RIYADH, June 26: Bilateral trade between India and Saudi Arabia crossed $9.87 billion in 2006.

Highlighting the growing strategic and economic relations between the kingdom and India, the Indian consul-general in Jeddah, Ausaf Sayeed, said: “India is the sixth biggest investor in Saudi Arabia with investments, totaling $1.2 billion, compared to $250 million just three years ago.”

Indian economic offensive seems to be finally paying off. “Indian companies, such as Wipro, Satyam Computers, TCIL Saudi Co Ltd, TCS, Tata Motors and L&T have started their projects in the kingdom. Likewise, Saudi companies have started 49 projects in India and another 50 have been approved,” he emphasised.

Around 3.7 million Indian nationals live today in the six GCC countries and send home about $8 billion annually. More than 1.5 million Indians are employed in Saudi Arabia alone.