Bilateral Agreements/MoUs

 

  1. MoU for Foreign Office Consultations
  2.  

  3. MoU on the Establishment of Joint Business Council  between Council of Saudi Chambers of Commerce and Industry (CSCCI) and Federation of Indian Chambers of Commerce & Industry (FICCI)
  4.  

  5. Bilateral Promotion and Protection of Investments (BIPA)
  6.  

  7. Agreement on Avoidance of Double Taxation and Prevention of Tax Evasion (DTAA)
  8.  

  9. MoU on Combating Crime
  10.  

  11. Agreement in the field of Youth and Sports
  12.  

  13. MoU of Scientific and Educational Co-operation between the Ministry of HRD, India and Ministry of Higher Education, KSA
  14.  

  15. Extradition Treaty
  16.  

  17. Agreement on Transfer of Sentenced Persons
  18.  

  19. MoU for Cooperation in Peaceful Use of Outer Space
  20.  

  21. Agreement on Scientific and Technological Cooperation
  22.  

  23. MoU between Centre for Development of Advance Computing (C-DAC) and  King Abdulaziz City for Science & Technology (KACST) on cooperation in Information  Technology and Services
  24.  

  25. Agreement on News Cooperation between Saudi Press Agency (SPA) and Press Trust of  India (PTI)
  26.  

  27. MoU on Cultural Cooperation
  28.  

Economic & Commercial Relations: Indo-Saudi economic relations have shown remarkable growth with bilateral trade registering three-fold increase in the last five years. Saudi Arabia is the 4th largest trade partner of India and the bilateral trade was USD 36 billion in 2011-12.

 

The import of crude oil by India forms a major component of bilateral trade with Saudi Arabia being India’s largest supplier of crude oil, accounting for almost one-fifth of its needs. Saudi Arabia is the 14th largest market in the world for Indian exports and is destination of more than 1.86% of India’s global exports. On the other hand, Saudi Arabia is the source of 6.35% of India’s global imports.

 

For Saudi Arabia, India is the 5th largest market for its exports, accounting for 7.55% of its global exports. In terms of imports by Saudi Arabia, India ranks 9th and is source of around 3.27% of Saudi Arabia’s total imports.

 

Investments:  According to Saudi Arabian General Investment Authority (SAGIA), it has issued 426 licenses to Indian companies for joint ventures/100% owned entities till 2010, which are expected to bring total investment of USD 1624.60 million in Saudi Arabia.

 

These licenses are for projects in diverse sectors such as management and consultancy services, construction projects, telecommunications, information technology, pharmaceuticals, etc. Moreover, several Indian companies have established collaborations with Saudi companies and are working in the Kingdom in the areas of designing, consultancy, financial services and software development.

 

On the other hand, Saudi Arabia is the 46th biggest investor in India with investments from April 2000 to June 2012 amounting to USD 33.81 million.
 
 
Indo-Saudi Trade (in million USD)
 

Year
( April - March)
Imports from Saudi Arabia Exports to Saudi Arabia Total trade Increase in bilateral trade Increase in Indian imports Increase in Indian exports
2005-2006* 1632.34 1809.77 3442.11 ……. …… 28.17%
2006-2007 13,355.33 2,590.77 15,946.10 ……. …… ……
2007-2008 19,470.30 3,711.16 23,181.46 45.37% 45.79% 43.25%
2008-2009 19,972.74 5,110.38 25,083.12 8.20% 2.58% 37.70%
2009-2010 17,097.57 3,907.00 21,004.57 -16.26% -14.40% -23.55%
2010-2011 20,385.28 4,684.40 25,069.68 19.35% 19.23% 19.90%
2011-2012 31,060.10 5,683.29 36,743.40 46.57% 52.37% 21.32%
 

*Note: Does not Include Petroleum and Petroleum products
Source: Department of Commerce, GOI. (www.dgft.gov.in)
 

Cultural ties: A 88-member Saudi cultural delegation participated inthe ‘Saudi Cultural Days’ festival in New Delhi from 27 September to 1 October, 2011, which included folkloric dance, national costume, traditional meals and habits and lectures. Secretary Tourism, Government of India, led a high-level delegation consisting of State Tourism officers and tour operators to the Kingdom to participate in ‘Road Shows’ in Dammam, Riyadh and Jeddah on 7th, 9th and 11th January, 2012, respectively.

 

A cultural troupe from ICCR comprising of a Shehnai and a Qawwali group, performed in Jeddah and Riyadh from 25-29 January 2012, coinciding with the Republic Day celebrations. A 45-member Saudi youth delegation visited India on 10-day tour from March 22, 2012, to strengthen the cooperation in the information and communications technology (ICT) sector and to step-up efforts to promote understanding and friendship among the youth of the two countries.
 
Indian Community in Saudi Arabia: The 2 million-strong Indian community in Saudi Arabia is the largest expatriate community in the Kingdom and is the ‘most preferred community’ due to their expertise, sense of discipline, law abiding and peace loving nature.

 

Saudi leadership has appreciated the contribution made by Indian community to the development of Saudi Arabia. The Haj pilgrimage is another important component of bilateral relations with more than 1,70,000 Indians performing Haj every year, representing third largest contingent performing Haj.

^ Back to Top