India and Saudi Arabia are exploring possibilities to further strengthen their trade and investment ties by delving into emerging sectors such as fintech, energy efficiency, clean hydrogen, textiles, and mining. The recent visit of Commerce and Industry Minister Piyush Goyal to Riyadh marked significant discussions on collaboration in these areas. The second meeting of the economy and investment committee under the India-Saudi Strategic Partnership Council highlighted the mutual interest in exploring new technologies and enhancing economic cooperation. During the Future Investment Initiative event, Minister Goyal emphasized the potential for global investors to tap into opportunities in India, particularly in sectors like artificial intelligence and renewable energy. The bilateral trade volume between India and Saudi Arabia reached $43 billion in 2023-24, with a considerable number of Indian companies having substantial investments in the Kingdom. With over 2,700 Indian firms registered as joint ventures or wholly-owned entities, the economic engagement between the two nations continues to grow. Additionally, Saudi Arabia's direct investments in India have been significant, totaling $3.22 billion from April 2000 to June 2024. This trend underscores the deepening economic relations and the shared commitment to fostering stronger ties in various sectors.