New Delhi: India and Saudi Arabia on Monday held a bilateral meeting to strengthen collaboration in the chemicals and petrochemicals sector, exploring opportunities for investments, research, and skill development.
The meeting, held between the Department of Chemicals and Petrochemicals (Ministry of Chemicals and Fertilizers) and the Ministry of Industry and Minerals of Saudi Arabia, was led by Nivedita Shukla Verma, Secretary, Department of Chemicals and Petrochemicals, and Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals, Kingdom of Saudi Arabia.
Bilateral trade between the two countries stood at $41.88 billion in 2024–25, with chemicals and petrochemicals accounting for nearly 10 per cent, or $4.5 billion. Saudi Arabia is India’s fourth largest trade partner, while India is Saudi Arabia’s second largest.
Both sides recognised complementarities in their respective sectors — with Saudi Arabia’s strength in petrochemicals and India’s growing base in speciality chemicals — and agreed to enhance cooperation to harness synergies.
The discussions covered collaboration across the value chain, including investments in Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs) in India and potential partnerships between major companies from both countries.
It was also agreed to strengthen cooperation in research and development and skill development in the sector.
Both countries reaffirmed their commitment to building a sustainable and mutually beneficial partnership in chemicals and petrochemicals, reinforcing their strategic and economic ties.
