During the 2023-24 fiscal year, the number of Indian workers in Saudi Arabia increased substantially, touching 200,000 in number as the sectors of construction, infrastructure and service witnessed rapid growth. This means the Indian expatriate population in the country has increased by almost 9% to reach 2.65 million, placing it amongst the biggest diaspora worldwide in West Asia. Along with that, the number of Indian firms registered in Saudi Arabia has increased to 3,000, signifying the strengthening economic ties between these two nations.
India’s ambassador to Saudi Arabia Suhel Ajaz Khan highlighted the importance of the Indian community living in Saudi Arabia in its development. “We feel that the Indian community in Saudi Arabia is a living bridge between the two countries, and the contributions of the Indian community to the economic growth of the kingdom are well known,” he said in a media interaction.
Saudi Arabia’s Vision 2030 initiative seeks to diversify its oil-dependent economy by reducing its dependence on oil and moving into sectors such as manufacturing, tourism and green energy. In this bid, the country is taking more hands of skilled professionals, while foreign workers, to push the country’s economic transformation. With their expertise, Indian professionals are expected to play a key role in this shift.
As Saudi Arabia’s drive towards economic diversification meets Indian businesses that are taking root in the country, bilateral trade and employment opportunities are expected to grow. India’s strong economic and cultural footprint in the Gulf nation is likely to keep the workforce migrating in anyway, Indian officials expect.
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