Indian investments are making their way in Jordan at a steady pace

Al-Anbat- Yara Badosi 

Translated by: Noor BaniHani 

Investment Minister Kholoud Al-Saqqaf announced that Indian investments amounted to more than $1.3 billion in economic sectors, and that the volume of trade exchange between the two countries amounted to more than $1.9 billion in 2021.

This came during a virtual meeting organized by the Ministry of Investment with the Jordanian Embassy in India, in the presence of the Global Indian Business Forum (GIBF), the Jordanian Businessmen Association, and representatives of the Indian Embassy in Jordan, with the participation of more than 35 Indian companies representing many investment sectors.

In turn, business and investment advisor Mohammed Al-Qaryouti said that Indian investments in Jordan are considered influential investments and emphasize the importance of the incubating environment, pointing out that the Indian investments, which amounted to 1.3 billion dollars, were distributed over several sectors, specifically the industrial ones.

Al-Qaryouti added that the most important effective sectors in these investments is the clothing sector, as the volume of Indian investment in this sector is estimated at approximately $300 million, distributed over approximately 25 clothing factories that employ more than 10,000 workers, and the phosphate sector as well, which is considered a fertile environment for Indian investments In Jordan, then comes the educational sector, where there are many agreements linking Jordanian universities with the Indian side, which include a package of training programs focused on important areas such as information technology and cybersecurity.

He emphasized that Indian investments are paving a steady path for them and opening fields for them in promising sectors in Jordan, such as the expansion of the mining sector, the chemical and fertilizer industries, the agricultural sector, the pharmaceutical sector, and the tourism sector, indicating that these factories contribute significantly to community development in the areas that have been established in and it plays a major role in promoting Jordanian exports to the United States of America within the Free Trade Agreement between Jordan and America FTA.

Al-Qaryouti added that Indian investment exceeds $570 million in the Amman Financial Market, indicating that India ranks tenth in the rank of foreign investments in the market, and is also the third largest trading partner of Jordan, as Jordan's exports to India exceeded $1.2 billion and were concentrated in chemical industries, fertilizers, mineral products and stone. Plaster, lime and cement materials, while Jordan's imports from India exceeded $500 million and were concentrated in animal products, spices, seasonings, machinery, mechanical devices and clothing items.

He pointed out that the importance of Indian investments in Jordan comes in line with the vision of economic modernization, as it is closely related to the sectors targeted in the vision, and he stressed on the existence of large Indian investments that have proved tangibly successful, indicating the desire on the Indian side to expand their investments in Jordan and enter into various partnerships in targeted sectors.