(MENAFN) India intends to improve trade, business and investment with Saudi Arabia by establishing a Saudi-India Business Network (SIBN) in Riyadh and Dammam, reported Arab News.
Bilateral trades between the two countries hit USD43.19 billion in the past two years. The gulf kingdom is India's fourth biggest trade partner. India gets 17 percent of its oil from Saudi Arabia.
Also, 1.86 of India's exports goes to the Kingdom and 6.35 percent of imports are from Saudi markets, thus, making India the fifth largest market for Saudi Arabia with 7.55 percent of exports being shipped to India.
The SIBN will include businessmen, industrialists and members of business chambers from both India and Saudi Arabia.
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