By: ICN Bureau
Last updated : October 16, 2025 12:52 pm
Bilateral chemicals and petrochemicals trade between two countries stood at US$ 4.5 billion in 2024-25
India and Saudi Arabia are increasing cooperation in the chemicals and petrochemicals sectors to leverage each other's strengths and drive trade and investment. The move follows a bilateral meeting between the respective countries' ministries.
The Indian side was led by Nivedita Shukla Verma, Secretary Department of Chemicals & Petrochemicals. The Saudi delegation was led by Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals.
The collaboration aims to increase engagement across the entire chemicals and petrochemicals value chain, from raw materials to finished goods.
The two nations will explore opportunities for Saudi investments in India's Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs). Both sides will also foster strategic partnerships between major companies.
Saudi Arabia is India’s fourth largest trade partner, and India is Saudi Arabia’s second largest trade partner. Bilateral trade between the two countries reached US$ 41.88 billion in 2024–25, with chemicals and petrochemicals contributing 10%, which is nearly US$ 4.5 billion.
Saudi Arabia is a powerhouse in petrochemicals, while India is a growing leader in the specialized chemicals sector. The partnership will focus on utilizing these complementary strengths for mutual benefit.
It was also agreed to collaborate in the field of Research & Development and skill development in the sector.
Both sides reaffirmed their commitment to building a sustainable and mutually beneficial partnership in the Chemicals and Petrochemicals sector, further strengthening the strategic and economic ties between India and Saudi Arabia.