India, Saudi Arabia hold bilateral meeting to strengthen cooperation in chemicals & petrochemicals sector

New Delhi: A bilateral 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, to enhance collaboration in the Chemicals and Petrochemicals sector.

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The Indian delegation was led by the Department of Chemicals & Petrochemicals' Secretary Nivedita Shukla Verma while the Saudi Arabian side was headed by the Vice Minister of Industry and Minerals H.E. Eng. Khalil bin Ibrahim bin Salamah.

Saudi Arabia is India’s fourth-largest trading partner, while India stands as Saudi Arabia’s second-largest trading partner. Bilateral trade between the two countries reached USD 41.88 billion in 2024–25, with chemicals and petrochemicals accounting for about 10 percent, or nearly USD 4.5 billion.

During the meeting, both sides discussed avenues for enhancing bilateral cooperation, promoting investments, and identifying new areas of collaboration in the Chemicals and Petrochemicals domain. The discussions highlighted the complementary strengths of the two nations, Saudi Arabia’s expertise in petrochemicals and India’s growing capabilities in speciality chemicals, and underlined the potential to harness these synergies for mutual benefit.

The two sides explored opportunities for expanding collaboration across the entire value chain, including investments in India’s Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs) and fostering partnerships between major companies from both countries.

In addition, both parties agreed to work together in the areas of Research & Development and skill development to support innovation and capacity building in the sector.

The meeting concluded with both sides reaffirming their commitment to strengthening their strategic and economic ties and building a sustainable, mutually beneficial partnership in the Chemicals and Petrochemicals sector.

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