- India, Saudi Arabia agree to expand cooperation in chemicals and petrochemicals.
- Bilateral trade hits USD 41.88 billion in 2024–25; chemicals contribute 10%.
- Talks focus on investments, R&D, and skill development.
- Both nations to leverage strengths — Saudi petrochemicals, Indian speciality chemicals.
GG News Bureau
New Delhi, 15th Oct: In a significant step towards expanding bilateral industrial cooperation, India and Saudi Arabia have agreed to enhance collaboration in the chemicals and petrochemicals sector, focusing on investment promotion, research, and skill development.
A high-level meeting was held between the Department of Chemicals and Petrochemicals, Government of India, and the Ministry of Industry and Minerals, Kingdom of Saudi Arabia. The Indian delegation was led by Nivedita Shukla Verma, Secretary, Department of Chemicals and Petrochemicals, while the Saudi side was headed by Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals.
Saudi Arabia is India’s fourth-largest trade partner, while India stands as Saudi Arabia’s second-largest trading partner. Bilateral trade between the two nations reached USD 41.88 billion in 2024–25, with chemicals and petrochemicals accounting for around 10% (USD 4.5 billion) of the total.
During the meeting, both sides emphasized the complementary strengths of their respective industries — Saudi Arabia’s robust petrochemical base and India’s growing capacity in speciality chemicals. It was agreed to harness this synergy to deepen industrial linkages and attract investments across the value chain.
The discussions also explored investment opportunities in India’s Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs) and potential partnerships between major companies from both countries.
Additionally, both nations agreed to enhance cooperation in research and development (R&D) and skill development, aligning with the shared goal of promoting innovation and sustainability in the sector.
Reaffirming their commitment, both sides expressed confidence that this partnership would further strengthen the strategic and economic ties between India and Saudi Arabia, building a more resilient and future-ready industrial relationship.
