Indian Giants Eye Saudi's $63 Billion Diriyah Project, Boosting Bilateral Ties

Saudi Arabia's ambitious $63.2 billion Diriyah project is attracting significant interest from Indian investors. Dubbed the "City of Earth," this giga-project near Riyadh will house 100,000 residents and create 178,000 jobs. Major Indian conglomerates, including Tata Group and Oberoi Hotels, have already signed on. The development features 40 luxury hotels, 1,000+ shops, and cultural venues. Diriyah CEO Jerry Inzerillo highlighted opportunities for Indian firms across various sectors, emphasizing the project's role in strengthening Saudi-India trade relations, which reached $52.8 billion in 2022-23. This investment surge aligns with Saudi Arabia's vision to diversify its economy and boost tourism.

Sources: Business Standard, Hindustan Times, Economic Times