Commerce Minister Piyush Goyal is set to engage in discussions on collaborative efforts in energy transition, digital transformation, and trade facilitation during his visit to Saudi Arabia this week. His meetings with key ministers aim to deepen the strategic partnership between India and Saudi Arabia and explore new opportunities for trade, investment, and economic cooperation, reflecting India’s growing global economic influence.
Goyal’s visit, scheduled for October 29-30, will include co-chairing the second Ministerial Meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council. The discussions will focus on various sectors, including agriculture, food security, energy, technology, and infrastructure.
Saudi Arabia ranks as India’s fifth-largest trading partner, with bilateral trade amounting to $42.87 billion in 2023-24.
During his visit, Goyal will have bilateral meetings with key Saudi ministers, including the Minister of Commerce, Minister of Industry & Mineral Resources, Minister of Investment, and Minister of Energy. He will also participate in the eighth edition of the Future Investment Initiative (FII) in Riyadh, a prominent platform that gathers global leaders, investors, and innovators.
His participation is intended to showcase India’s rapid economic growth, commitment to sustainable development, and focus on sectors such as renewable energy, digital infrastructure, and advanced manufacturing. Additionally, Goyal plans to engage with notable global investors on the sidelines of the FII. These interactions aim to enhance investor confidence, facilitate investment flows, and promote India as a preferred global investment destination, in line with the Make in India initiative.
