Source credit: Saudi Press Agency
The recent visit of Bandar Alkhorayef, the Saudi Minister of Industry and Mineral Resources, demonstrated the important measures Saudi Arabia is taking to strengthen its mining and industrial connections with India. Leading a high-level group, Alkhorayef's four-day tour is intended to investigate potential collaborations in industries like pharmaceuticals, automobile production, and petrochemicals.
Key points
- The sessions were planned in Mumbai, India's commercial center, as well as New Delhi.
- Saudi Arabia's Vision 2030 project, which aims to diversify the economy and establish the Kingdom as a global industrial leader, is in line with the visit.
- Alkhorayef focused on extending collaboration in vital sectors including fertilizers and medical devices during his first discussions with Indian authorities, including Union Minister of Heavy Industries H.D. Kumaraswamy and Minister of Chemicals and Fertilizers Jagat Prakash Nadda.
- Alkhorayef underlined the significance of enhancing investment through cooperative projects and fortifying bilateral connections.
- He pointed out that while imports from India were mostly machinery and automobiles, Saudi exports to India totaled SR8.8 billion in October 2024, or 9.5% of all Saudi exports.
With both countries realizing the potential for growth in vital areas via improved cooperation and innovation, the visit represents a significant step toward closer industrial partnership between Saudi Arabia and India.
