The Saudi Logistics Hub, a government initiative mandated to support the growth of Saudi Arabia’s logistics sector, wrapped up its global roadshow of the year with final stop in Mumbai. The event highlighted Saudi Arabia’s efforts to transform the country’s logistics sector and promoted opportunities for cooperation with India.
Drawing the participation of business leaders from the logistics industry, the roadshow aimed to introduce the Saudi Logistics Hub, attract investments to Saudi Arabia’s logistics sector and strengthen the country’s ties with key global logistics markets.
Saudi Arabia and India have stepped up trade and investment cooperation in recent years. In 2018, India was Saudi Arabia’s third largest export market and fifth largest import market, valued at $ 5.5 billion and $ 28.4 billion, respectively. Saudi Arabia currently commands a 55 per cent share of the logistics industry in the GCC region. Over the last decade, the country has invested more than $100 billion in its transport and logistics infrastructure, resulting in a comprehensive nationwide network. In 2019, Saudi Arabia achieved a 47 per cent increase in the number of new foreign transport and logistics companies, according to the Saudi Arabian General Investment Authority.
