India-Saudi Arabia
India, Saudi Arabia discuss new areas of collaboration in the Chemicals and Petrochemicals sector
India and Saudi Arabia recently discussed enhancing bilateral cooperation, promoting investments, and exploring new areas of collaboration in the Chemicals and Petrochemicals sector.
A bilateral meeting was held between Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers, Government of India and the Ministry of Industry and Minerals, Kingdom of Saudi Arabia.
The Indian side was led by Nivedita Shukla Verma, Secretary Department of Chemicals & Petrochemicals.
The Saudi delegation was led by Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals.
"It was agreed to have enhanced cooperation for harnessing the synergy between the two sides," read a statement issued by the Indian government.
Both sides discussed the opportunities for increasing the collaboration across the value chain of Chemicals and Petrochemicals, including investments in Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs) of India and potential partnerships between major companies of both countries.
It was also agreed to collaborate in the field of Research & Development and skill development in the sector.
During the meeting, both sides reaffirmed their commitment to building a sustainable and mutually beneficial partnership in the Chemicals and Petrochemicals sector, further strengthening the strategic and economic ties between India and Saudi Arabia.
India-Saudi Arabia relationship
Saudi Arabia is India’s fourth largest trade partner, and India is Saudi Arabia’s second largest trade partner.
Bilateral trade between the two countries reached USD 41.88 billion in 2024–25, with chemicals and petrochemicals contributing 10%, which is nearly USD 4.5 billion.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
