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New scheme ...... to transform India into a manufacturing hub.

India seeks Saudi investment in manufacturing sector

JEDDAH, December 6, 2014

India called upon the business community in Saudi Arabia to invest in the country's manufacturing sector, promising an easier and shorter bureaucratic procedure.

The "Make in India" campaign was launched by Prime Minister Narendra Modi in September to transform the country into a manufacturing hub.

Lauding the scheme, Indian Consul General BS Mubarak said it aims at eliminating unnecessary laws and regulations and make government more transparent, responsive and accountable.

Mubarak said it offered Saudi businessmen a good opportunity to invest in India's vital sectors such as automobiles, aviation, construction, electronic systems, IT, food processing, oil and gas and petrochemicals.

He was addressing a gathering of local businessmen and entrepreneurs at Jeddah Diwaniyah.

"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," stated Mubarak.

According to him, India was also seeking foreign investments in biotechnology, defence manufacturing, electrical machinery, media and entertainment, mining, pharmaceuticals, ports, railways, renewable energy, roads and highways, space, textile garments, thermal power, tourism and hospitality sectors.

"This 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," he added.-TradeArabia News Service




Tags: Saudi | India | investment | manufacturing |

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