Mumbai, Nov 13 (NationPress) A remarkable 85% of Indian businesses, the highest proportion among the surveyed regions, perceive Saudi Arabia as an increasingly appealing location for trade and investment in light of global uncertainties, according to a report released on Thursday.

Furthermore, 78% of Indian enterprises intend to enhance their investments in Saudi Arabia within the next six months, marking the most significant commitment level from any country outside the Middle East, as per findings from an HSBC report.

Indian business leaders are demonstrating a robust intention to elevate trade and investment with Saudi Arabia, aligning with the Kingdom’s Vision 2030 initiative, which seeks to establish a resilient and stable economy filled with promising growth prospects.

“Our research reveals a growing confidence among international enterprises in Saudi Arabia’s economic evolution and underscores the Kingdom’s distinctive capability to merge enhanced growth opportunities with economic stability,” remarked Selim Kervanci, CEO of HSBC Bank Middle East.

The report analyzed responses from 4,000 business decision-makers with international operations, each generating annual revenues ranging from $50 million to $500 million, providing insights into the developing trade and investment relationships between Saudi Arabia and eight prominent global markets.

Bilateral trade relations between India and Saudi Arabia have consistently expanded over the years. India ranks as the second-largest trade partner of Saudi Arabia, while Saudi Arabia holds the position of the fifth-largest trading partner for India. In the fiscal year 2024-25, bilateral trade reached $41.88 billion, with Indian exports totaling $11.76 billion and imports at $30.12 billion.

Responses from Indian survey participants indicate that the growing economy of Saudi Arabia (60%), economic stability (56%), and business-friendly regulations (51%) are the primary motivators for conducting business in the Kingdom.

The strategic alignment of Saudi Arabia’s Vision 2030 with India’s Viksit Bharat agenda creates synergistic opportunities for trade and investment, promoting sustainable growth and shared prosperity, stated Ajay Sharma, Head of Banking at HSBC India.

Indian IT and technology firms are playing a pivotal role in Saudi Arabia’s digital transformation, with increasing interest in sectors such as healthcare, logistics, mining, and startups. Indian businesses already operating in the Kingdom cite foreign ownership restrictions (35%) and market competition (35%) as the leading barriers to expanding their investments.