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Goyal visits Saudi Arabia for ministerial meeting of economic, investment committee

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  • India is the second largest trading partner of Saudi Arabia and Saudi Arabia is India’s fourth largest trading partner.
  • India’s imports from Saudi Arabia totaled $34 billion in 2021-22, while its exports totaled $8.8 billion.
  • Meeting between Minister of Trade and Industry Piyush Goyal and Energy Minister of Saudi Arabia Prince Abdul Aziz Bin Salman on Sept 18-19.


India and Saudi Arabia are expected to formulate an action plan to strengthen bilateral cooperation in various fields and projects, including the west coast refinery project, an official statement said on Saturday.

The issue will be raised during the meeting between Trade and Industry Minister Piyush Goyal and Saudi Arabia’s Energy Minister Prince Abdul Aziz Bin Salman on September 18-19.

They would co-chair the first ministerial meeting of the Economic and Investment Committee.

The two ministers are expected to discuss progress in the various joint working groups of the Economic and Investment Committee, the ministry of commerce said.

“Both sides are expected to formulate an action plan to further strengthen bilateral cooperation in a range of priority areas and projects, including the West Coast Refinery Project, Trans-ocean grid connectivity, Green Hydrogen, Food Security, Energy Security and Pharmaceuticals.” said.

They can also speed up the progress of the Crown Prince’s announcement Mohammad Bin Salmanduring its visit to India in February 2019, of investments worth $100 billion in India, it added.

This committee, it said, is one of two ministerial vertical lines established under the India-Saudi Arabia Strategic Partnership Council, which is headed at the highest level by the Prime Minister of India and the Crown Prince of the Kingdom of Saudi Arabia .

India is Saudi Arabia’s second largest trading partner and Saudi Arabia is India’s fourth largest trading partner.

India’s imports from Saudi Arabia totaled $34 billion in 2021-22, while its exports totaled $8.8 billion.

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