Over 40 Indian firms have established regional HQs in Saudi Arabia, official reveals
RIYADH: More than 40 Indian companies have established headquarters in Saudi Arabia, with additional facilities in the defense sector expected in the near future, according to a top official.
Abdulaziz Al-Qahtani, chairman of the Saudi-Indian Business Council, made the comments as Indian Prime Minister Narendra Modi arrived in Jeddah on Tuesday for a two-day visit.
He is expected to meet with Crown Prince and Prime Minister Mohammed bin Salman during the trip.
Al-Qahtani said the visit aligns with Saudi Arabia's broader push to localize defense spending, boost technology transfer, and expand domestic investment across sectors that contribute to national gross domestic product.
In an interview with Al-Eqtisadiah, Al-Qahtani said Saudi investments in India are valued at around $10 billion, including stakes by the Public Investment Fund in major companies such as Reliance Jio Platforms, Reliance Retail, OYO Hotels, and the Health Technology Co.
'Al-Qahtani pointed out that the Saudi-Indian Business Council is working to encourage Indian investment in Saudi Arabia, identify investment opportunities in India, and transfer and localize technology in various sectors, such as space and defense,' Al-Eqtisadiah reported.
'It also aims to exchange expertise in education and training, benefit from mutual expertise in tourism and entertainment, and cooperate in the healthcare sector, pharmaceutical and medical supplies industries, and enhance integration in logistics services,' the report added.
Al-Qahtani added that India has invited Saudi Arabia to invest in its growing defense sector, which has opened up to private investors in recent years.
Indian firms that have already established regional bases in Saudi Arabia include those working in automobile and bus manufacturing.
The move by the more than 40 Indian firms comes amid a wave of multinational companies establishing regional bases in the Kingdom.
Almost 600 international companies have set up bases in Saudi Arabia since 2021, including Northern Trust, IHG Hotels & Resorts, and Deloitte, the Saudi Press Agency reported in March.
The growth was fueled by the government-backed Riyadh regional headquarters program, which offers incentives such as a 30-year corporate income tax exemption and withholding tax relief, alongside regulatory support for multinationals operating in the Kingdom.
India remains a key energy partner for the Kingdom, as it imported 14 percent of Saudi Arabia's crude oil production and 18 percent of its liquefied natural gas exports in the past year.
Bilateral trade has also expanded in sectors such as chemicals, construction, and contracting, as well as healthcare training, and information technology.
Total trade between the two countries reached around $42 billion in the financial year 2023-24. Of this, Indian exports to Saudi Arabia accounted for approximately $11 billion, consisting of engineering products, rice, and petroleum derivatives, as well as chemicals, food and medical supplies, and textiles.
Saudi exports to India totaled SR31 billion ($8.2 billion), including crude oil, liquefied natural gas, fertilizers, chemicals, and plastics.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leaders
7 hours ago
- Leaders
SDAIA Implements Advanced AI Technologies to Streamline Pilgrim Departures
The Saudi Data and Artificial Intelligence Authority (SDAIA) has strengthened its technical preparedness for the departure phase of pilgrims during the 1446 Hajj season. This includes deploying advanced technologies across land border crossings, seaports, and airports to support smooth and efficient departure registration procedures. SDAIA is committed to delivering top-tier services by leveraging cutting-edge technology at all entry and exit points. Its engineering teams are providing continuous, on-site technical support at workstations located throughout these border crossings. These stations have been outfitted with the latest systems to offer fully integrated services to pilgrims. In addition, SDAIA has developed the technical infrastructure at these locations to the highest standards, ensuring that all crossing points are fully equipped to handle departure procedures quickly and effectively. Related Topics: SDAIA President Reviews Smart Makkah Center Operations to Enhance Pilgrim Services SFDA, SDAIA Sign MoU to Boost Data, AI Collaboration Saudi Interior Min.: Tourism Companies Deceive Pilgrims, Encourage Hajj Violations Riyadh Global Health Exhibition to Bring Together Int'nal Healthcare Experts Intensive Preparations for Smooth, Safe Hajj Season: Mecca Deputy Governor Short link : Post Views: 1 Related Stories
Saudi Gazette
15 hours ago
- Saudi Gazette
Israeli navy attacks Yemen's Houthi-held Hodeida port in first direct strikes from sea
HODEIDA — Israel's navy said on Tuesday that it attacked docks in Yemen's rebel-held port city of Hodeida, the first time that its naval forces have conducted strikes against the Iran-aligned Houthis. The Houthis announced the attack via their al-Masirah news channel. They said the attack targeted docks in Hodeida, without elaborating. The facilities there are vital for aid shipments to the hungry, war-stricken nation. Since the start of the war in Gaza in October 2023, the Houthis have repeatedly launched missiles and drones targeting Israel, as well as attacks against commercial ships in what the rebels have described as acts of solidarity with the Palestinians. Late on Monday, Israel issued online warnings to Yemenis to evacuate from Ras Isa, Hodeida and al-Salif ports over the Houthis' alleged use of seaports for attacks. "The port is used to transfer weapons and is a further example of the Houthi terrorist regime's cynical exploitation of civilian infrastructure in order to advance terrorist activities," the Israeli military said in a statement Tuesday. Hodeida is also the main entry point for food and other humanitarian aid for millions of Yemenis since the war began when the Houthis seized Yemen's capital, Sanaa, in 2014. Writing on X on Tuesday, Israeli Defence Minister Israel Katz threatened the Houthis with a naval and air blockade if attacks on Israel continue. "We warned the Houthi terror organization that if they continue to fire at Israel they will face a powerful response and enter a naval and air blockade," he wrote. The majority of the missiles and drones that the Houthis have fired towards Israel have either not hit their targets or been intercepted. Israeli forces have carried several airstrikes in retaliation, including attacks on Saana International Airport. Between November 2023 and January 2025, the Houthis targeted more than 100 merchant vessels with missiles and drones, sinking two of them and killing four sailors. That has greatly reduced the flow of trade through the Red Sea corridor, which typically sees $1 trillion (€876 billion) of goods move through it annually. The Houthis paused attacks in a self-imposed ceasefire until the US launched a broad assault against the rebels in mid-March. However, just before US President Donald Trump began his Middle East trip in mid-May, he paused the attacks, saying the rebels had "capitulated" to Washington's demands. Earlier on Tuesday, US Secretary of Defence Pete Hegseth wrote on X that US Navy ships used passed through the Red Sea and its Bab el-Mandeb Strait "multiple times in recent days" without facing Houthi attacks. It's unclear how the Houthis will respond now that an attack from Israeli has come from the sea, rather than the air. Meanwhile, the wider decade-long war in Yemen between the Houthis and the country's exiled government — backed by a Saudi-led coalition — remains in a stalemate. — Euronews
