Boosting Indo-Saudi Economic Ties with Schneider and General Atlantic

Commerce and Industry Minister Piyush Goyal met with Schneider Electric's CEO Peter Herweck in Riyadh. They discussed Schneider's investment in India and its plans to leverage local talent and government support. Goyal also met with William E Ford from General Atlantic to explore investment opportunities in healthcare and other sectors.

Commerce and Industry Minister Piyush Goyal convened with Peter Herweck, CEO of Schneider Electric, in Riyadh on Wednesday. The discussions centered around Schneider's expansive investment plans for India, particularly in energy management and digital automation. The firm is committed to investing Rs 3,200 crore by 2026 to establish India as a manufacturing hub, with 30 factories currently operational across the country.

Goyal emphasized exploring avenues for trade and investment, aiming to bolster the strategic partnership between India and Saudi Arabia. Schneider aims to harness India's talent pool and government support to deliver sustainable energy solutions globally.

Additionally, Goyal also engaged in a pivotal meeting with William E Ford, Chairman and CEO of General Atlantic. The talks highlighted potential collaboration in India's healthcare sector and expanding investment in Global Capability Centres, underlining the broadening scope of bilateral economic engagement.

(With inputs from agencies.)