Abstract: India has historically had close economic ties to the Saudi region along its eastern shores. India-Saudi Arabia relationship is growing stronger by the day as both realize the potential and importance of each other. Trade and commerce is the most important pillar of the India-Saudi Arabia relationship. Success of high volume of trade and commerce between India and Saudi Arabia revolves around a high degree of trade and economic complementarily as both caters to each other's economic demands. Saudi Arabia, with large hydrocarbon reserves are crucial for India's energy requirements while the region has been a good market for Indian products. It has grown stronger, attaining the level of a strategic partnership and incorporating more political and security content. Prime Minister Narendra Modi’s visit to Riyadh in April 2016 further bolstered the bilateral trade relationship, laying the basis for deepening existing ties and broadening the parameters of cooperation. In this article we are discussing only regarding bilateral trade between India and Saudi Arabia.
Keywords: India, Saudi Arabia, Trade, Export, Import, Tariffs.
Title: The Bilateral Trade Relations between India and Saudi Arabia
Author: DR. SHEETAL VARSHNEY
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
Research Publish Journals
