JEDDAH: During the Kingdom’s industry minister’s four-day visit, significant agreements are anticipated to deepen mining and economic links between Saudi Arabia and India. Top Indian ministers will meet with Bandar Alkhorayef, who is leading a high-level delegation from the Ministry of Industry and Mineral Resources and the Local Content and Government Procurement Authority, to discuss potential collaborations in the automotive, pharmaceutical, and petrochemical industries, according to the Saudi Press Agency.
The trip complements the Kingdom’s larger Vision 2030 objectives to diversify its economy and establish Saudi Arabia as a major industrial and mining powerhouse in the world. It includes stops in New Delhi and Mumbai, India’s commercial centre. This comes as the two countries’ trade connections have grown. In November, Saudi Arabia’s non-energy goods exports to India increased 19.4% to SR2.52 billion ($672 million), while India’s imports totalled SR3.14 billion.
Alkhorayef met with Union Minister of Heavy Industries H.D. Kumaraswamy and Minister of Chemicals and Fertilisers Jagat Prakash Nadda on the first day of his visit, which started on February 3. Expanding collaboration in medical devices, heavy machinery, autos, and replacement parts, as well as petrochemicals, fertilisers, and pharmaceuticals, was the main topic of discussion. The significance of fortifying relations and promoting investment and industrial growth through cooperative projects was emphasised by both parties.
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