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While in Riyadh, Dr Jaishankar is expected to hold bilateral meetings with Foreign Ministers from GCC member countries.

The Gulf Cooperation Council, (GCC), is a union of six countries in the Gulf region -- Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain.

According to experts, the GCC region holds huge trade potential and a trade agreement would help in further boosting India's exports to that market.

The eight opposition-ruled states have also called for additional levies on 'sin' and luxury goods over and above the proposed 40% be fully transferred to states, Congress leader Jairam Ramesh said.

Venediktov said he looked forward to receiving Doval in Russia for the next round of the strategic dialogue at an early date.

EIL chairman and managing director Atul Gupta says the company expects an order pipeline of around $1 billion from the region over the next two to three years