On the occasion of 64th Republic Day of India, I extend my good wishes and felicitations to all my fellow citizens residing in the Kingdom of Saudi Arabia. The historical ties between India and the Arabian Peninsula in the realms of commerce, trade and culture impart it a distinct character that transcends conventional boundaries of human engagement. In the present times, the level of bilateral engagement between India and Saudi Arabia has touched a new high. The landmark visits of Custodian of the Two Holy Mosques King Abdullah to India in January 2006 and the visit of Prime Minister of India, Dr. Manmohan Singh, to Saudi Arabia in 2010 gave a renewed impetus to the bilateral engagement. The Delhi and Riyadh declarations have provided the framework and the road map to elevate bilateral relations and heralded a new era of strategic partnership between the two countries. The recent growth registered in bilateral trade has been impressive, to say the least. From $15.94 billion in 2006-07, bilateral trade in 2011-12 has exceeded $36 billion. The two-way trade figures from April-November 2012 stood at $27 billion, registering a 15.15 percent increase over the same period in the last year. Today, Saudi Arabia represents the fourth largest trading partner for India and it remains the largest supplier of crude oil to India, meeting around a quarter of its requirement. Indian investments in Saudi Arabia have exceeded $1.6 billion covering a wide spectrum of sectors including management and consultancy services, construction projects, telecommunications, information technology, pharmaceuticals, etc. There are a number of Indo-Saudi joint ventures and Saudi-owned companies operating in India, in sectors like paper manufacture, chemicals, computer software, granite processing, industrial products and machinery, cement, metallurgical industries, etc. Of late, there are heartening signs of Saudi investors looking forward to investing in India, particularly in sectors like infrastructure and real estate. There exists considerable scope for diversification of trade relations and further strengthening our economic ties. Last year, a 45-member Saudi Youth Delegation visited three cities in India, namely Hyderabad, Bangalore and New Delhi. The Saudi Ministry of Foreign Affairs sponsored the 10-day mission, which visited centers of excellence, business houses and hospitals, besides exchanging ideas with the Indian youth and meeting with Indian officials. Recently, an “Indian Cultural Week” was held in Riyadh in association with the Saudi Ministry of Culture and Information in which a 54-member Indian delegation participated. There are a large number of Indian expatriates residing in Saudi Arabia and their contributions to the overall progress and development of the Kingdom has been well acknowledged and appreciated. The credential of the Indian community as peace loving, hard working and law-abiding residents is well established. The fact that so many of my fellow citizens are residing in this friendly country is in itself a testimony to their wider acceptance by the Saudi people and the government. I would like to thank King Abdullah for the continuous support and patronage extended to the Indian community in the Kingdom. The new era in which India-Saudi relations have entered is resplendent with promise and hope. While so much has been attained in the last decade, the future appears brighter, opening new vistas of joint cooperation and avenues of yet-to-be tapped opportunities, for the betterment of the peoples of the two countries.
