilateral investment was also on the upswing. The Saudi Arabian General Investment Authority (SAGIA) issued during the last two years 190 licenses to Indian companies for joint ventures or 100 percent-owned entities in the Kingdom in different sectors, such as telecommunications, IT, construction projects, electronics and home appliances, engineering goods and jewelry etc, according to a report published today by Arab News in its "India-Independence Day Supplement." These joint ventures were expected to net a total investment of around SR 4.113 billion in the Kingdom. --MORE
