India and Saudi Arabia have agreed to deepen cooperation in the chemicals and petrochemicals sector, focusing on investments and exploring new collaboration opportunities, according to an official statement on Wednesday.

Key Highlights

• India and Saudi Arabia enhance chemicals and petrochemicals cooperation, focusing on investments and collaboration.
• Bilateral trade reached $41.88 billion in 2024–25, with chemicals and petrochemicals contributing 10%.

Bilateral trade between the two nations reached $41.88 billion in 2024–25, with chemicals and petrochemicals accounting for 10% of trade, approximately $4.5 billion.

A high-level meeting was held between India’s Department of Chemicals and Petrochemicals and Saudi Arabia’s Ministry of Industry and Minerals. The Indian delegation was led by Nivedita Shukla Verma, Secretary of the Department of Chemicals and Petrochemicals, while the Saudi team was headed by Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals.

Both sides recognized their complementary strengths—Saudi Arabia in petrochemicals and India in specialty chemicals—and agreed to enhance cooperation to harness synergies across the value chain, including investments in India’s Petroleum, Chemical, and Petrochemical Investment Regions (PCPIRs) and potential partnerships between major companies.

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The countries also discussed collaboration in research and development, skill development, and reaffirmed their commitment to a sustainable, mutually beneficial partnership in the sector, further strengthening strategic and economic ties.

Saudi Arabia is India’s fourth-largest trade partner, while India ranks as Saudi Arabia’s second-largest trading partner. Previously, the two nations had also agreed to boost cooperation in the textile sector.