Saudi Gazette report

NEW DELHI — A delegation from the Ministry of Industry and Mineral Resources, led by Minister Bandar Al-Khorayef, is set to embark on an official visit to New Delhi from February 3 to 6, 2025.

The visit aims to strengthen bilateral ties, attract quality investments to Saudi Arabia, and explore joint industrial and mining opportunities.

The delegation will engage in high-level strategic meetings with senior Indian government officials from various ministries, alongside discussions with leading global companies in mining, pharmaceuticals, automobiles, petrochemicals, chemicals, and other strategic industrial sectors.

The visit is also expected to result in agreements and memoranda of understanding (MoUs) that will enhance partnerships in industry and mining.

Key meetings will include discussions with officials from the Ministry of Coal and Mines, the Ministry of Chemicals and Fertilizers, the Ministry of Steel, the Ministry of Heavy Industries, and the Ministry of Commerce and Industry.

The delegation will also visit the National Institution for Transforming India (NITI), the country’s premier public policy think tank.

In addition, the delegation will participate in a roundtable meeting with executives from India’s private sector, as well as bilateral meetings with senior leaders from Bharat Heavy Electrical Equipment, Uno Minda Auto Components, Vedanta Mining Group, and Sanmar Chemicals Group.

The visit will extend to Mumbai, where the agenda includes another roundtable discussion with key players from the mining, automotive, pharmaceutical, and petrochemical industries.

The delegation will also conduct field visits to major Indian companies, including UPL Chemical Industries, TATA Electronics Group, and Aditya Birla Mining Group.

Saudi Arabia and India share a strategic partnership spanning over 76 years, with robust economic and trade relations. Their trade exchange is largely based on energy products, minerals, chemicals, fertilizers, textiles, machinery, electrical equipment, and automotive components.

In 2023, the volume of trade exchange between Saudi Arabia and India reached SR66.8 billion, with Saudi non-oil exports amounting to SR23.3 billion, while non-oil imports from India totaled SR43.5 billion.

The industrial sector includes significant Indian investments across Saudi Arabia’s industrial cities and the Royal Commission for Jubail and Yanbu.

The Saudi Industrial Development Fund (SIDF) has also provided financing for joint industrial projects with India, amounting to SR269 million.