Riyadh - Sharikat Mubasher: Global companies are increasingly establishing regional headquarters (RHQs) in Saudi Arabia, triggered by the Kingdom's strategic reforms and business-friendly initiatives like the Regional Headquarters Program (RHQ).

Chairman of the Saudi Indian Business Council, Abdulaziz Al-Qahtani, revealed that over 40 Indian companies, spanning sectors like the automotive and defense industries, have already established regional offices in the Kingdom.

Several Indian companies are preparing to launch defense industry facilities in the Kingdom soon, Al-Qahtani stated in an interview with Al Eqtisadiah newspaper.

The official revealed that the Saudi investments in India are estimated at around $10 billion, including major stakes by the Public Investment Fund (PIF) in Jio Platforms, Reliance Retail Ventures Limited, and OYO, India’s largest hospitality company.

The council, Al-Qahtani emphasized, is actively working to attract Indian investments to Saudi Arabia, foster technology localization, especially in space and defense, and promote knowledge exchange across various sectors, notably education, tourism, entertainment, healthcare, pharmaceuticals, and logistics.

This development coincides with Indian Prime Minister Narendra Modi’s two-day visit to Saudi Arabia, where several memoranda of understanding (MoUs) are expected to be signed, further strengthening economic collaboration.