India and Saudi Arabia have reaffirmed their commitment to strengthen bilateral cooperation in the chemicals and petrochemicals sector, following a high-level meeting 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, Department of Chemicals & Petrochemicals, while the Saudi side was headed by Mr. Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals.

The engagement highlighted the strong trade relationship between the two countries. Saudi Arabia is India’s fourth-largest trade partner, and India is Saudi Arabia’s second-largest partner. Bilateral trade reached Rs. 3,68,795 crore (US$ 41.88 billion) in 2024-25, with the chemicals and petrochemicals segment contributing Rs. 39,627 crore (US$ 4.5 billion).

The discussions focused on enhancing investment opportunities and strengthening value-chain linkages across the chemicals and petrochemicals sector. Both countries recognised their complementary strengths: Saudi Arabia’s dominance in petrochemicals and India’s expertise in speciality chemicals. This synergy is expected to be leveraged through joint investments in Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs) and potential collaborations between major industry players.

In addition to investment and trade, both sides emphasised collaboration in research and development (R&D), as well as initiatives for skill enhancement in the sector. The meeting underscored a shared vision for a sustainable, innovation-driven, and mutually beneficial partnership, aimed at boosting economic growth, technological exchange, and industrial capabilities in both countries.

This engagement marks a significant step in deepening the strategic and economic ties between India and Saudi Arabia. By combining India’s innovation and technological expertise with Saudi Arabia’s robust petrochemical production capabilities, both nations aim to foster long-term growth, joint industrial projects, and enhanced competitiveness in the global chemicals and petrochemicals market.

In summary, the India–Saudi Arabia meeting reflects a commitment to stronger bilateral cooperation in the chemicals and petrochemicals sector. Key areas of focus include joint investments, strengthening value-chain linkages, R&D collaboration, and skill development, with a view to building a sustainable, innovation-led partnership. This initiative further reinforces India and Saudi Arabia’s strategic trade and economic relationship, positioning the sector for growth and global competitiveness in the coming years.

Join our Telegram Channel for Latest News and Regular Updates.

Start your Mutual Fund Journey  by Opening Free Account in Asset Plus.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.