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India, Saudi Arabia discuss ways to boost bilateral investments between two countries in different sectors

25 Oct 2023 Evaluate

Commerce and Industry Minister Piyush Goyal has met Saudi Arabia's Minister of Investment Khalid A Al-Falih, and discussed ways to boost bilateral investments between the two countries in different sectors. Goyal, who is on a two-day visit to Riyadh, also participated in the seventh edition of the Future Investment Initiative (FII) in Riyadh.

Goyal discussed expanding investment across diverse sectors to foster economic growth & further enhance the strategic partnership between India & Saudi Arabia. He also deliberated on new pathways for investment with the goal of creating a positive global impact and navigating new frontiers of growth and prosperity.

Meanwhile, the bilateral trade between the countries stood at $52.75 billion in 2022-23 against $42.86 billion in 2021-22. India received $3.22 billion in foreign direct investment from Saudi Arabia between April 2000 and June 2023.