Category
🗞
NewsTranscript
00:00 "Saudi Arabia and India are striving to deepen their economic relations in the biggest way.
00:07 A strong Saudi-Indian direction and investments targeting 100 billion dollars.
00:14 Let's take a look at the deepening of these relations, with the deep roots in both countries.
00:22 First, there are agreements between Saudi Arabia and India, which were signed in 50 agreements,
00:30 through the visit of the Saudi Crown Prince to India.
00:33 This visit witnessed the signing of 50 agreements.
00:36 The most prominent areas of these agreements are information technology, communications, business leadership,
00:41 chemical, energy, and this is important, based on what we will present from the investments of Aramco.
00:47 Aramco was decided and postponed since 2018 and others, as well as advanced industries.
00:55 There is also talk of forming a joint team of Saudi investments estimated at 100 billion dollars.
01:01 50% of these investments will be directed to an oil field in India, and Aramco will invest in it.
01:10 This investment was announced in 2018 and was postponed,
01:17 as the obstacles related to the land and the removal of land and others will be removed
01:22 to complete this half-way, which was decided to be built in India.
01:26 Also, the General Investment Fund, with the opening of a office in Gaft City in India.
01:31 This is the city that raises the tax rates on investments related to the sovereign wealth fund,
01:40 or what is called the tax haven, and therefore, the General Investment Fund may be directed to open a office there,
01:46 according to the statements of the Saudi Minister of Investment.
01:49 We also take a look at the economic relations between Saudi Arabia and India.
01:56 We know that Saudi Arabia attracts many communities, and there are 7% of the total population in Saudi Arabia
02:03 from the Indian community. There are 3.6 million residents from India in Saudi Arabia.
02:10 The exchange rate between the two countries reached, during the past year, about 52 billion dollars,
02:17 which is equivalent to the Saudi currency at the level of oil exports from Saudi Arabia to India.
02:27 India is the second largest trading partner of Saudi Arabia, while Saudi Arabia is the fourth largest trading partner with India.
02:36 The number of Indian companies in Saudi Arabia represents about 400 companies,
02:41 while there are 40 Saudi companies operating in India, and it is decided to increase these investments.
02:49 India is based primarily on Saudi Arabia in its oil.
02:54 Saudi Arabia provides about 18% of India's oil needs for India, according to official data.
03:04 Saudi investment in India reached about 3.2 billion dollars, since 2001 to 2023 in total.
03:13 Saudi Arabia, in a joint statement issued by the two countries,
03:18 said that it is committed to being a trusted partner and a source of raw oil supplies to India.
03:26 The relationship is growing and deepening in the direction of Saudi Arabia through its various companies and platforms,
03:35 including Aramco, Sabeq, and others, towards India for more investments in energy sectors,
03:42 petrochemical sectors, and renewable energy sectors.