JEDDAH — Speakers at a seminar here Sunday shed light on investment opportunities in India and highlighted good trade relations between India and the Kingdom. The seminar entitled “QFI, Qualified foreign investor” and “Indian economy prospects in next decades”, held under the aegis of Saudi Indian Business Network (SIBN), was attended by a large gathering of Saudi and Indian business executives from the city. Khaled Almaeena, Editor-in-Chief of Saudi Gazette was the chief guest while Gurpeet Singh, Regional Manager, Middle East Reliance Asset Management Company India, and R. Krishnan, Director of Aloula Geojit Capital Saudi Arabia, were the keynote speakers. Almaeena appreciated the efforts of the Indian community in Saudi Arabia. “India is not only the land of temples and animals but it's the land of opportunities for business and investments. Saudi Arabia always has good trade relation with India; the two countries are partners in technology, science, education and business and our relationship has been harmonious,” he said. India, Almaeena said, has played a supportive role toward the Kingdom's causes. He praised the role of Indian manpower and expertise in education, construction, banking and other sectors of Saudi Arabia. “They work in very hot weather, and sometimes in difficult living conditions and sometimes with bad sponsors and yet they persevere with patience,” he said. Almaeena thanked the millions of Indians — past and present — for their support and cooperation in “helping build this country.” “They are the ambassadors and lessen the role of diplomats,” he said. M. A. Shamrani, Public Relations Officer at SIBN, recalled his recent visit of India. He visited three places, New Delhi, Bangalore, and Mumbai and liked the Indian culture and traditions. He felt that India is like his second home and a good place for investment. Gurpeet Singh submitted a detailed presentation on “Indian economy prospects in next decades.” His presentation mainly focused on the objectives, development, working, present achievements, future plans, goals and missions of the Indian economy. He described India as a suitable market to invest similar to the developed markets of the United States and others. He urged Saudi investors to start investment in the Indian market. R. Krishnan presented an informative presentation on “Access India through QFI route”, explaining the ‘Qualified foreign investor' program with all its technical aspects. He provided details on the existing investment programs and different corridors of QFI, like the investment basket, investment facilitator, process, eligible transactions etc. He also added that many Indian companies are now offering Shariah-based programs. Inspired by his speech, two Saudi businessmen, Shaikh Imad A. Rahman Munshi and Amer Siddiki, became the first QFI members to invest in India. The final presentation was given by Mohammad Alungal, Chairman and MD Al-Abeer Medical Group and the main sponsor of the event on “Investment on education and health care in India.” He shed light on investment in the education field, and particularly Kerala's investment opportunities with its natural beauty. A short video on Al-Abeer Educity in Kerala was also presented.
