New Delhi: India and Saudi Arabia have strengthened their cooperation in the chemicals and petrochemicals sector through a high-level bilateral meeting, aiming to expand trade, investment, and collaboration opportunities, officials said today.
The meeting was held between the Department of Chemicals & Petrochemicals, Ministry of Chemicals and Fertilizers, Government of India, and the Ministry of Industry and Minerals, Kingdom of Saudi Arabia. The Indian delegation was led by Ms. Nivedita Shukla Verma, Secretary, Department of Chemicals & Petrochemicals, while the Saudi delegation was headed by H.E. Eng. Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals.
Saudi Arabia is India’s fourth-largest trade partner, while India is Saudi Arabia’s second-largest. Bilateral trade reached USD 41.88 billion in 2024–25, with chemicals and petrochemicals contributing nearly USD 4.5 billion, accounting for 10% of total trade.
The discussions focused on enhancing bilateral cooperation, promoting investments, and exploring new avenues of collaboration. Both sides acknowledged their complementary strengths—Saudi Arabia in petrochemicals and India in specialty chemicals—and agreed to leverage synergies to maximize mutual benefits.
Opportunities for value chain collaboration were discussed, including investments in Petroleum, Chemical, and Petrochemical Investment Regions (PCPIRs) in India and potential partnerships between major companies of both countries. The meeting also emphasized collaboration in Research & Development and skill development in the sector.
Both India and Saudi Arabia reaffirmed their commitment to building a sustainable, mutually beneficial partnership in chemicals and petrochemicals, further strengthening strategic and economic ties between the two nations.