According to an Arab News report, the main objective of 'India Caltex' exposition is to further enhance the economic and commercial relations between India and Saudi Arabia, the First Secretary and Head of the Commercial Section at the Indian Embassy, Ashok Warrier is quoted as saying.
Warrier said that similar catalog shows would be conducted in other cities of Saudi Arabia including Dammam in the coming days. What is more, the exhibition is the right platform for the dissemination of information about world class products and services of Indian firms.
India Caltex is designed to showcase the business potential of various Indian firms, which operate in one of the fastest growing economies in the world, the report said. Warrier said: "This exposition would be an easy and affordable way to touch base with a humungous number of qualified Saudi Arabian entrepreneurs'.
The exhibition will be a perfect gateway for buyers, representatives, licensing and joint venture partners, who have interest in forging alliance with Indian business houses. According to the official, a sizable number of product catalogs and CDs of various sectors of Indian trade and industry would be premiered at the event. Open for all, the exhibition would start at 9.00 am and will go up to 1.00 pm.
"With the great response and success of the previous editions of catalog exhibitions, organised by the Indian Embassy, this has now turned out to be a regular affair, attracting more and more participants. The Indian firms, which are taking part belongs to different segments of the industry such as automotive industry, agriculture and food products, construction, building materials, chemicals, electrical products, cosmetics, books, periodicals and electronics.
"India-Saudi Arabia relations have seen significant growth with bilateral trade clocking a three-fold increase in the last few years. What is more, Saudi Arabia is the fourth largest trade partner of Indiaa nd the two-way trade had exceeded $ 25 billion per annum", Warrier pointed out addint that India's import of crude oil formed a key component of bilateral trade with India.
Also the official, while elaborating on the Indian exports Warrier said: "Saudi Arabia is one of the largest markets in the world for Indian exports. In fact, Saudi Arabia is the destination for around three percent of India's global exports. Also, Saudi Arabia is the source of 5.51 percent of India's global imports. India is also a major investor in Saudi Arabia with cumulative incestments in excess of $ 1.6 billion. Last, but not the least, Saudi Arabia is the 45th biggest investor in India with investments from April 2000 to October 2011 touching $ 33.63 million". For a full report, visit http://automotivehorizon.sulekha.com/