[gallery td_select_gallery_slide="slide" ids="26882,26884"] Hassan Cheruppa Saudi Gazette JEDDAH — India's consul general and over a dozen professional experts underscored the need for optimum utilization of the vast investment opportunities available in several key sectors in the country. They were speaking at an event with the theme of "India: Emerging economy with emerging opportunities" held at the consulate conference hall to mark the 14th Pravasi Bharatiya Divas (PBD) on Saturday. More than 100 Indian professionals and Saudi figures attended the event, organized by the Indian Consulate General in association with the Saudi Indian Business Network (SIBN). Prominent Indian community leaders Rafiudin Fazulbhoy and Dr. M.S. Karimuddin, who are recipients of Pravasi Bharatiya Samman Award, were felicitated on the occasion. Inaugurating the event, Consul General B.S. Mubarak has said that India is emerging as one of the fastest growing economies and manufacturing hubs in the world. "With the slowing down of the Chinese economy, it's now India's time. There has never been a better time than now to make in India as well as to invest in India," he said. In the keynote speech, Mubarak highlighted the major initiatives taken by the government of India to strengthen the investment climate in the country and to make it one of the strongest economies in the world. "India has become one of the 10 major foreign direct investment (FDI) destinations in the world and an emerging hub for manufacturing. By taking advantage of this, several global powers including France, Germany, Japan, and Russia have come to invest in India with pumping billions of dollars." The consul general said India has the big potential for investment, thanks to its advantages of having abundant skilled manpower, booming middle class, economic and political stability, and a much liberalized FDI policy." Mubarak said that 25 sectors have been identified as key sectors for investment as well as to materialize the Modi government's slogan of ‘Make in India.' "Defense, electronics and aviation are foremost among them, as the government pursues a policy of import substitution through manufacturing products in the country itself. Textiles and leather are other very significant sectors," he said, adding that India is abundant with the raw materials for becoming a manufacturing hub. He cited the example of leather in this respect. "India exports 50 percent of raw leather to the world while India's stake in finished leather products stood at merely three percent. China, which manufactures 30 percent of finished leather products, imports raw leather mainly from India." He also highlighted the business friendly reforms being carried out by the government of India where by many new business opportunities have been emerged. Mubarak drew attention to the vast opportunities in mega projects such as industrial corridors, and smart cities. Thirteen Indian professionals who are experts in various fields had their presentations on various topics on the occasion. Danish Abdul Ghafoor from Drive Dentsu spoke about the role of social media in business development. Mohammed Muzammil Riyaz, working at Islamic Development Bank, gave a presentation on opportunities in Startups. The presentation of Mohammed Hyder from Etisalat Mobily, on innovation and change, was highly thought provoking. Asim Zeeshan of Saudi Arabian Drug Stores Company presented emerging trends of Indian pharmaceutical industry. The presentation of Vijay Soni, treasurer of SIBN who works at Saudi Arabian Glass Co. was about the challenges and opportunities in the changing oil economy. Mohammed Sheriff, working for Arabian Technical Trading Est., unveiled in his presentation the opportunities in pollution monitoring in the Kingdom. Naveen Kumar from Growth Consulting presented emerging talents and opportunities available to young entrepreneurs. Majeedul Hasan, who works at AIC, presented potential opportunities in renewable energy. Mohammed N. Al Qureshi from Saudi Digital Marketing spoke about emerging digital marketing trends. Suresh Kumar from Skitnet spoke about his initiatives with Make in India. The presentation of Anindya from Saudi Binladen Holding was about the opportunities in the field of construction industry in the Kingdom. Gazanfar Ali Zaki, executive secretary of SIBN, shared enormous opportunities in the field of education while Javid Ahamed from Quartz spoke about creative leadership. The program was compered by SIBN's General Secretary Majeedul Hasan and Asim Zeeshan, event management coordinator. The event was supported by the commercial section of the Indian Consulate headed by S.R.H. Fahmi, consul (commerce & CW)/HOC along with Amjad Shareef, MRA. Zakaria Biladi from Marketing Support Services had made necessary logistical arrangement.
