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Saudi's economic expansion offers new opportunities for India: Ambassador
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Mohammed Shafeeq | 29 Apr, 2019
With Saudi Arabia looking to diversify its economy, India's new
ambassador to the kingdom, Dr. Ausaf Sayeed, believes this offers new
opportunities for both the Indian industry and the workforce.
Contrary
to apprehensions in some quarters that job opportunities for Indians
will shrink with 'Saudisation' and taxation, he expects that the
economic expansion in the Kingdom would create new job opportunities for
Indians.
"The opportunities for Indian companies to participate in the Saudi expansion will also grow," Saeed told IANS in an interview.
Saudi
Arabia has unveiled its Vision 2030 plan to reduce dependence on oil
and diversify its economy by focusing on sectors like health, education,
infrastructure, recreation and tourism.
Sayeed, who will be
taking charge on April 28, feels that the recent Saudi moves like
taxation and increase in fees for different services did not impact much
on the Indian Diaspora as its numbers at 2.7 million still remain quite
strong.
The diplomat, who earlier served as High Commissioner to
Seychelles, Ambassador to Yemen and Consul General in Chicago and
Jeddah, said while reserving some categories of jobs for locals is the
prerogative of Saudis, Indians continue to go to the Kingdom for jobs.
Hailing
from Hyderabad, Sayeed also served as Consul (Haj) in Jeddah and
Second/First Secretary in Riyadh besides holding various diplomatic
assignments in Egypt, Qatar and Denmark.
Terming his new
assignment as personally challenging, he noted that it comes at a time
when the bilateral relations between India and Saudi Arabia were at
their peak, backed by a series of high-level visits in last few years
with the latest being that of Crown Prince Mohammed bin Salman's visit
to New Delhi in February.
"It is very significant that both
countries are working very closely in different domains like economy,
trade, energy security, healthcare etc," he said.
Sayeed said his priority would be to facilitate implementation of all the MoUs and agreements signed bilaterally.
Saudi
Arabia is Inddia's fourth largest trading partner. The bilateral trade
is almost $28 billion although it is mainly the import of oil which
tilts the balance in Saudi Arabia's favour. Still, non-oil exports from
Saudi Arabia and from India are growing, he said.
"There are
almost 300-350 companies of India involved in some way or the other in
the development process there. My priority will be to see that the
business relationship between India and Saudi Arabia is consolidated."
He
believes that there is scope of taking the bilateral trade to $30-35
billion in the years to come with the normal trade but a recent
announcement is expected provide further fillip to the trade and
business ties.
The Crown Prince, during his visit, announced the
intention to invest $100 billion in terms of new investment in India in
sectors like energy, refining, petrochemicals, education, healthcare,
infrastructure, agriculture and minerals and mining.
The
announcement includes Saudi Aramco's proposed investment in the world's
biggest oil refinery and petrochemical complex coming up at Ratnagiri on
India's West Coast.
The ambassador said both sides will come out with concrete projects for investments in other areas.
He
recalled that during the Crown Prince's, visit the two countries signed
several agreements to promote investment in different sectors. There
was a MoU for investing in the National Investment and Infrastructure
Fund of India. Two MoUs were signed on cooperation in tourism and
housing. Invest India and Saudi Arabia General Investment Authority
(SAGIA) also signed a framework cooperation programme.
An
agreement was also inked for Saudi Arabia to join the International
Solar Alliance (ISA) launched by Prime Minister Narendra Modi.
On
the proposed strategic partnership council mooted during the visit,
Sayeed said the idea perhaps was to evolve high level consultancy
mechanism where the two leaders can monitor the relationship quite
closely.
The ambassador said he would try to ensure that the
interests of 2.7 million India Diaspora and the Indian workers in the
Kingdom are safeguarded. "We will work closely with Saudi counterparts
and agencies there and see that the rights of Indian workers rights are
protected and at the same time they contribute meaningfully within the
ambit of the Saudi rules and regulations and laws."
He did not
agree that the family members of Indian expats were coming back due to
imposition of taxes and an increase in 'iqama' fee. He pointed out that
the Indian Diaspora had always sent their children to India or elsewhere
for higher education. "Although for some people to maintain families
may be little bit challenging with the cost of living and other things
adding to it, nevertheless the number shows it is too high. People are
still going and living comfortably."
On Saudisation, he said that
at the end of the day, countries are responsible for providing jobs to
their own nationals. "If certain jobs can be done by their own
nationals, it is unfair on part of anybody to expect these jobs to be
opened to outsiders. To that extent there is national commitment of
every country. Having said that I feel that there are jobs and Indians
continue to go there."
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