India and Saudi Arabia To Expand Cooperation in Chemicals and Petrochemicals Sector

India and Saudi Arabia have taken a significant step toward strengthening their economic partnership by deepening cooperation in the chemicals and petrochemicals sector. The bilateral meeting between India’s Department of Chemicals and Petrochemicals and Saudi Arabia’s Ministry of Industry and Minerals marked a major stride in building a stronger, technology-driven industrial alliance.

Strengthening Bilateral Trade and Industrial Synergy

The discussions were led by Ms Nivedita Shukla Verma, Secretary of the Department of Chemicals & Petrochemicals, and H.E. Eng. Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals of Saudi Arabia. The two sides focused on expanding trade, attracting investment, and boosting collaboration in advanced materials and technologies. Saudi Arabia remains India’s fourth-largest trade partner, while India stands as Saudi Arabia’s second-largest trade partner. 

Bilateral trade between the two nations reached $41.88 billion in FY 2024–25, with chemicals and petrochemicals contributing nearly $4.5 billion, representing 10% of the total. Both countries recognised their complementary strengths, Saudi Arabia’s leadership in petrochemicals and India’s growing edge in speciality chemicals, and agreed to leverage these capabilities for mutual growth.

Focus on Investment, Innovation, and Skill Development

The meeting also explored new opportunities across the entire chemicals and petrochemicals value chain. Discussions included investments in Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs) in India and strategic partnerships between leading companies from both nations.

In addition, both sides agreed to collaborate in Research & Development and skill enhancement, ensuring that the workforce is prepared for the future of sustainable manufacturing. Reaffirming their shared vision, both countries committed to building a long-term, sustainable, and mutually beneficial partnership that would strengthen industrial capacity, spur innovation, and drive economic growth.

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Conclusion

The strengthened cooperation between India and Saudi Arabia marks a new era in industrial relations, creating opportunities for innovation, sustainability, and shared prosperity in the global chemicals and petrochemicals landscape.
 

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