Saudi Arabia and India have decided to make visa regulations for businessmen and entrepreneurs of both countries easier by allowing long-term multiple-entry permits and establishing a Saudi-India investment fund. This decision was a fallout of a two-hour long meeting between India’s External Affairs Minister, Pranab Mukherjee and his Saudi counterpart, Prince Saud Al-Faisal in Riyadh on Sunday 20 April.
 

The two leaders - Pranab Mukherjee and Prince Saud Al-Faisal - also agreed upon a number of other issues like liberalization of business visa regulations, setting up Saudi-India Fund and the enforcement of Bilateral Investment Promotion and Protection Treaty. The meeting was also attended by Minister and Deputy Chief of Mission at Indian Embassy, Rajeev Shahare along with the Saudi Ambassador to India, Salah Al-Ghamdi.

 

Quoting Prince Saud, Rajeev Shahare said that the climate is ripe for Saudi Arabia and India to put forward concrete proposals on a number of issues concerning their bilateral relations. He also informed that both Saudi Arabia and India highlighted the significance of private sectors from both sides striking up a number of joint ventures, work for enhanced trade and investment activities.

 

Mr Shahare said Prince Saud could invite Indian businessmen to visit Saudi Arabia and create business opportunities with Saudi Aramco, Saudi Arabian Basic Industries Corporation and Ministry of Petroleum and Mineral Resources. From India’s side, Mr Mukherjee spoke about the country's infrastructure development plans.