Piyush Goyal will participate in ‘Future Investment Initiative’, discussions will be held on increasing cooperation in these sectors
Commerce and Industry Minister Piyush Goyal will discuss ways to enhance cooperation in areas such as renewable energy, digital infrastructure and manufacturing during his two-day visit to Saudi Arabia. He will leave for Riyadh on Tuesday. Goyal will participate in the Future Investment Initiative (FIIs) in Riyadh, an important platform that brings together global leaders, investors and innovators, the Commerce and Industry Ministry said. His participation will highlight India’s rapid economic growth, its focus on sustainable development, artificial intelligence (AI) and immense opportunities in areas such as renewable energy, digital infrastructure and advanced manufacturing, the ministry said.
Will also hold meetings with global investors
On the sidelines of the FII meeting, he will hold discussions with leading global investors. It said, ‘The aim of these conversations is to increase investor confidence, facilitate investment flows and promote India as a preferred global investment destination.’ He will also hold bilateral meetings with key Saudi ministers, including the Minister of Commerce, Minister of Industry and Mineral Resources, Minister of Investment and Minister of Energy, to discuss collaborative efforts in energy transition, digital transformation and trade facilitation.
Will co-chair ministerial meeting
Apart from this, he will co-chair the second ministerial meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council, which will focus on sectors such as agriculture, food security, energy, technology and infrastructure. India is Saudi Arabia’s second largest trading partner while Saudi Arabia is India’s fourth largest trading partner. Bilateral trade between the two countries was US$ 43 billion in 2023-24 and US$ 53 billion in 2022-23.
