India and Saudi Arabia deepen economic ties with record investments and trade
India and Saudi Arabia have significantly bolstered their economic ties, with investments flowing both ways. The Saudi Arabian Public Investment Fund (PIF) and other institutions have poured over USD 10 billion into Indian startups and companies, while Indian firms have invested around USD 3 billion in Saudi Arabia. This robust partnership is set to shape the next decade of economic growth.
The bilateral trade between the two nations has surged to USD 41.88 billion in the fiscal year 2024-25, with Saudi Arabia ranking as India's fourth-largest trading partner. Chemicals and petrochemicals account for a substantial USD 4.5 billion of this trade. Energy, defence, and skills development have emerged as new areas of cooperation.
The Indian startup ecosystem, renowned for its dynamism and diversity, has attracted significant Saudi investments. Since 2020, the PIF and other Saudi institutions have invested in Indian startups through Affinity Partners. Major Saudi entities like ARAMCO and SABIC have also led direct investments totaling around USD 3.15 billion. The High-Level Task Force on Investment (HLTFI) has facilitated this growth by signing over 50 MoUs and advancing cooperation in priority sectors.
The India-Saudi Arabia partnership is built on mutual trust and shared prosperity. With bilateral trade and investments continuing to grow, the two nations are poised to become one of the most strategically significant alliances in the coming years. As new sectors like energy and defence open up, the potential for further growth and collaboration is vast.
Read also:
- American teenagers taking up farming roles previously filled by immigrants, a concept revisited from 1965's labor market shift.
- Weekly affairs in the German Federal Parliament (Bundestag)
- Landslide claims seven lives, injures six individuals while they work to restore a water channel in the northern region of Pakistan
- Escalating conflict in Sudan has prompted the United Nations to announce a critical gender crisis, highlighting the disproportionate impact of the ongoing violence on women and girls.