Saudi Gazette
20 hours ago
- Saudi Gazette
'Scary and stressful': Indian students reconsider plans for US education
DELHI — When 26-year-old Umar Sofi received his acceptance letter from Columbia University's School of Journalism, he thought the hardest part of his journey was over. After trying for three years, Mr Sofi had finally been admitted to his dream university and even secured a partial scholarship. He quit his job in anticipation of the big move. But on 27 May, when the US suddenly paused student visa appointments, the ground slipped from beneath his feet. "I was numb. I could not process what had happened," Mr Sofi, who lives in Indian-administered Kashmir, told the BBC. Some 2,000km (1,242 miles) away in Mumbai, 17-year-old Samita Garg (name changed on request) went through a similar ordeal. A day after she was accepted into a top US university to study biochemistry — her first step towards becoming a dermatologist — the US embassy halted student visa appointments."It is scary and stressful," Ms Garg told the BBC over the phone. "It feels like I've been left in the lurch, not knowing when this will end."Both Mr Sofi and Ms Garg now have only a few weeks to secure their visas before the academic year begins in August, but little clarity on whether they can go ahead with their month President Donald Trump's administration asked US embassies across the world to stop scheduling appointments for student visas and expand social media vetting of wider move followed a crackdown on America's elite universities like Harvard, which Trump accused of being too liberal and of not doing enough to combat decisions have had far-reaching repercussions in India, which sends more international students to the US than any other the last month, the BBC spoke with at least 20 students at various stages of their application process, all of whom echoed deep anxieties about their futures. Most chose to remain anonymous, fearing retribution from the US government and worried that speaking out now could hurt their chances of obtaining a visa, or renewing than 1.1 million international students were enrolled in US colleges in the 2023-24 school year, according to Open Doors, an organization that collects data on foreign a third of them, or more than 330,000, were from consultants report that applications to US universities for the upcoming autumn semester have dropped by at least 30% because of the uncertainty."Their biggest fear is safety — what if their visas are rejected or they're deported mid-term?" said Nikhil Chopra, founder of TC Global, an international education say many students are now either deferring their plans or switching to countries perceived to be more "stable" like the UK, Germany, Ireland and Unni (name changed on request) was accepted into three US universities for a master's in data analytics. But instead of preparing for the move, he decided to forgo the opportunity altogether."There's uncertainty at every step — first the visa, then restrictions on internships and part-time work, and the constant surveillance while on campus," Mr Unni said. "It is very stressful."The halt on visa interviews is the latest in a series of policies tightening immigration rules for students. A few weeks ago, the US warned that students who drop out or miss classes without proper notification risk having their visas revoked, and could be barred from future decisions have come around the time of the year when 70% of student visas are issued, or renewed, sparking great unease among Indian students."No student wants to go to a country and then have the visa policy suddenly change," Chris R Glass, a professor at Boston College told the BBC. "They need stability and options."The uncertainty will have long-term consequences — both for the aspirations of Indian students, but also for the US's future as a coveted higher education hub — says Prof student enrolment in US universities was slowing even before Trump's latest to The Indian Express newspaper, the US denied 41% of student visa applications between the fiscal years 2023 and 2024, the highest rejection rate in a decade, and nearly doubling from from Student and Exchange Visitor Information Systems (SEVIS), which tracks foreign students' compliance with their visas, showed a nearly 10% drop in international student enrolments as of March this year compared with the same period in students are a financial lifeline for many US colleges, especially regional and state universities offering STEM (Science, Technology, Engineering and Mathematics) and other master's students pay significantly higher tuition fees than US the 2023–24 academic year alone, foreign students contributed $43.8bn to the US economy, according to Nafsa, an association of International educators. They also supported over 375,000 jobs."This really isn't about a short-term disruption of tuition revenue. This is about a long-term rupture in a strategic relationship that benefits both countries," Prof Glass decades the brightest Indian students have depended on an American education in the absence of top quality Indian universities or a supportive research turn they've helped plug a skills gap in the land highly sought-after jobs after they finish their courses — in particular, representing a significant pool of skilled professionals in sectors like biotechnology, healthcare and data science — and have even gone on to lead iconic from Google's Sunder Pichai to Microsoft's Satya Nadella went to the US as this has often led to concerns of a "brain-drain" from India, experts point out that India is simply unable to solve the problem of quality and quantity higher education in the immediate future to provide a domestic alternative to these say it will be a lose-lose situation for both countries, unless the cloud of uncertainty lifts soon. — BBC
