“Un-Bracketing” Saudi Arabian And Indian Economic Relations

Abstract

In the Doing Business Report (2018), Saudi Arabia ranks 92nd out of 190 countries while India ranks 100th. In terms of corporate transparency, Saudi Arabia legislated in 2016/17 for ensuring greater transparency in the dealings linked with the board members and the shareholders. Corporate governance was also sought to be clarified with a clear delineation of ownership and control structures. On its part, India introduced or improvised upon the systems for filing corporate taxes. For facilitating cross-border trade, India sought to strengthen its transport or port infrastructure. India and Saudi Arabia undertook measures to make it easier to trade across borders by facilitating customs administration for exports and imports. Furthermore, both the countries endeavored to launch or improvise upon online procedures vis-à-vis starting a business or enforcing contracts. Finally, both the countries stepped up their efforts at strengthening minority investor protections.