Strengthening Saudi-India Ties: Fertilizers to Diwali Delights

India and Saudi Arabia have discussed ways to boost trade and investment by enhancing cooperation in fertilizers, petrochemicals, and mining. Indian Commerce Minister Piyush Goyal met Saudi counterparts, exploring collaborations in pharmaceuticals and automobiles. Trade between both countries reached USD 43 billion in 2023-24, with Indian companies actively investing in Saudi Arabia.

India is continuing to bolster its trade relations with Saudi Arabia, with key discussions this week aiming to enhance cooperation within the fertilizers, petrochemicals, and mining sectors. The deliberations were part of Commerce and Industry Minister Piyush Goyal's official visit to Riyadh.

During his visit, Goyal engaged in talks with Saudi Minister for Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, and Khalid Al Falih, Minister of Investment. The dialogues centered around facilitating investments and exploring significant opportunities for collaboration across various sectors, including pharmaceuticals, automobiles, and petrochemicals.

Notably, the trip also saw the inauguration of 'Lulu Wali Diwali' at the Lulu Hypermarket, bringing home-grown Apple delights from Ladakh to Saudi markets for the first time. India ranks as Saudi Arabia's second-largest trade partner, with bilateral trade standing at USD 43 billion for 2023-24, demonstrating robust and growing economic ties between the two nations.

(With inputs from agencies.)