Commerce and Industry Minister Piyush Goyal on Wednesday met Saudi Arabia’s Investment Minister Khalid Al Falih and discussed ways to further deepen economic and trade ties between the two nations.
The discussions centred around advancing trade and investment in tech, energy, infrastructure and startups, among other sectors.
“It was a pleasure to meet Saudi Arabia’s Minister of Investment, @Khalid_AlFalih, along with his delegation. We discussed ways to further deepen India-Saudi Arabia economic ties, advancing trade and investment in tech, energy, infrastructure, and startups among other sectors,” Goyal said in a post on X.
Commerce Minister further said that “our partnership continues to grow stronger, built on mutual trust and shared prosperity”.
Bilateral trade between the two countries reached $41.88 billion in 2024-25, with chemicals and petrochemicals contributing 10 per cent, which is nearly $4.5 billion.
This was followed by a bilateral meeting where the two ministers deliberated expansion of investment across diverse sectors to foster economic growth and further enhance strategic partnership between the two countries.
Saudi Arabia is one of India’s most important strategic partners. The level of cooperation between the two countries can also be witnessed with the establishment of India-Saudi Arabia Strategic Partnership Council (SPC).
India and Saudi Arabia have also decided to enhance bilateral cooperation in the chemicals and petrochemicals sector, promoting investments and exploring new areas of collaboration.
(IANS)