Saudi Arabia has emerged as a lucrative investment destination for Indian firms with over 190 of them getting licenses from the Saudi Arabian Investment Authority over the past two years.
These companies are capable of pumping more than SR4 billion (Rs 43,673 crore or Rs 436.73 billion approximately) to the Saudi economy, Adnan Al-Naeem, deputy secretary general of the Eastern Province Chamber of Commerce and Industry, said after a meeting with an Indian business delegation on Monday in Dammam.
The visiting delegation, led by G M Gandhi, explored investment opportunities in the region and expressed their desire to establish joint ventures in plastic and derivatives industries.
Gandhi said there was a great scope for joint ventures