A bilateral meeting was recently held between the Department of Chemicals & Petrochemicals, Ministry of Chemicals and Fertilizers, Government of India, and the Ministry of Industry and Minerals of the Kingdom of Saudi Arabia. The Indian delegation was led by Ms. Nivedita Shukla Verma, Secretary, Department of Chemicals & Petrochemicals, while the Saudi side was headed by H.E. Eng. Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals.
Saudi Arabia stands as India’s fourth-largest trading partner, while India ranks as Saudi Arabia’s second-largest. In the fiscal year 2024–25, bilateral trade between the two nations reached USD 41.88 billion, with the chemicals and petrochemicals sector accounting for approximately 10% of that figure—around USD 4.5 billion.
The meeting focused on deepening bilateral cooperation, encouraging investment, and identifying new avenues for collaboration within the chemicals and petrochemicals sector.
Both delegations recognized the complementary strengths of their respective industries—Saudi Arabia’s expertise in petrochemicals and India’s capabilities in specialty chemicals. They agreed to enhance cooperation to leverage these synergies effectively.
Discussions also included opportunities for expanded collaboration across the chemicals and petrochemicals value chain. This encompasses potential investments in India’s Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs), as well as partnerships between leading companies from both nations.
Further, both sides agreed to cooperate in research and development, and in the area of skill development within the sector.
Reaffirming their shared commitment, India and Saudi Arabia expressed their intent to build a sustainable and mutually beneficial partnership in the chemicals and petrochemicals space—further strengthening their strategic and economic relations.
