Highlighting the potential of “Make in India”, Indian Consul General B.S. Mubarak has showcased its purpose and benefits to Kingdom of Saudi Arabia business leaders, with an aim to increase bilateral trade and seek stronger co-operation between two friendly countries speaking at Jeddah Diwaniyah. The new government in India is giving Make in India a big boost. Make in India is an international marketing campaigning slogan coined by the Prime Minister of India, Narendra Modi on September 25, 2014 to attract businesses from around the world to invest and manufacture in India.
He said emphasis and purpose of Come, Make in India is Aimed at making India a manufacturing hub and economic transformation in India while eliminating the unnecessary laws and regulations, making bureaucratic processes easier and shorter, and make government more transparent, responsive and accountable, The government accentuate upon the framework which include the time-bound project clearances through a single online portal which will be further aided by the eight-member team dedicated to answering investor queries within 48 hours and addressing key issues including labor laws, skill development and infrastructure.
It is also hoped that this is a precursor to change some labor laws that would make investing in manufacturing more attractive to Indians as well as other nations, he said.
Following sectors have been included by the Government of India in this campaign Automobiles, Automobile Components, Aviation, Biotechnology, Chemical, Construction, Defense Manufacturing, Electrical Machinery, Electronic Systems, Food Processing, IT and BPM, Leather, Media and Entertainment, Mining, Oil and Gas, Pharmaceuticals, Ports, Railways, Renewable Energy, Roads and Highways, Space, Textile Garments, Thermal Power, Tourism and Hospitality and Wellness.
Saudi Arabia is the 4th largest trading partner for India with bilateral trade of over $43 billion in 2012-13, which speak for itself and reflects the fact that both countries are developing a broad strategic vision where they are determined to work together closely for the welfare and benefit of their citizens while maintaining peace and stability. Kingdom is the largest supplier of crude oil to India accounting for about one-fifth of total imports in 2012-13.
Consul Commercial S.R.H. Fahmi said that Government of India has launched “Make in India” program in the view of the changing economic conditions to make India a desired destination for investment and trade.
He said that Government of India has taken number of key measures which include permission for foreign portfolio investors to invest in Indian capital markets, reform of labour laws, starting infrastructure projects, simplifying bureaucratic procedures for import & export and taxation, etc.
He said India is set to welcome investment in various industrial and services sectors with investor friendly environment, reduced processing time for licenses, online application and automatic processing in all industries except certain areas in defense.
Emphasizing the importance of visa’s in promoting the business, Consul Consular Pranav Ganesh said that visa issuance has been streamlined with the addition of online visa processing system which the applicants can fill with the ease of sitting in the home or office. He said the validity has also been revised with the provision of one year multiple business visa and Five year multiple visa for Saudi businessmen with strong credentials.
Exposing the vast potential available in Indian in the Information Technology (IT) sector, Tata Consultancy Services (TCS) program Director at K.S.A. P. Hashim said that information technology (IT) and information technology enabled services (ITE’S) industry which has been one of the key driving forces fuelling India’s economic growth. The industry has not only transformed India’s image on the global platform, but also fuelled economic growth by energizing the higher education sector especially in engineering and computer science. He said IT is seen as a change enabler and a source of business value for organizations and helped in employing millions of Indians and contributed a lot to social transformation in the country.
Encouraging the foreign investment in the IT sector, he said there is vast potential and growth opportunities in the IT sector in India with Indian firms, across all other sectors largely depend on the IT & ITE’S service providers to make their business processes efficient and streamlined. Indian organizations are turning to IT to help them grow business in the current economic environment which can be tapped with the availability of massive pool of talented English speaking IT professionals.
Mohammed Al Nafaie, Chairman of ECGS, ATEICO and Digital Technology who was the first to bring IGNOU to Saudi Arabia said there is vast potential in the Education sector in the Indian market and disclosed that his group is planning to divert to Medical tourism in India also.
Speaking at the occasion Saudi Businessman, Khalid A. Al Fouzan, Chairman, Al Fouzan Building Materials Company, appreciated the efforts of the Indian community in Kingdom of Saudi Arabia. He also lauded the efforts of the Indian Consulate in guiding and helping Indo-Saudi relations grow, especially among Saudi and Indian businessmen. He said Saudi Arabia always has good trade relation with India and the two countries are partners in technology, science, education and business with harmonious relationship.
Emad A. Al-Muhaidib, Vice-Chairman, Al-Muhaidib Group of Company said, India has played a supportive role toward the Kingdom’s causes. He said that India and Saudi Arabia enjoy multifaceted relations reflecting the centuries old economic and socio-cultural ties. Saudis are much more interested in investing and trading with India and Indians. The 2.8 million plus Indian community in Saudi Arabia is the ‘most preferred community’ due to their expertise, sense of discipline, law abiding and peace loving nature. The contributions made by Indian community towards the development of Saudi Arabia are well acknowledged. With the look east policy of King Abdullah a major trade boom is expected.
Hussam Al Kahtani, Chairman of Al Kahtani Group of Companies, was the driving force of the event as he personally welcomed all by providing superb hospitality and he welcomed more such meetings between the two communities on regular basis. He praised the role of Indian manpower and expertise in education, IT, medical, construction, banking and other sectors of Saudi Arabia. Hussam thanked the millions of Indians past and present for their support and cooperation in helping to build this country.
Mir Gazanfar Ali Zaki, Executive Secretary of Saudi Indian Business Network (SIBN) and General Secretary of Indian Youth Welfare Association (IYWA) said India and Saudi Arabia enjoy cordial and friendly relations reflecting the centuries old economic and socio-cultural ties. He praised the hospitality of Jeddah Diwaniyah and highlighting the potential of Make in India, with an aim to increase bilateral trade and seek stronger co-operation between two friendly countries.
Dr. Ahmad Al Attas, advisor to president of Saudi Geological Survey, Suhaib Mallisho, CEO of SFAYR, Eng. Al-Hassan M. Al-Shaibani, General Manager of K3, Amjad Shareef commercial section of CGI, Syed Majeedul Hassan SIBN general secretary, Salman Aziz & Nooruddin from Air India, L. Ramnarayan Iyer Chief Patron, Hassan Bayazeed Ather Vice-Patron, S.P. Singh, President, Zubair Mohammed Vice-President, Muzzammil Husain Chief Coordinator, Syed Baqer Ali Media Secretary of IYWA and other prominent Saudi and Indian businessmen attended the event.
Report prepared by
Syed Baqer Ali
Media Coordinator
IYWA
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