India and Saudi Arabia Explore Collaboration in New Technologies and Clean Hydrogen
Key Ideas
- India and Saudi Arabia are strengthening their strategic partnership through collaboration in new technologies, clean hydrogen, energy efficiency, and more.
- The two countries are exploring the feasibility of electrical interconnection, aiming to enhance trade volumes and facilitate investments.
- The outcomes of the meetings are expected to unlock new avenues for investment and drive economic growth and innovation in both nations.
India is looking to deepen collaboration with Saudi Arabia in various emerging fields following Commerce Minister Piyush Goyal's visit to Riyadh. The visit included co-chairing a ministerial meeting to review developments in fintech, energy efficiency, clean hydrogen, textiles, and mining, among others. Both countries are exploring the feasibility of electrical interconnection and reaffirming their commitment to advancing cooperation. The engagements also focused on trade, energy, and technology initiatives, culminating in agreements to boost trade volumes and facilitate investments. The outcomes are anticipated to drive economic growth and innovation. Bilateral trade between India and Saudi Arabia is substantial, with the countries aiming to further strengthen their economic ties.