Goyal Concludes Visit to Saudi Arabia, Strengthens Economic Ties at FII

GG News Bureau
Riyadh, 2nd Nov. Union Commerce and Industry Minister Piyush Goyal wrapped up a successful visit to Saudi Arabia, where he represented India at the 8th Edition of the Future Investment Initiative (FII) and co-chaired the 2nd Ministerial Meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council (SPC). His visit focused on bolstering trade, energy, and technological collaboration between the two nations.

During the FII Plenary Session, attended by international government and business leaders, Goyal underscored the importance of global partnerships in fostering innovation and investment. He urged investors to capitalize on opportunities within India’s high-growth sectors, including artificial intelligence, renewable energy, and advanced manufacturing.

On October 30, Goyal co-chaired a high-level meeting with Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman Al-Saud, in Riyadh. The meeting reviewed progress in areas such as agriculture, food security, energy, and technology, underscoring a commitment to expanding economic cooperation. Discussions culminated in agreements to advance shared goals in energy transition, digital transformation, and trade.

Further engagements included meetings with Saudi officials in energy, industry, and investment sectors, leading to action plans aimed at increasing trade and investment flow. Goyal also met executives from Schneider Electric and General Atlantic, focusing on investment potential within India’s economic framework.

The visit also celebrated India’s culture, as Goyal launched the Lulu Wali Diwali Festival at Lulu Hypermarket, featuring traditional Indian products, foods, and handicrafts. Additionally, at the Indian Embassy in Riyadh, he inaugurated the ODOP (One District, One Product) Wall, promoting India’s unique regional craftsmanship as part of the “Vocal for Local” initiative.

This visit represents a significant step in strengthening India-Saudi ties, promising new pathways for economic growth and cooperation across various sectors.