India and Saudi Arabia Explore Collaboration in Emerging Fields and Clean Hydrogen
Key Ideas
- India and Saudi Arabia are exploring collaboration in clean hydrogen and other emerging fields like fintech and energy efficiency.
- The meeting between the two countries aims to strengthen strategic partnerships and advance cooperation in various areas.
- Discussions during the visit focused on enhancing trade volumes, facilitating investments, and driving economic growth through innovation.
During a ministerial meeting of the Economy and Investment Committee of the Saudi-India Strategic Partnership Council, India and Saudi Arabia discussed collaboration in new technologies, clean hydrogen, textiles, mining, and more. The visit of Commerce Minister Piyush Goyal to Riyadh was described as a significant milestone in strengthening the strategic partnership between the two countries. Both sides agreed to explore the feasibility of electrical interconnection and signed agreements aimed at enhancing trade volumes and facilitating investments. The outcomes of the meetings are expected to unlock new avenues for investment and trade, driving economic growth and innovation. The focus was on cooperation in energy transition, digital transformation, and the exchange of expertise to accelerate economic growth. Saudi Arabia, being India's fifth-largest trading partner, holds significant potential for further collaboration.