Piyush Goyal will visit FII in Riyadh and strengthen Indo-Saudi ties in energy, digital technology and manufacturing

During his visit, Goyal will participate in the 8th Future Investment Initiative (FII), a renowned platform for global leaders, investors and innovators. The Minister will showcase India’s economic growth, sustainable development efforts and opportunities in sectors such as artificial intelligence, renewable energy and advanced manufacturing.

Goyal’s agenda includes key bilateral meetings with Saudi Arabia’s ministers of trade, industry, investment and energy, where discussions will focus on the energy transition, digital transformation and trade facilitation.

The visit will also include the second ministerial meeting of the Economic and Investment Committee of the India-Saudi Arabia Strategic Partnership Council, which will focus on strengthening ties in the fields of agriculture, food security, energy, technology and infrastructure.

India is currently Saudi Arabia’s second largest trading partner, and Saudi Arabia is India’s fourth largest trading partner. Bilateral trade between the two countries reached $43 billion in 2023-24, with over 2,700 Indian companies operating in Saudi Arabia.

Major Indian firms such as L&T, Tata, Wipro, TCS and Shapoorji Pallonji have a significant presence in the Kingdom, while the $3.22 billion Saudi investment in India includes contributions from groups such as ARAMCO and SABIC.

The minister will also inaugurate Diwali Utsav at Lulu Hypermarket in Riyadh and inaugurate the One District One Product (ODOP) wall at the Indian Embassy to promote regional Indian products in Saudi Arabia.