Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

India offers help for Saudi entrepreneurs to set up SMEs  Join our daily free Newsletter

MENAFN - Arab News - 18/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The Indo-Arab Chamber of Commerce and Industries has offered support to young Saudi businessmen and engineers to set up small and medium enterprises (SMEs) by providing them with training and technology.
"During our roadshow here, I met 27 Saudi engineering students who want to do business with India and get training to start their own SMEs in Kingdom. I was really impressed by their innovative ideas," Sunanda Rajendran, the chamber's executive director told Arab News.
"Our chamber is ready to invite these young Saudi men and women to India to provide them with training in areas where they want to open enterprises," Rajendran said while urging more Saudi businessmen and businesswomen to invest in her country.
She described Saudi Arabia as a fastest growing economy in the Middle East, with greater potential than any other country in the region. She also highlighted the growing Saudi-Indian economic and trade relations.
"Trade exchanges between the two countries are expected to hit 50 billion shortly. We are now seeking more Saudi investment, especially in education, healthcare, energy and power and tourism," she said.
Saudi Arabia is the fourth largest trading partner of India, Rajendran said. "We have identified 133 Indian companies to register with Saudi Arabian General Investment Authority (SAGIA) and hope at least half of that number from Saudi companies to invest in India," she said.
Speaking about the roadshow, she said the chamber has brought 20 companies specialized in areas urgently required by Saudi Arabia to offer their technology and services to their Saudi counterparts, especially in the areas of energy, education, vocational training, security systems and IT applications.
She disclosed plans to hold Indian trade and cultural festivals in Jeddah, Riyadh and Dammam in September with the support of the two governments and their embassies. The festival will include exhibitions, seminars and cultural programs.
"It will showcase India's products and capabilities including handicrafts and textiles and we are hopeful it would attract a large number of Saudis. We intend to have pavilions of different states like Maharashtra, Rajasthan and Kerala so that Saudis can see the cultural variety of India and this will help attract more Saudi tourists to our country," she said.
"We have not yet finalized its dates and programs. We need sufficient time to do marketing and get visas." Rajendran wanted to organize the festival on a large-scale to get an international exposure.
The IACCI executive director highlighted the incentives offered by the Indian government to foreign investors. "It is easy to get licenses and investors are assured of full protection and 100 percent repatriation of profits in addition to tax benefits one-shop services. We have publicized a book called Doing Business in India."
Rajendran stressed that Indian companies dealing with Saudi businessmen should use the assistance of an interpreter to overcome the language barrier. "If they cannot afford or find one we are ready to help them," she said.
She said her chamber was not facing any problem to get Saudi business visas. "I have been receiving one-year multiple entry visas for the last 10 years. I have been receiving this visa without any letter from the Indian Embassy or consulate," she pointed out. "We have to follow the Kingdom's rules and regulations, which are made for our own security and safety. If you suffer even after following the law, then your complaint is justified." She advised Indian companies to try to get visas through their Saudi counterparts rather than agents.

 


Arab News




  MENA News Headlines
 Dec 22 2014 - MoI discusses setting up national strategic plan to fight drugsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The Ministry of Interior, MoI, has discussed ways to establish the first national strategic plan to combat drugs. The discussion took place during a specialised ...

 Dec 22 2014 - GCC Secretary-General hails initiative of Saudi King on Qatar, Egypt reconciliationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Dr. Abdullatif bin Rashid Al Zayani, GCC Secretary-General, expressed satisfaction with the initiative of the Custodian of the Two Holy Mosques, King Abdullah ...

 Dec 22 2014 - Etihad Airways goes double daily to MelbourneEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Etihad Airways today announced plans for a second daily non-stop service between Abu Dhabi and Melbourne from 1st August 2015.The additional flight will be ...

 Dec 22 2014 - Dubai Municipality launches recycling initiative at Safa ParkEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Dubai Municipality has launched an initiative to encourage Safa Park visitors to exchange their recyclables, such as plastic and cans, in exchange for Union ...

 Dec 22 2014 - Ducab Aluminium begins construction of new facility in KizadEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Abu Dhabi Ports Company, ADPC, has announced that Ducab Aluminium Company has broken ground for its new aluminium rod and conductor facility at Kizad.After ...

 Dec 22 2014 - Kuwaiti Emiri Diwan mourns death of Sheikha Sabah Al-Nasser Al-SabahEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The Kuwaiti Emiri Diwan today mourned the death of Sheikha Sabah Al-Nasser Al-Sabah, spouse of His Highness Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah.According ...

 Dec 22 2014 - OPEC daily basket price Friday 19th DecemberEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The price of OPEC's basket of twelve crudes stood at US$55.52 a barrel on Friday, compared with $56.30 the previous day, according to OPEC Secretariat ...

 Dec 22 2014 - World Islamic Travel Summit to debut in Abu DhabiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The World Islamic Travel Summit, WITS15, the largest showcase of Halal travel and tourism solutions, is to debut in Abu Dhabi next October.The pioneering ...

 Dec 22 2014 - DEWA sponsors first Emirati student to Lima Climate Change Conference in PeruEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Bader Al Hammadi, an Emirati student and Carbon Ambassadors Programme member, has participated in the United Nations COP20 Climate Change conference in Lima, ...

 Dec 22 2014 - China tops Algeria's supplier list for second yearEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  China has emerged as Algeria's largest supplier in the first 11 months of 2014, figures from customs showed on Sunday.China topped the list of the largest ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help