OCT 15: India and Saudi Arabia have taken another step forward in strengthening their strategic and economic ties through deeper collaboration in the Chemicals and Petrochemicals sector. A high-level bilateral meeting was held between the Department of Chemicals & Petrochemicals, Ministry of Chemicals and Fertilizers, Government of India, and the Ministry of Industry and Minerals, Kingdom of Saudi Arabia.
The Indian delegation was led by Ms. Nivedita Shukla Verma, Secretary of the Department of Chemicals & Petrochemicals, while the Saudi side was headed by H.E. Eng. Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals.
Saudi Arabia is India’s fourth-largest trading partner, while India ranks as the Kingdom’s second-largest trading partner. Bilateral trade between the two nations stood at USD 41.88 billion in 2024–25, with chemicals and petrochemicals accounting for around 10% (approximately USD 4.5 billion).
During the discussions, both sides emphasized the importance of enhancing cooperation, promoting mutual investments, and exploring emerging opportunities across the entire value chain of the Chemicals and Petrochemicals industry. They recognized Saudi Arabia’s strength in petrochemicals and India’s growing capabilities in specialty chemicals as key areas for synergistic collaboration.
The talks also focused on potential Saudi investments in India’s Petroleum, Chemical, and Petrochemical Investment Regions (PCPIRs) and possible joint ventures between leading companies from both nations.
Additionally, both countries agreed to collaborate in Research & Development (R&D), technology exchange, and skill development initiatives to drive innovation and sustainable growth in the sector.
Reaffirming their shared commitment, India and Saudi Arabia resolved to build a sustainable and mutually beneficial partnership, further reinforcing their long-standing strategic relationship and economic cooperation.
