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Saudis keen to invest in Indian food sector: Envoy

IANS  |  Bengaluru 

was keen to invest in the Indian as was one of the largest exporters of grains and vegetables to the desert kingdom, its to said on Tuesday.

"We are looking to invest in the Indian food sector, particularly in packaging, storage and transportation, as is one of the largest exporters of and vegetables to our kingdom," Sati told an interactive session with India Inc here.

In view of the 30 per cent wastage in the Indian farm sector due to bottlenecks in storage, packaging and transportation, the said investment by would benefit both the countries.

Projecting a 10 per cent increase in bilateral trade between the two countries this fiscal (2018-19) from $27.5 billion last fiscal (2017-18), Sati said there was immense scope to boost it further by investing in agriculture, chemicals, fertilizers and tourism.

"There is a great potential for tourism as we are reducing our dependency on We are expecting about 8 lakh Indians to visit our country this year as against 5 lakh last year," said the

Calling upon India Inc to explore business opportunities in his country, the told the members of the (CII) apex body to invest in the education and IT sectors to benefit the 3 million Indian expats in the kingdom.

said IT, IT-enabled services, pharmaceuticals, life sciences, manufacturing, power, energy, transport and logistics, and beverage, infrastructure and construction, and and automotive were the key sectors for trade between the two countries.

"As relations between the two countries were robust and vibrant, there is huge potential to expand the cooperation in unexplored areas. India can be a strong partner in Saudi Arabia's expansion process," added Nair.

Earlier, Sati called on Chief at the state Secretariat in the city centre along with former and

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 04 2018. 20:06 IST
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