In a key diplomatic and economic engagement, India’s Union Minister of Commerce and Industry, Piyush Goyal, and Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman Al Saud, convened the second Ministerial Meeting of the Economy and Investment Committee under the Saudi-India Strategic Partnership Council (SPC).
The meeting underscored the continued commitment to enhancing trade and investment flows, as well as identifying sectors with significant potential for growth. Both ministers acknowledged the strides made since the inception of the SPC and agreed on the importance of maintaining momentum to realize the full promise of their economic partnership.
At the conclusion of the main session, Minister Goyal took to social media, stating, “Co-chaired the 2nd Ministerial Meeting of the Economy and Investment Committee under the Saudi-India Strategic Partnership Council (SPC) alongside H.R.H. Prince Abdulaziz bin Salman Al Saud, Minister of Energy, Saudi Arabia.” His message highlighted the shared resolve to strengthen economic ties, with both sides aligning on opportunities for development and cooperation across industries.
Co-chaired the 2nd Ministerial Meeting of the Economy and Investment Committee under the Saudi-India Strategic Partnership Council (SPC) alongside H.R.H. Prince Abdulaziz bin Salman Al Saud, Minister of Energy, Saudi Arabia. 🇮🇳🤝🇸🇦
Signed the Minutes of the Ministerial Meeting,… pic.twitter.com/9TYJM2nzaT
— Piyush Goyal (@PiyushGoyal) October 30, 2024
As part of their commitment, the two ministers signed an official record of the meeting, a formal step to recognize the progress achieved thus far. They identified sectors where both economies stand to benefit from deeper collaboration, particularly in response to an evolving global economy that emphasizes supply chain diversification. Areas of mutual interest such as pharmaceuticals, automobiles, and petrochemicals emerged as focal points for further cooperation.
Additionally, Goyal met separately with Saudi Arabia’s Minister of Investment, H.E. Khalid Al-Falih, to discuss specific avenues for investment that could drive robust growth in both countries. The dialogue extended to exploring partnerships across key industries that are set to play a transformative role in economic resilience.
It was a pleasure to meet H.E. @Khalid_AlFalih, Minister of Investment, Saudi Arabia.
We engaged in insightful discussions on facilitating investments and explored significant opportunities for collaboration across sectors such as pharmaceuticals, automobiles and petrochemicals. pic.twitter.com/qQ7Q8yMQK8
— Piyush Goyal (@PiyushGoyal) October 30, 2024
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