Invest India Grid was launched in Saudi Arabia during the visit of a NITI Aayog delegation with 40 opportunities of investment, trade and business also identified during the visit.
The delegation, led by NITI Aayog CEO Amitabh Kant, comprised of leading Indian CEOs who took part in discussions with the Saudi Centre for International Strategic Partnerships (SCISP).
Discussions were also held with senior representatives from 12 Saudi ministries in Riyadh during the two-day visit which concluded on Sunday.
The delegation's visit assumes significance as Saudi Arabia Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud is scheduled to visit India on February 19 and 20.
An official release said India's Ambassador to Saudi Arabia, Ahmad Javed accompanied the team of Indian CEOs.
Officials from ministries of tourism, Housing and Urban Affairs, Electronics and Information Technology and commerce took part in the deliberations.
The NITI Aayog-SCISP workshop held wide ranging discussions on the possible opportunities of joint cooperation.
"During the workshop, Invest India Grid was launched in Saudi Arabia. Invest India is setting up a dedicated team for facilitating Saudi investments in India. NITI Aayog and SCISP agreed to provide continuing momentum to the India-Saudi Arabia Strategic Partnership," the release said.
Mr Kant also called on Saudi Minister of Finance Mohammed Al-Jadaan and discussed ways to strengthen bilateral ties.
"Six working groups have identified 40 investment, trade and business opportunities with vast potential for expansion," the release said.
India-Saudi Arabia bilateral trade during April to November 2018 reached $23.24 billion.
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